Business
TerraVest announces record EBITDA for the three months and six months ended March 31, 2014 and declaration of quarterly dividend
VEGREVILLE, AB , May 12, 2014 /CNW/ - TerraVest Capital Inc. (TSX: TVK ) a manufacturer...
About this update from Terravest Industries, Inc.
[{"type":"text","content":"\n\n\nVEGREVILLE, AB, May 12, 2014 /CNW/ - TerraVest Capital Inc. (TSX: TVK) a manufacturer of fuel containment and pressure vessels as well as an\n oil field service provider is pleased to announce record EBITDA for the\n three months ended March 31, 2014 as well as the declaration of its\n quarterly dividend.\n\n\nThis will also be TerraVest's first quarter incorporating the\n acquisition of Gestion Jerico, which was completed on February 15,\n 2014.  The results for Gestion Jerico are incorporated for the period\n from February 15, 2014 to March 31, 2014. The acquisition gives Gestion\n Jerico a platform to grow its sales in Western Canada, as well as\n provide manufacturing and supply chain synergies between TerraVest's\n portfolio companies.\n\n\n\"We continue to work towards garnering operational efficiencies between\n RJV and Gestion Jerico and on that front have ordered additional\n components from Gestion Jerico for RJV's end product. We are confident\n that we will be able to leverage Gestion Jerico's manufacturing\n capabilities for future growth opportunities in Western Canada\" said\n Dale Laniuk, Chief Executive Officer and President of TerraVest.\n\n\n\"On a standalone basis, we are confident in Gestion Jerico's operating\n performance and cash contribution to TerraVest, however, we are excited\n about additional opportunities that may be garnered in other geographic\n regions\" said Charles Pellerin, Executive Chairman of Gestion Jerico\n and Board member of TerraVest.\n\n\nFINANCIAL INFORMATION\n\n\nAll amounts in this news release are stated in thousands of Canadian\n dollars, except per share data.\n\n\nFor the three and six months ended March 31st, 2014 TerraVest reported:\n\n\n\n\n\n\n \n \n \n\n\n\n \n\n\nThree months ended\nMarch 31\n\n\nSix months ended\nMarch 31\n\n\n\n\nEBITDA\n\n\n \n\n\n2014\n\n\n \n\n\n2013\n\n\n \n\n\n2014\n\n\n \n\n\n2013\n\n\n\n\nNet income for the period\n\n\n$\n\n\n1,729\n\n\n$\n\n\n2,500\n\n\n$\n\n\n4,312\n\n\n$\n\n\n(789)\n\n\n\n\nAdd (subtract):\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n      Income tax expense\n\n\n \n\n\n827\n\n\n \n\n\n854\n\n\n \n\n\n1,615\n\n\n \n\n\n5,913\n\n\n\n\n      Financia...