Business
ClubLink Enterprises Limited announces 2009 year end results and eligible quarterly dividend
ClubLink Enterprises Limited announces 2009 year end results and eligible quarterly dividend
About this update from Twc Enterprises Limited
[{"type":"text","content":"\n\n\n\nMISSISSAUGA, ON, Mar. 2, 2010 (Canada NewsWire Group) -- /CNW/ --Consolidated Financial Highlights-------------------------------------------------------------------------Three months ended Year ended-------------------------------------------(in thousands of dollars December December December Decemberexcept per share amounts) 31, 2009 31, 2008 31, 2009 31, 2008-------------------------------------------------------------------------Operating revenue 24,681 28,656 190,212 196,532-------------------------------------------------------------------------Net operating income(1) 850 3,230 51,437 55,035-------------------------------------------------------------------------Net membership fee income(1) 3,652 3,287 12,829 12,327-------------------------------------------------------------------------EBITDA(1) 4,502 6,517 64,266 67,362-------------------------------------------------------------------------Net earnings (loss) (2,212) (5,083) 11,155 6,125-------------------------------------------------------------------------Basic and diluted earnings(loss) per share (0.08) (0.22) 0.44 0.27-------------------------------------------------------------------------Weighted average sharesoutstanding (000's) 28,056 22,887 25,113 22,887-------------------------------------------------------------------------2009 Consolidated Operating HighlightsConsolidated operating revenue decreased 3.2% to $190,212,000 for the year ended December 31, 2009 from $196,532,000 in 2008 primarily due to a decrease in revenue in golf club and resort operations described below.Consolidated EBITDA decreased 4.6% to $64,266,000 for the year ended December 31, 2009 from $67,362,000 in 2008 and was impacted by the decline in net operating income from golf club and resort operations described below.Amortization increased 3.7% to $21,533,000 for the year ended December 31, 2009 from $20,774,000 in 2008.Land lease rent increased 20.1% to $5,024,000 for the year ended December 31, 2009 from $4,182,000 in 2008 due to the incremental rent from the 21 golf-season lease of The Club at Bond Head entered into on April 7, 2009.Interest, net decreased to $23,397,000 for the year ended December 31, 2009 from $25,283,000 in 2008. This reduction was caused by a 3% decline in debt levels from December 31, 2008 and a decline in interest rates attached to variable rate financin...