Business
ClubLink Enterprises Limited announces second quarter 2009 results and 25% increase in its quarterly eligible dividend
MISSISSAUGA, ON, Aug. 7 /CNW/ - Financial Highlights --------------------------------------------...
About this update from Twc Enterprises Limited
[{"type":"text","content":"\n\n\n\nMISSISSAUGA, ON, Aug. 7 /CNW/ -\n\n\nFinancial Highlights\n\n-------------------------------------------------------------------------\n(in thousands of dollars Three months Six months\n except per share amounts) ended ended\n ------------------ ------------------\n June 30, June 30, June 30, June 30,\n 2009 2008 2009 2008\n-------------------------------------------------------------------------\nRevenue 62,651 63,151 82,253 83,014\n-------------------------------------------------------------------------\nEBITDA(1) 17,021 16,625 20,075 19,616\n-------------------------------------------------------------------------\nNet earnings (loss) 1,951 2,429 (3,634) (3,336)\n-------------------------------------------------------------------------\nBasic and diluted earnings (loss)\n per share $0.08 $0.10 ($0.16) ($0.15)\n-------------------------------------------------------------------------\nWeighted average shares outstanding\n (000's) 22,892 22,853\n-------------------------------------------------------------------------\n(1) EBITDA is not a recognized performance measure under Canadian GAAP.\nEBITDA is defined as earnings before taxes, interest, depreciation,\namortization, non-controlling interest and earnings from equity accounted\ninvestments. Management believes that in addition to net earnings, this\nmeasure is useful supplemental information to provide investors with an\nindication of income available prior to debt service, capital\nexpenditures and income taxes. Investors should be cautioned, however,\nthat this measure should not be construed as an alternative to net\nearnings determined in accordance with GAAP as an indicator of the\nCompany's performance.\n\n\nSecond Quarter 2009 Highlights\n\n\nEBITDA from the rail, tourism and port segment increased to US $7,389,000\nin 2009 compared to US $7,062,000 for the second quarter of 2008 due to\nadditional port revenue from increased cruise ship passengers, a 5.8% increase\nin the average ticket price and aggressive containment of costs. Also\nimpacting the quarter were two separate rail service interruptions - a rock\nslide which halted the entire rail operation for 2 days in May and a washout\nwhich halted rail operations between Bennett, British Columbia and Carcross,\nYukon for 6 weeks. It is estimated that these interruptions resulted in a loss\nof US $780,000 ...