Business
GENIVAR reports its results for the third quarter and year-to-date period of 2011 and declares a dividend of $0.375 per share
MONTREAL, Nov. 9, 2011 /CNW Telbec/ - GENIVAR Inc. (TSX: GNV) ("GENIVAR" or the "Company"), f...
About this update from Wsp Global Inc
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Nov. 9, 2011 /CNW Telbec/ - GENIVAR Inc. (TSX: GNV) (\"GENIVAR\"\n or the \"Company\"), formerly GENIVAR Income Fund (the \"Fund\"), today\n announced its financial and operating results for the third quarter and\n for the year-to-date periods ended October 1, 2011, under the\n International Financial Reporting Standards (\"IFRS\"). The third quarter\n results cover the period from July 3, 2011, to October 1, 2011.\n\n\nTHIRD QUARTER 2011 HIGHLIGHTS \n\n\nTotal revenues were $173.1 million compared to $155.7 million in 2010,\n an increase of 11.2%. Net revenues, expressed as revenues less direct\n costs for subconsultants and other direct expenses that are recoverable\n directly from the clients, amounted to $138.6 million, representing an\n 11.5% increase as compared to 2010.\n\nEBITDA stood at $26.6 million, as compared to $24.2 million in 2010. As\n a percentage of net revenues, the EBITDA margin stood at 19.2% for\n 2011, compared to 19.4% for 2010.\n\nNet earnings amounted to $14.2 million or $0.54 per share.\n\nThe backlog stood at $419.3 million compared to a backlog of $427.8\n million at the end of the second quarter of 2011 and represented\n approximately 8.0 months of revenues.\n\nDuring the quarter, GENIVAR strengthened its expertise in the field of\n automation systems with the acquisition of Dakins Engineering Group\n Ltd., based in Ontario. Also, ARCOP, a Montreal-based firm,\n internationally known for design and architectural excellence became\n GENIVAR's partner.\n\nSubsequent to the quarter-end, the Company further diversified its\n professional services offering by welcoming the entities collectively\n referred to as \"Groupe GIROUX,\" Quebec-based geomatics and surveying\n firms. The Company also acquired ISACTION Inc., a Quebec-based firm\n specialized in instrumentation control and automation systems.\n\nThese four transactions add 204 employees to our workforce and bring the\n number of new employees who joined GENIVAR through business\n acquisitions since the beginning of the year to approximately 340.\n\n\n2011 YEAR-TO-DATE PERIOD HIGHLIGHTS\n\n\nTotal revenues were $479.9 million compared to $425.7 million in 2010,\n an increase of 12.7%. For the same period, net revenues amounted to\n $396.3 million, representing a 12.9% increase as compared to 2010 which\n is within th...