Business
Canadian Equipment Rental Fund Limited Partnership Announces 2009 Results
Canadian Equipment Rental Fund Limited Partnership Announces 2009 Results
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\nCALGARY, Apr. 23, 2010 (Canada NewsWire Group) -- /CNW/ -- Mr. Wayne Wadley, president of CERF GP Corp., the general partner of Canadian Equipment Rental Fund Limited Partnership (\"CERF\" or the \"Partnership\"), is pleased to announce the results for the year ended December 31, 2009.Full details of the Partnership's results, in the form of the audited financial statements for the year ended December 31, 2009 and Management's Discussion and Analysis of the results dated April 22, 2010 are available on SEDAR at www.sedar.com and on the Partnership's website www.cerflp.com.Highlights of the year ended December 31, 2009 were:- Revenue for the year was $13,135,355.- Net income per unit of $0.07 basic.- Distributions of $0.42 per unit were declared for the year.FORWARD LOOKING STATEMENTSThis press release contains forward looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances, cash flows or the ability to pay distributions to be materially different from the results, performances, cash flow or the ability to pay distributions expressed or implied by such forward looking statements.Mr. Wadley makes the following statements:\"The economic downturn that started in late 2008 continued through most of 2009 and impacted virtually all sectors and countries. Even amid these tough market conditions, Canadian Equipment Rental Fund LP was affected but survived, thanks in large part to our product and customer diversity, our conservative fiscal policies and the growth we have delivered over the past four years.We were faced with many difficult decisions this past year as a result of the recession. Our board and management team relied on our past experience to guide the partnership through a complex year. Early in the recession we decided not to make deep staff and equipment reductions as some of our competitors. Our experience has taught us that all recessions end and while the strategy not to make deep cuts would cause us some short term pain in 2009, when the recession finally ended we would be in good position to benefit from the recovery. Skilled labor is essential to our services and investing in people has always been a key to our success. Our staff consists of highly trained technical service personnel who require specialized equipment training to ensure that we meet...