Business
Canadian Equipment Rental Fund Limited Partnership announces first quarter 2009 income of $0.16 per unit
TSX Venture Symbol: CFL.UN CALGARY, May 28 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp., ...
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\nTSX Venture Symbol: CFL.UN\n\n\nCALGARY, May 28 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp., the\ngeneral partner of Canadian Equipment Rental Fund Limited Partnership\n("CERF"), is pleased to announce the results for the three months ended March\n31, 2009.\n\n\nHighlights of the three month period ended March 31, 2009 were:\n\n- Revenue for the quarter amounted to $4,171,986.\n\n- Maintained Operating margins at 52% of revenues.\n\n- Net income per unit of $0.16 basic.\n\n- Distributions of $0.12 per unit were declared for the quarter.\n\n\nFORWARD LOOKING STATEMENTS\n\n\nThis press release contains forward looking statements subject to various\nrisk factors and uncertainties, which may cause the actual results,\nperformances, cash flows or the ability to pay distributions to be materially\ndifferent from the results, performances, cash flow or the ability to pay\ndistributions expressed or implied by such forward looking statements.\n\n\nMr. Wadley comments "Edmonton and area remains busy in many sectors\ndespite a slowdown in other areas of the province and country. This is\nparticularly evident in the ongoing and recent infrastructure project\nannouncements for new hospitals, recreation and health centers, retail,\ncommercial and residential real estate development, bridge construction,\nutility upgrades and manufacturing facilities of which many of our customers\nare directly involved. We are expecting the commercial construction market to\nactually accelerate for many of our customers in 2009 compared to levels\nexperienced in the last half of 2008. Our sales team will continue to\naggressively pursue business from these projects. We are currently working\nwith our customers as they bid on the several upcoming infrastructure projects\nto ensure that we will be able to supply the equipment that they will\nrequire."\n\n\nCanadian Equipment Rental Fund Limited Partnership\nOperating as 4-Way Equipment Rentals\nBalance Sheets - Unaudited\n-------------------------------------------------------------------------\n March 31, December 31,\n 2009 2008\n-------------------------------------------------------------------------\n\nAssets\n\nCurrent assets:\n Cash $ 177,910 $ 227,425\n Accounts receivable 3,580,660 3,870,472\n Inventory and other 821,249 796,329\n Prepaid expense 107,472 118,242\n-...