Business
Canadian Equipment Rental Fund Limited Partnership Announces Results for Q2 2009
TSX Venture Symbol: CFL.UN CALGARY, Aug. 27 /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, Aug. 27 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp.,\nthe general partner of Canadian Equipment Rental Fund Limited Partnership\n("CERF"), is pleased to announce the results for the three and six months\nended June 30, 2009.\n\n\nHighlights of the six month period ended June 30, 2009 were:\n\n- Revenue for the six months was $7,127,456.\n\n- Net income for the six months was $942,149.\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\nAlthough the economy in Edmonton and area has not returned to the level\nof activity experienced in the latter half of 2007 and first quarter of 2008,\nwe have seen a steady improvement in activity in all sectors as well as\nincreasingly optimistic growth forecasts. We are expecting the commercial\nconstruction market to actually accelerate for many of our customers in 2009\ncompared to levels experienced in the last half of 2008. Commercial and\ninfrastructure construction is definitely starting to see the effect of the\nstimulus spending by both the Federal and Provincial Governments. Housing\nstarts in the Edmonton area are up as a result of the price reductions and low\ninterest rates and condominium construction is showing signs of recovery with\nhalted projects under construction once again. It is the opinion of management\nthat rental revenues will slowly improve over the remainder of 2009.\n\n\nCanadian Equipment Rental Fund Limited Partnership\nOperating as 4-Way Equipment Rentals\nBalance Sheets - Unaudited\n-------------------------------------------------------------------------\n June 30, December 31,\n 2009 2008\n-------------------------------------------------------------------------\n\nAssets\n\nCurrent assets:\n Cash $ 108,764 $ 227,425\n Accounts receivable 2,646,784 3,870,472\n Inventory and other 946,196 796,329\n Prepaid expense 176,104 118,242\n----...