Business
CERF INCORPORATED Announces Record Results for the First Quarter of 2013
TSX Venture Symbol: CFL CALGARY , May 28, 2013 /CNW/ - Mr. Wayne Wadley , President o...
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\nTSX Venture Symbol: CFL\n\n\nCALGARY, May 28, 2013 /CNW/ - Mr. Wayne Wadley, President of CERF\n Incorporated (the \"Company\" or \"CERF\"), is pleased to announce the\n results for the first quarter of 2013.\n\n\nFull details of the Company's results, in the form of the unaudited\n condensed consolidated financial statements and notes thereto for the\n three months ended March 31, 2013 and Management's Discussion and\n Analysis of the results dated May 27, 2013 are available on SEDAR at www.sedar.com and on the Company's website at www.cerfcorp.com.\n\n\nSummary of fourth Quarter and Year to Date Consolidated Financial\n Results:\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nIn C$,000's except \npercentages and per \nshares data\n\n\nQ1\n\n2013\n\n\nQ1\n\n2012\n\n\n$\n\nchange\n\n\n% \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n11,444\n\n\n7,210\n\n\n4,234\n\n\n59%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nDirect Expenses\n\n\n7,763\n\n\n5,739\n\n\n2,024\n\n\n35%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nGross Margin %\n\n\n32%\n\n\n20%\n\n\n12%\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nNet Income\n\n\n1,110\n\n\n155\n\n\n955\n\n\n616%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nAdjusted \nEBITDA\n\n\n4,003\n\n\n1,624\n\n\n2,379\n\n\n146%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nDividend per share\n\n\n$0.06\n\n\n$0.06\n\n\n \n\n\n \n\n\n\n\n\n\n\nSelected Highlights of the quarter:\n\n\n\n\nRevenue increased 59% to $11,444,000 for Q1 2013 versus the\n corresponding period in 2012;\n\n\n\n\n\nEquipment Rental Segment revenue increased 83% in Q1 2013, to\n $8,595,000, versus $4,698,000 in Q1 2012 being 75% of revenue for the\n first quarter of 2013 versus 65% in the first quarter of 2012. This was\n due in part to the acquisition of Trac Energy Services Ltd. (\"TRAC\") in\n October of 2012. TRAC provides rental equipment to the drilling and\n service sectors of the oil and natural gas industry and added\n $2,925,000 of revenue and $1,877,000 of EBITDA in the quarter;\n\n\n\n\n\nConstruction Equipment Rental revenue increased organically 38% by\n $1,215,000 to $4,392,000 in the first...