Canlan Ice Sports Corp.
Canlan Ice Sports Corp.
- ISIN: CA1376392090
- Land: .
Nachricht vom 11.08.2017 | 12:00
Canlan Reports Q2 Results and Continues Quarterly Dividend
DGAP-News: Canlan Ice Sports Corp. / Key word(s): Miscellaneous
Burnaby, British Columbia--(Newsfile Corp. - August 11, 2017) - Canlan Ice Sports Corp. (TSX: ICE) (the 'Corporation') today reported its financial results for the second quarter ended June 30, 2017.
Highlights of Q2 2017:
Three Months and Six Months Ended June 30, 2017 Results
1 Earnings before interest, taxes, depreciation and amortization (EBITDA) is often used as a measure of financial performance. However, EBITDA is not a term that has specific meaning in accordance with IFRS, and may be calculated differently by other companies. Canlan reconciles EBITDA to its net earnings.
Second Quarter Results
(three months ended June 30, 2017 compared with three months ended June 30, 2016)
Six Months Ended June 30, 2017 Results
(six months ended June 30, 2017 compared with six months ended June 30, 2016)
'The Spring Summer season of the ASHL is in full swing, including 48 teams in our newest facility in Calgary, Alberta. Facility operating results are ahead of plan, with solid year over year results coming from our seven GTA facilities,' said Canlan's CEO, Joey St-Aubin.
'Our investment in new refrigeration equipment and LED lighting fixtures are resulting in measurable reductions in energy consumption and operating costs,' added Canlan's CFO, Mike Gellard. 'We have spent $2.5 million on capital expenditures so far this year, which was partially funded by accessing $1.3 million of our $5.0 million capital expenditure credit facility. Our $4.0 million capital expenditure program will continue throughout the remainder of 2017.' Mr. Gellard also commented on the strong mid-summer balance sheet with over $11.8 million in cash, providing the Company with good liquidity.
'Currently, our facility teams are executing plans to maximize registrations for all our fall and winter leagues. Registrations for the upcoming ASHL season have opened and sold out in four of our fifteen locations,' said Mr. St-Aubin.
Canlan's Board of Directors has approved the continuation of the Corporation's quarterly dividend policy and declared eligible dividends totaling $0.02 per common share that will be paid on October 17, 2017 to shareholders of record at the close of business September 30, 2017. Canlan's Board of Directors reviews the Corporation's dividend policy on a quarterly basis. Canlan's dividend is designated as an 'eligible' dividend under the Income Tax Act (Canada) and corresponding provincial legislation. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits, which reduce income tax otherwise payable.
Canlan's financial statements and Management's Discussion & Analysis for the period ended June 30, 2017 will be available via SEDAR on or before August 14, 2017 and through the Company's website, www.icesports.com.
Canlan Ice Sports Corp. is the North American leader in the development, operations and ownership of multi-purpose recreation and entertainment facilities. We are the largest private sector owner and operator of recreation facilities in North America and currently own, lease and/or manage 20 facilities in Canada and the United States with 57 ice surfaces, as well as five indoor soccer fields, and 15 sport, volleyball, and basketball courts. To learn more about Canlan please visit www.icesports.com.
Canlan Ice Sports Corp. is listed on the Toronto Stock Exchange under the symbol 'ICE.'
Caution concerning forward-looking statements
Certain statements in this MD&A may constitute ''forward looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this MD&A, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this MD&A. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Corporation's markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive.
For more information:
Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/28417
|Company:||Canlan Ice Sports Corp.|
|End of News||DGAP News Service|
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