Canlan Ice Sports Corp.
Canlan Ice Sports Corp.
- ISIN: CA1376392090
- Land: .
Nachricht vom 10.08.2018 | 14:00
Canlan Reports Q2 Results and Continues Quarterly Dividend
DGAP-News: Canlan Ice Sports Corp. / Key word(s): Miscellaneous
Burnaby, British Columbia--(Newsfile Corp. - August 10, 2018) - Canlan Ice Sports Corp. (TSX: ICE) (the 'Corporation') today reported its financial results for the second quarter ended June 30, 2018.
Three Months and Six Months Ended June 30, 2018 Results
Second Quarter Results
Six Months Ended June 30, 2018 Results
'Financial results for the first half of 2018 were on target. While revenue growth has not been as prominent as we had planned, operating earnings have increased by more than 13% due to the successful implementation of cost reduction measures and continued energy savings,' said Canlan's CEO, Joey St-Aubin. 'The ASHL North American Championship was well attended and currently, our summer camps and tournaments are experiencing strong growth in most markets. Much credit goes to our team members across all our facilities that have executed our sales and cost mitigation plans to date, with focus and professionalism. We look forward to the second half of the year as we head into the fall/winter hockey and soccer seasons.'
'We have also completed and/or commenced some important infrastructure projects that were planned for 2018, such as the development of a new parking lot, refurbishment of building envelopes at several facilities, continued LED lighting retrofits and renewal of refrigeration equipment,' added Canlan's CFO, Ivan Wu. 'These projects will help maintain and upgrade our facilities to the high standards necessary to serve our customers.'
Canlan's Board of Directors has approved the continuation of the Corporation's quarterly dividend policy and declared eligible dividends totaling $0.025 per common share that will be paid on October 16, 2018, to shareholders of record at the close of business September 28, 2018. 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, 2018 will be available via SEDAR on or before August 14, 2018, 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 news release 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 news release, 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 news release. 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:
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.
Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/38013
|Company:||Canlan Ice Sports Corp.|
|End of News||DGAP News Service|
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