ClubLink Enterprises Limited Announces Third Quarter 2013 Results and Eligible Dividend
(firmenpresse) - KING CITY, ONTARIO -- (Marketwired) -- 11/08/13 -- (TSX: CLK) -
Consolidated Financial Highlights
Operating Data
Third Quarter 2013 Consolidated Operating Highlights
Consolidated operating revenue increased 1.8% to $87,861,000 for the three month period ending September 30, 2013 from $86,276,000 in 2012, primarily due to an increase of $1,819,000 in rail, tourism and port operations revenue resulting from more rail and port passengers compared to 2012 and a more favorable exchange rate. For the three month period ending September 30, 2013, one US dollar was converted into the Canadian dollar equivalent using a 1.0385 exchange rate (2012 - 0.9948)
Consolidated cost of sales and operating expenses increased 2.0% to $54,221,000 for the three month period ending September 30, 2013 from $53,171,000 in 2012, primarily due to additional variable expenditures relating to the incremental passengers and a higher exchange rate for US currency results.
Net operating income for the Canadian golf club operations segment decreased 3.4% to $18,055,000 for the three month period ending September 30, 2013 from $18,685,000 in 2012 due to the decline in operating revenue from less Canadian members.
Net operating loss for US golf club operations segment for the summer off-season improved to $696,000 for the three month period ending September 30, 2013 from $788,000 in 2012 primarily due to improved efficiencies in operations.
Net operating income for the rail, tourism and port operations increased 6.6% to $16,965,000 for the three month period ending September 30, 2013 from $15,921,000 in 2012 due to a 1.6% increase in rail passengers and a 7.2% increase in port passengers.
Consolidated net operating income increased 1.6% to $33,640,000 for the three month period ending September 30, 2013 from $33,105,000 in 2012.
Consolidated net membership fee income increased 7.3% to $3,813,000 for the three month period ending September 30, 2013 from $3,553,000 in 2012 primarily due to a 28.0% reduction in direct costs of originating membership fees.
Consolidated earnings before other items and income taxes increased 2.2% to $37,453,000 for the three month period ending September 30, 2013 from $36,658,000 in 2012.
Interest, net decreased 2.5% to $5,064,000 for the three month period ending September 30, 2013 from $5,193,000 in 2012 primarily due to a lower cost of borrowing in 2013 (5.86% compared to 6.07%).
Other income (expense), net increased to income of $357,000 for the three month period ending September 30, 2013 from an expense of $11,000 in 2012.
Net earnings increased 3.7% to $17,090,000 for the three month period ending September 30, 2013 from $16,488,000 in 2012.
Eligible Dividend
Today, ClubLink Enterprises Limited ("ClubLink") announced an eligible dividend of 7.5 cents per share to be paid on December 13, 2013 to shareholders of record as at November 29, 2013.
Normal Course Issuer Bid
The Company has been approved by the Toronto Stock Exchange for a normal course issuer bid to purchase up to 1,305,000 of its common shares which will expire on September 19, 2014. As at November 8, 2013 the Company has not made any purchases under this bid. As at November 8, 2013, ClubLink has 26,107,871 common shares outstanding.
Corporate Profile
ClubLink is engaged in golf club operations under the trade-mark, "ClubLink One Membership More Golf®" ClubLink is Canada's largest owner and operator of golf clubs with 52.5 18-hole equivalent championship and six 18-hole equivalent academy courses at 43 locations, primarily in Ontario, Quebec and Florida.
ClubLink is also engaged in rail, tourism and port operations based in Skagway, Alaska, which operates under the trade name "White Pass & Yukon Route." The railway stretches approximately 177 kilometres (110 miles) from Skagway, Alaska, through British Columbia to Whitehorse, Yukon. In addition, ClubLink operates three docks primarily for cruise ships.
Management's discussion and analysis, financial statements and other disclosure information relating to the Company is available through SEDAR and at and on the Company website at .
Contacts:
ClubLink Enterprises Limited
Mr. Robert Visentin,
Chief Financial Officer
905-841-5360
905-841-1134 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 08.11.2013 - 21:08 Uhr
Sprache: Deutsch
News-ID 314558
Anzahl Zeichen: 0
contact information:
Town:
KING CITY, ONTARIO
Kategorie:
Recreation
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