Financial Statements. For the three months ended March 31, Manitoba Telecom Services Inc.
|
|
- Elvin Charles
- 7 years ago
- Views:
Transcription
1 Financial Statements For the three months ended March 31, 2013 Manitoba Telecom Services Inc.
2 CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME AND OTHER COMPREHENSIVE INCOME For the three months ended March (in millions of Canadian dollars, except earnings per share) Note (restated - Note 4) Operating revenues $ $ Operating expenses Operations Depreciation and amortization Operating income Other expense Finance costs (0.2) (0.7) (20.2) (19.9) Income before income taxes Income tax expense Net income for the period $ 30.9 $ 45.4 Other comprehensive income Items never subsequently reclassified to net income Net actuarial gains from defined benefit plans and other employee benefits $ 58.0 $ 68.4 Deferred taxes on items in other comprehensive income (15.6) (17.5) Other comprehensive income for the period, net of tax Total comprehensive income for the period $ 73.3 $ 96.3 Basic and diluted earnings per share 7 $ 0.46 $ 0.69 Page 1
3 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Share Contributed (in millions of Canadian dollars) Note capital surplus Deficit Total Balance at December 31, 2012 $ 1,337.2 $ 21.2 $ (549.3) $ Prior period adjustment Restated balance as at December 31, , (536.8) Net income for the period Other comprehensive income for the period Total comprehensive income for the period Share-based compensation Issuance of shares Dividends declared - - (28.6) (28.6) Balance at March 31, 2013 $ 1,345.7 $ 21.3 $ (492.1) $ Balance at December 31, 2011 $ 1,303.7 $ 20.6 $ (534.6) $ Prior period adjustment Restated balance as at December 31, , (522.1) Net income for the period, as restated Other comprehensive income for the period, as restated Total comprehensive income for the period Share-based compensation Issuance of shares Dividends declared - - (28.2) (28.2) Balance at March 31, 2012 $ 1,311.8 $ 20.8 $ (454.0) $ Page 2
4 CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION March 31 December (in millions of Canadian dollars) Note (restated - Note 3) Assets Current assets Accounts receivable $ $ Prepaid expenses Inventories Property, plant and equipment 1, ,559.5 Intangible assets Other assets Deferred tax assets Total assets $ 2,698.4 $ 2,731.8 Liabilities and shareholders' equity Current liabilities Bank indebtedness $ 12.2 $ 12.6 Accounts payable and accrued liabilities Advance billings and payments Current provisions Notes payable Long-term debt Long-term provisions Employee benefits Other long-term liabilities Deferred tax liabilities Total liabilities 1, ,910.2 Shareholders' equity Share capital 10 1, ,337.2 Contributed surplus Deficit (492.1) (536.8) Total liabilities and shareholders' equity $ 2,698.4 $ 2,731.8 Page 3
5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the three months ended March (in millions of Canadian dollars) Note (restated - Note 4) Cash flows from operating activities Net income $ 30.9 $ 45.4 Add items not affecting cash Depreciation and amortization Deferred income tax expense Loss on disposal of assets Deferred wireless costs (13.5) (16.3) Pre-funded pension solvency payments (70.0) - Other pension funding and net pension expense Other, net (4.1) (3.3) Changes in non-cash working capital (42.6) (35.7) Cash flows from operating activities Cash flows from investing activities Capital expenditures (66.7) (76.9) Other, net (1.0) (1.1) Cash flows used in investing activities (67.7) (78.0) Cash flows from financing activities Dividends paid (28.5) (28.1) Issuance of notes payable Issuance of share capital Other, net (0.1) 0.2 Cash flows from (used in) financing activities 66.4 (19.8) Change in cash and cash equivalents 0.4 (20.5) (Bank indebtedness) cash and cash equivalents, beginning of period (12.6) 16.8 Bank indebtedness, end of period $ (12.2) $ (3.7) Page 4
6 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012 All amounts are in millions of Canadian dollars, unless otherwise indicated 1. CORPORATE INFORMATION Manitoba Telecom Services Inc. ( the Company ) is incorporated in Manitoba, Canada, and its Common Shares are listed on the Toronto Stock Exchange. The Company s head and registered office is located at 333 Main Street, P.O. Box 6666, Winnipeg, Manitoba, Canada, R3C 3V6. 2. SIGNIFICANT ACCOUNTING POLICIES Statement of compliance These interim condensed consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards ( IFRS ) are in compliance with International Accounting Standard ( IAS ) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board ( IASB ). These interim condensed consolidated financial statements have been prepared using the same accounting policies and methods of application as those used in the Company s audited consolidated financial statements for the year ended December 31, 2012, except as described in Note 4. These interim condensed consolidated financial statements should be read in conjunction with the Company s audited consolidated financial statements for the year ended December 31, These interim condensed consolidated financial statements were approved by the Board of Directors on May 8, Basis of presentation These interim condensed consolidated financial statements have been prepared on a historical cost basis, which is generally based on the fair value of the consideration at the time of the transaction. These interim condensed consolidated financial statements are presented in millions of Canadian dollars unless otherwise indicated. 3. PRIOR PERIOD ADJUSTMENT During the first quarter of 2013, the Company reevaluated the assumptions underlying its finance lease obligation and determined, in conjunction with the renewal of the lease arrangement, that the liability associated with the prior lease was overstated. As a result, the Company has retroactively adjusted its statements of financial position and statements of changes in equity to reflect the correction of this error. This adjustment has no impact on the current or prior years statements of net income or statements of cash flows. The adjustment decreases the opening deficit by $12.5 million, increases accounts payable and accrued liabilities by $1.0 million, decreases property, plant and equipment by $0.5 million, and eliminates the current and long-term portions of the finance lease obligations of $6.5 million and $7.5 million, respectively. 4. ADOPTION OF NEW ACCOUNTING STANDARDS Effective January 1, 2013, the Company adopted the following IFRS standards: IFRS 10, Consolidated Financial Statements IFRS 10, Consolidated Financial Statements, provides a single consolidation model that identifies control as the basis for consolidation for all types of entities. IFRS 10 replaces IAS 27, Consolidated and Separate Financial Statements, and Standing Interpretations Committee ( SIC ) 12, Consolidation - Special Purpose Entities. IFRS 11, Joint Arrangements IFRS 11, Joint Arrangements, describes the accounting for arrangements in which there is joint control by focusing on the rights and obligations of the arrangement, rather than its legal form. IFRS 11 also removes the ability to use proportionate consolidation for joint ventures. IFRS 11 replaces IAS 31, Interests in Joint Ventures, and SIC 13, Jointly Controlled Entities - Non-Monetary Contributions by Venturers. Page 5
7 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012 All amounts are in millions of Canadian dollars, unless otherwise indicated 4. ADOPTION OF NEW ACCOUNTING STANDARDS (continued) IFRS 12, Disclosure of Interests in Other Entities IFRS 12, Disclosure of Interests in Other Entities, is a new standard that addresses the disclosure requirements for all interests in other entities, including subsidiaries, joint arrangements, associates and unconsolidated structured entities. IFRS 13, Fair Value Measurement IFRS 13, Fair Value Measurement, replaces the fair value measurement guidance currently dispersed across different IFRS standards with a single definition of fair value and a comprehensive framework for measuring fair value when such measurement is required under other IFRSs. It also establishes disclosure requirements about fair value measurements. These standards have been adopted and applied in these interim condensed consolidated financial statements. The application of these standards has not had any impact on the amounts reported for the current or prior year. Amended IAS 19, Employee Benefits Effective January 1, 2013, the Company adopted the amended version of IAS 19, Employee Benefits which amends the accounting for pensions and other post-employment benefits. It changes the method of calculating the net interest component of pension expense and also expands disclosure requirements for defined benefit plans, providing additional information about the characteristics and associated risks of defined benefit plans. The accounting treatment for termination benefits has also been modified, specifically the point in time when an entity would recognize a liability for termination benefits. The amended standard is to be applied retrospectively. In comparison to the Company s previous accounting policies and basis of presentation, the primary difference in the amended version of IAS 19 is that the current defined benefit plan expense components of interest cost and expected return on plan assets is replaced by the component net interest. Net interest is determined for each defined benefit plan by taking the plan s net surplus or deficit and multiplying it by the liability discount rate. The Company will now recognize the net interest of its defined benefit plans as a component of finance costs. The Company expects that over the long term, the rate of return on plan assets for its defined benefit plans will exceed the liability discount rate because a significant component of the defined benefit plan s assets are invested in equities and real estate. The difference between the actual rate of return on plan assets and the liability discount rate will be recognized in other comprehensive income. As a result, net income will decrease, with a corresponding decrease in other comprehensive loss. This change in accounting policy has been implemented retrospectively. The amended standard did not affect the Company s statement of financial position. The effect on the Company s condensed consolidated statement of net income and other comprehensive income, and on earnings per share is as follows: For the three months ended March 31, 2012 As previously reported Amended IAS 19 impact As restated Operating expenses Finance costs Income tax expense 6.3 (2.9) 3.4 Net income 53.1 (7.7) 45.4 Other comprehensive income Basic and diluted earnings per share ($) 0.80 (0.11) 0.69 Page 6
8 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012 All amounts are in millions of Canadian dollars, unless otherwise indicated 4. ADOPTION OF NEW ACCOUNTING STANDARDS (continued) For the year ended December 31, 2012 As previously reported Amended IAS 19 impact As restated Operating expenses 1, ,118.9 Finance costs Income tax expense 50.0 (11.5) 38.5 Net income (30.9) Other comprehensive loss (76.9) 30.9 (46.0) Basic and diluted earnings per share ($) 2.63 (0.46) ACCOUNTING STANDARDS ISSUED BUT NOT YET EFFECTIVE The Company has not yet adopted certain standards, interpretations to existing standards and amendments which have been issued but have an effective date of later than January 1, With the exception of IFRS 9, Financial Instruments, many of these updates are not relevant to the Company and are therefore not discussed. IFRS 9, issued by the IASB in November 2009 and amended in October 2010, introduces new requirements for the classification and measurement of financial assets and liabilities. IFRS 9 requires all financial assets within the scope of IAS 39, Financial Instruments Recognition and Measurement, to be subsequently measured at amortized cost or fair value, replacing the multiple classification options in IAS 39. IFRS 9 also requires an entity choosing to measure a financial liability at fair value to present the portion of the change in its fair value due to changes in the entity s own credit risk in the other comprehensive income section of the income statement, rather than within the statement of net income. IFRS 9 is effective for annual periods beginning on or after January 1, 2015, with earlier application permitted. The adoption of this standard is not expected to have a material impact on the Company s results and financial position. 6. INCOME TAX EXPENSE Income tax expense is comprised of deferred income taxes of $12.1 million (2012 $3.4 million). Reconciliations between income tax expense and accounting income multiplied by the applicable tax rate for the three months ended March 31, 2013 and March 31, 2012 are as follows: % $ % $ Net income before income taxes Income tax at combined federal and provincial statutory tax rate Effect of: Change in the expected tax rate applicable to deferred tax assets - - (20.9) (10.2) Rate differential on temporary differences - - (0.2) (0.1) Other items Income tax reported in the consolidated statements of net income The statutory tax rate used represents the combined federal and provincial statutory tax rates applicable to the Company s major operating entity. In 2012, the deferred tax asset was increased by $10.2 million, due to a change in the expected tax rate applicable to the deferred tax assets. Page 7
9 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012 All amounts are in millions of Canadian dollars, unless otherwise indicated 6. INCOME TAX EXPENSE (continued) In April 2013, the Company received notification from the Canada Revenue Agency ( CRA ) that CRA would not accept the Company s proposal to settle all outstanding audit issues related to losses accumulated by Allstream and its predecessor companies prior to its acquisition in The Company strongly disagrees with CRA and intends to defend its position through the various options open to it. Therefore, it is not possible to quantify the impact at this time. An unfavourable resolution of these issues would not result in any immediate cash tax outlays, but could result in MTS Inc. becoming cash taxable earlier than previously forecast. 7. EARNINGS PER SHARE The following table provides a reconciliation of the information used to calculate basic and diluted earnings per share: Net income for the period Basic and diluted Weighted average shares outstanding (in millions) Weighted average number of shares outstanding basic and diluted Earnings per share ($) Basic and diluted earnings per share The diluted earnings per share calculation excludes the effect of anti-dilutive options. The number of excluded options was 2,357,807 (2012 1,610,944). 8. DIVIDENDS On May 8, 2013, the Company s Board of Directors declared a quarterly cash dividend of $0.425 per share. During the three months ended March 31, 2013, the Company paid cash dividends of $0.425 per share (2012 $0.425). 9. NOTES PAYABLE As at March 31, 2013, the Company had issued $65.0 million in notes payable under its syndicated credit facility and $76.0 million of shortterm borrowings under the Company s accounts receivable securitization program. 10. SHARE CAPITAL As at March 31, 2013, share capital consists of 67,269,231 issued and outstanding Common Shares (December 31, ,994,852). During the three months ended March 31, 2013, 274,379 Common Shares were issued under the Company s Dividend Reinvestment Plan. These shares were issued for net proceeds of $8.5 million and credited to share capital. Page 8
10 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012 All amounts are in millions of Canadian dollars, unless otherwise indicated 11. SEGMENTED INFORMATION As at March 31, 2013, the Company had two reportable operating segments: MTS and Allstream. MTS provides a full range of wireless, broadband, high-speed Internet, IPTV, converged IP, unified communications, security, home alarm monitoring, local access and long distance services to residential and business customers in Manitoba. Allstream provides IP-based communications, unified communications, hosting, voice and data connectivity, and security services to business customers in Canada. The Company evaluates performance based on earnings before interest, taxes, depreciation and amortization and other expense ( EBITDA ). EBITDA, as reported below, includes intersegment revenues and expenses. The Company accounts for intersegment revenues and expenses at either prices that approximate current market prices or cost, depending on the type of service. The following tables provide further segmented information: MTS Allstream Other Intersegment eliminations Consolidated Three months ended March Operating revenues Wireless Broadband and converged IP Unified communications, hosting, security and monitoring Local access Long distance and legacy data Other (8.5) (8.8) Total operating revenues (8.5) (8.8) EBITDA (0.2) (0.7) Depreciation and amortization Capital expenditures Reconciliation to consolidated income before income taxes is as follows: Three months ended March Income before income taxes Total EBITDA Depreciation and amortization (85.2) (78.5) Other expense (0.2) (0.7) Finance costs (20.2) (19.9) Income before income taxes SUBSEQUENT EVENT In April 2013 the Company commenced a workforce reduction program with an estimated cost of $10 million which will be recognized in the second quarter of Page 9
Financial Statements. Manitoba Telecom Services Inc.
2013 Financial Statements For the years ended December 31, 2013 and 2012 Manitoba Telecom Services Inc. Deloitte LLP 360 Main Street Suite 2300 Winnipeg MB R3C 3Z3 Canada Tel: 204-942-0051 Fax: 204-947-9390
More information5N PLUS INC. Condensed Interim Consolidated Financial Statements (Unaudited) For the three month periods ended March 31, 2016 and 2015 (in thousands
Condensed Interim Consolidated Financial Statements (Unaudited) (in thousands of United States dollars) Condensed Interim Consolidated Statements of Financial Position (in thousands of United States dollars)
More information(unaudited expressed in Canadian Dollars)
Condensed Consolidated Interim Financial Statements of CARGOJET INC. For the three month periods ended (unaudited expressed in Canadian Dollars) This page intentionally left blank Condensed Consolidated
More informationTUCKAMORE CAPITAL MANAGEMENT INC.
Consolidated Interim Financial Statements of TUCKAMORE CAPITAL MANAGEMENT INC. Three and Six Months Ended June 30, 2013 and 2012 (Unaudited) These statements have not been reviewed by an independent firm
More informationOperating Revenues Service revenues and other $ 28,217 $ 28,611 (1.4) Wireless equipment revenues 3,954 3,373 17.2 Total Operating Revenues
Condensed Consolidated Statements of Income (dollars in millions, except per share amounts) Operating Revenues Service revenues and other $ 28,217 $ 28,611 (1.4) Wireless equipment revenues 3,954 3,373
More informationNOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Condensed Interim Consolidated Financial Statements of THE BRICK LTD. For the three months ended March 31, 2013 NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102,
More informationDATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015
For Immediate Release DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015 SECOND QUARTER HIGHLIGHTS Second quarter 2015 ( Q2 ) Revenues of $73.4 million, a decrease of 4.3% year over year
More informationCondensed Interim Financial Statements Fiscal 2013 First Quarter (Unaudited) For the three months ended July 31, 2012 and 2011
Condensed Interim Financial Statements Fiscal 2013 First Quarter (Unaudited) CRITICAL OUTCOME TECHNOLOGIES INC Page 2 Condensed Interim Financial Statements Table of Contents Notice of No Audit or Review
More informationInterim Condensed Consolidated Financial Statements NOBLE IRON INC. For the three months ended March 31, 2015 and 2014 (Unaudited)
Interim Condensed Consolidated Financial Statements NOBLE IRON INC. MANAGEMENT S COMMENTS ON UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL
More informationACER INCORPORATED AND SUBSIDIARIES. Consolidated Balance Sheets
Consolidated Balance Sheets June 30, 2015, December 31, 2014, and (June 30, 2015 and 2014 are reviewed, not audited) Assets 2015.6.30 2014.12.31 2014.6.30 Current assets: Cash and cash equivalents $ 36,400,657
More informationCONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2013 AND 2012.
CONDENSED (Unaudited) (presented in Canadian dollars unless otherwise noted) CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION December 31 As at 2013 2012 Note $ $ Assets Current assets Cash
More informationNUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited)
NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) ($Cdn thousands) Assets Current assets Cash and cash equivalents $ - $ - Accounts receivable and prepaids 42,980 30,317 Assets
More informationCONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS September 30, 2015 (Unaudited) TSX-V: ANF. www.anfieldnickel.com
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS September 30, 2015 () TSX-V: ANF www.anfieldnickel.com NOTICE OF NO AUDITOR REVIEW The unaudited condensed consolidated interim financial statements,
More informationWestern Energy Services Corp. Condensed Consolidated Financial Statements September 30, 2015 and 2014 (Unaudited)
Condensed Consolidated Financial Statements September 30, 2015 and 2014 (Unaudited) Condensed Consolidated Balance Sheets (Unaudited) (thousands of Canadian dollars) Note September 30, 2015 December 31,
More informationHolloway Lodging Corporation. Interim Consolidated Condensed Financial Statements (Unaudited) June 30, 2015 (in thousands of Canadian dollars)
Interim Consolidated Condensed Financial Statements August 12, Management s Report The accompanying unaudited interim consolidated condensed financial statements of Holloway Lodging Corporation (the Company
More informationNUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited)
NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) ($Cdn thousands) Assets Current assets Cash and cash equivalents $ - $ - Accounts receivable and prepaids 35,443 30,317 Assets
More informationinterim Consolidated financial statements For the nine months ended September 30, 2011 and 2010 (Unaudited)
interim Consolidated financial statements For the nine months ended September 30, 2011 and 2010 (Unaudited) consolidated financial statements 2 Condensed Interim Consolidated Statements of Operations and
More informationTHE EMPIRE LIFE INSURANCE COMPANY
THE EMPIRE LIFE INSURANCE COMPANY Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2013 Unaudited Issue Date: August 9, 2013 These condensed interim consolidated financial
More informationInterim Financial Statements
[Type text] Interim Financial Statements KCA Deutag Alpha Limited For the twelve months ended 31 December 2015 Page 1 of 11 Table of Contents Consolidated income statement... 3 Consolidated statement of
More informationDATA GROUP LTD. ANNOUNCES FIRST QUARTER RESULTS FOR 2014
For Immediate Release DATA GROUP LTD. ANNOUNCES FIRST QUARTER RESULTS FOR 2014 HIGHLIGHTS Q1 2014 First quarter 2014 ( Q1 ) Revenues of 77.9 million, Q1 Gross Profit of 18.8 million and Q1 Net Income of
More informationInterim Condensed Consolidated Financial Statements NOBLE IRON INC. For the three months ended March 31, 2014 and 2013 (Unaudited)
Interim Condensed Consolidated Financial Statements NOBLE IRON INC. MANAGEMENT S COMMENTS ON UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL
More informationATS AUTOMATION TOOLING SYSTEMS INC.
Interim Consolidated Financial Statements For the period ended June 29, 2014 (Unaudited) (Condensed) Interim Consolidated Statements of Financial Position (in thousands of Canadian dollars unaudited) June
More informationInterim Condensed Consolidated Financial Statements (unaudited)
Q1 Interim Condensed Consolidated Financial Statements (unaudited) As at and for the three-month periods ended March 31, 2012 and 2011 SNC-Lavalin Group Inc. INTERIM CONDENSED CONSOLIDATED STATEMENTS OF
More informationEMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) TABLE 1 Quarter Ended March 31, Percent Change Net Sales $ 5,854 $ 5,919 1% Costs and expenses: Cost of sales 3,548 3,583
More informationA&W Food Services of Canada Inc. Consolidated Financial Statements December 30, 2012 and January 1, 2012 (in thousands of dollars)
A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, and January 1, (in thousands of dollars) February 12, 2013 Independent Auditor s Report To the Shareholders of A&W Food Services
More informationConsolidated Financial Statements (In Canadian dollars) ACUITYADS INC. Years ended December 31, 2013, 2012 and 2011
Consolidated Financial Statements ACUITYADS INC. KPMG LLP Telephone (416) 228-7000 Yonge Corporate Centre Fax (416) 228-7123 4100 Yonge Street Suite 200 Internet www.kpmg.ca Toronto ON M2P 2H3 Canada To
More informationToscana Resource Corporation Condensed Consolidated Interim Financial Statements
TOSCANA RESOURCE CORPORATION Toscana Resource Corporation Condensed Consolidated Interim Financial Statements March 31, 2012 and 2011 Condensed Consolidated Interim Statements of Financial Position As
More informationCondensed Consolidated Interim Financial Statements of. Three and six months ended March 31, 2016. (Unaudited in U.S. dollars)
Condensed Consolidated Interim Financial Statements of Three and six months ended, 2016 (Unaudited in U.S. dollars) 1 Condensed Consolidated Interim Balance Sheets (Amounts in thousands of U.S. Dollars)
More informationTORSTAR CORPORATION REPORTS SECOND QUARTER RESULTS
PRESS RELEASE TORSTAR CORPORATION REPORTS SECOND QUARTER RESULTS TORONTO, ONTARIO (Marketwired July 30, 2014) Torstar Corporation (TSX:TS.B) today reported financial results for the second quarter ended
More informationCondensed Interim Consolidated Financial Statements
Condensed Interim Consolidated Financial Statements Unaudited (Expressed in Canadian dollars) NOTICE TO READER: These condensed interim consolidated financial statements have not been reviewed by the Company's
More informationTITAN MEDICAL INC. Unaudited Condensed Interim Financial Statements Three and Six Months Ended June 30, 2013 and 2012
Unaudited Condensed Interim Financial Statements Three and and 2012 Unaudited Condensed Interim Balance Sheets As at June 30, 2013 and December 31, 2012 ASSETS CURRENT June 30, 2013 December 31, 2012 Cash
More informationARM Holdings plc Consolidated balance sheet - IFRS
ARM Holdings plc Consolidated balance sheet - IFRS 30 June 31 December 2010 2009 Unaudited Audited 000 000 Assets Current assets: Financial assets: Cash and cash equivalents 53,746 34,489 Short-term investments
More informationCondensed Consolidated Interim Financial Statements (Expressed in U.S. dollars) BALLARD POWER SYSTEMS INC.
Condensed Consolidated Interim Financial Statements (Expressed in U.S. dollars) BALLARD POWER SYSTEMS INC. Consolidated Statement of Financial Position (Expressed in thousands of U.S. dollars) Note March
More informationExpressed in Canadian Dollars - Unaudited
Hatch Interactive Technologies Corp. (Formerly Tosca Resources Corp.) Consolidated Interim Financial Report For the three and nine month periods ended August 31, 2015 Expressed in Canadian Dollars - Unaudited
More informationCondensed Consolidated Interim Financial Statements. Sirius XM Canada Holdings Inc. November 30, 2015 (Unaudited)
Condensed Consolidated Interim Financial Statements Sirius XM Canada Holdings Inc. November 30, 2015 (Unaudited) CONSOLIDATED INTERIM BALANCE SHEETS (Unaudited) At November 30, August 31, (in thousands
More informationTHERATECHNOLOGIES INC.
Interim Consolidated Financial Statements of (In thousands of Canadian dollars) THERATECHNOLOGIES INC. Table of Contents Page Interim Consolidated Financial Positions 1 Interim Consolidated Statements
More information2014 INTERIM REPORT GEARED FOR GROWTH BE A PART OF IT.
2014 INTERIM REPORT Q3 GEARED FOR GROWTH BE A PART OF IT. Interim Management s Discussion and Analysis as at September 30, 2014 Quarterly highlights 1 Preliminary comments to the Management s Discussion
More informationZOOMERMEDIA LIMITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three and Nine Months Ended March 31, 2013 and 2012 (These financial statements have not been reviewed nor audited by an independent audit
More informationGrenville Strategic Royalty Corp. Interim Condensed Consolidated Financial Statements For the three months ended March 31, 2016 (Unaudited)
Interim Condensed Consolidated Financial Statements For the three months (Unaudited) Consolidated Statements of Financial Position (Canadian dollars) Note March 31, 2016 December 31, 2015 Assets Current
More informationConsolidated Balance Sheets
Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:
More informationSymbility Solutions Inc. Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended June 30, 2015
Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended Interim Consolidated Statements of Financial Position (Unaudited - In thousands of Canadian dollars) 2015 As at December 31,
More informationCONSOLIDATED STATEMENT OF INCOME
CONSOLIDATED STATEMENT OF INCOME 4 th quarter (a) 3 rd quarter 4 th quarter 2009 Sales 40,157 40,180 36,228 Excise taxes (4,397) (4,952) (4,933) Revenues from sales 35,760 35,228 31,295 Purchases, net
More informationSymbility Solutions Inc. Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended March 31, 2016
Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended Interim Consolidated Statements of Financial Position (Unaudited - In thousands of Canadian dollars) As at Note March 31, 2016
More informationLearn more about Manitoba Telecom Services Inc. s Q2 2014 results by visiting www.mtsallstream.com/investors.
News release Learn more about Manitoba Telecom Services Inc. s Q2 results by visiting www.mtsallstream.com/investors. Manitoba Telecom Services Inc. reports second-quarter results Consolidated Free cash
More informationCondensed Consolidated Interim Financial Statements of Cornerstone Capital Resources Inc. For the nine months ended September 30, 2011 and 2010
Condensed Consolidated Interim Financial Statements of Cornerstone Capital Resources Inc. For the nine months ended September 30, 2011 and 2010 (Unaudited) NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL
More informationTELUS CORPORATION CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2015
TELUS CORPORATION CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, condensed interim consolidated statements of income and other comprehensive income Three months Periods ended
More informationInterim Unaudited Condensed Consolidated Financial Statements December 31, 2013
Interim Unaudited Condensed Consolidated Financial Statements December 31, February 28, 2014 Management s Report The accompanying interim unaudited condensed consolidated financial statements ( financial
More informationCONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2010 BANKERS PETROLEUM LTD. CONSOLIDATED BALANCE SHEETS (Unaudited, expressed in thousands of US dollars) ASSETS June 30 2010 December 31 2009 Current assets
More informationENGHOUSE SYSTEMS LIMITED
First Quarter Report January 31, 2012 March 6, 2012 To our Shareholders, First quarter revenue was $30.5 million, compared to $28.6 million in the first quarter last year. Results from operating activities
More informationCondensed Interim Consolidated Financial Statements Six months ended October 31, 2011 (Unaudited)
Condensed Interim Consolidated Financial Statements Six months ended October 31, 2011 (Unaudited) 500 435-4 th Avenue S.W. Calgary, AB T2P 3A8 Tel: 403-984-9798 NOTICE TO READER These condensed interim
More informationCondensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3. Condensed Consolidated Balance Sheet 4
CONSOLIDATED FINANCIAL STATEMENTS For the fiscal year ended March 31, 2014 INDEX Page Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3 Condensed Consolidated Balance Sheet
More informationCondensed Interim Financial Statements of MANITOU GOLD INC. Three months ended March 31, 2011 (Unaudited prepared by management)
Condensed Interim Financial Statements of MANITOU GOLD INC. (Unaudited prepared by management) NOTICE TO READER The condensed interim balance sheets of Manitou Gold Inc. as at March 31, 2011 and December
More informationWE ARE DEFINED BY OUR VALUES
Q1 DATA GROUP LTD. Quarter One ended March 31, 2014 WE ARE DEFINED BY OUR VALUES Our success owes much to a set of corporate values which define and drive our culture. We will be innovative, indeed visionary,
More informationConsolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss Sales: Products 864,699 1,041,794 $ 10,114,505 Post sales and rentals 941,610 1,064,555 10,335,485 Other revenue 79,686 89,347 867,447 Total sales 1,885,995 2,195,696
More informationMTS Reports Solid Quarterly Results - Third Quarter 2005 Cash Dividend Declared -
Stock Symbol: MBT NewsRelease MTS Reports Solid Quarterly Results - Third Quarter 2005 Cash Dividend Declared - Fourth consecutive quarter of stable revenues together with solid profitability at National
More informationInterim Condensed Consolidated Financial Statements TEXADA SOFTWARE INC. For the three months ended March 31, 2012 and 2011 (Unaudited)
Interim Condensed Consolidated Financial Statements TEXADA SOFTWARE INC. For the three months ended March 31, 2012 and 2011 (Unaudited) MANAGEMENT S COMMENTS ON UNAUDITED INTERIM CONSOLIDATED FINANCIAL
More informationBIOMARK DIAGNOSTICS INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS. June 30, 2015. (Stated in Canadian Dollars)
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited Prepared by Management) NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102,
More informationPYROGENESIS CANADA INC. AMENDED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD ENDED JUNE 30, 2011
PYROGENESIS CANADA INC. AMENDED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD ENDED JUNE 30, 2011 The unaudited interim condensed consolidated financial statements of (the Company ) for the three and six
More informationConsolidated Statements of Profit or Loss Ricoh Company, Ltd. and Consolidated Subsidiaries For the Years Ended March 31, 2014 and 2015
Consolidated Statements of Profit or Loss Sales: Products 1,041,794 1,071,446 8,928,717 Post sales and rentals 1,064,555 1,068,678 8,905,650 Other revenue 89,347 91,818 765,150 Total sales 2,195,696 2,231,942
More informationSAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2012
SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in
More informationCONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002
CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002 Unaudited Unaudited Note Turnover 2 5,576 5,803 Other net losses (1) (39) 5,575 5,764 Direct costs and operating expenses (1,910)
More informationCondensed Consolidated Interim Financial Statements (In U.S. dollars) (Unaudited) GALANE GOLD LTD.
Condensed Consolidated Interim Financial Statements (In U.S. dollars) (Unaudited) GALANE GOLD LTD. For the three and nine month periods Note to Reader: The accompanying unaudited condensed consolidated
More informationKOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements
Consolidated Financial Statements December 31, 2015 (With Independent Auditors Report Thereon) Contents Page Independent Auditors Report 1 Consolidated Statements of Financial Position 3 Consolidated Statements
More informationMANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2010
MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2010 The following management s discussion and analysis of
More informationContents. Notice to Reader 2
Condensed Consolidated Financial Statements For the interim six month period ended June 30, 2011 (in ) Contents Notice to Reader 2 Condensed Consolidated Financial Statements Statements of Financial Position
More informationConsolidated Statement of Profit or Loss (in million Euro)
Consolidated Statement of Profit or Loss (in million Euro) Q2 2012 Q2 2013 % H1 2012 H1 2013 % Restated * change Restated * change Revenue 779 732-6.0% 1,513 1,437-5.0% Cost of sales (553) (521) -5.8%
More informationConsolidated financial statements
Consolidated financial statements Year ended December 31, 2009 (in blank) Consolidated Financial Statements 2 CONSOLIDATED INCOME STATEMENT... 6 STATEMENT OF COMPREHENSIVE INCOME... 7 CONSOLIDATED STATEMENT
More informationInterim Financial Statements. Opsens Inc. (after merger) Three-month period ended November 30, 2006
Interim Financial Statements Opsens Inc. (after merger) Three-month period ended Interim Financial Statements Three-month period ended Notice These interim financial statements have not been reviewed by
More informationeqube Gaming Limited Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended November 30, 2015 (Unaudited)
Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended November 30, 2015 Notice to Reader The following interim consolidated financial statements and notes have not been
More informationConsolidated Balance Sheets March 31, 2001 and 2000
Financial Statements SEIKAGAKU CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidated Balance Sheets March 31, 2001 and 2000 Assets Current assets: Cash and cash equivalents... Short-term investments (Note
More informationInternational Accounting Standard 7 Statement of cash flows *
International Accounting Standard 7 Statement of cash flows * Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis to assess the ability
More informationLEXAM VG GOLD INC. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS March 31, 2015 (Unaudited)
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS March 31, 2015 (Unaudited) INDEX Page Condensed Interim Consolidated Statements of Financial Position 3 Condensed Interim Consolidated Statements of
More informationAbbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007
Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 The Board of Abbey plc reports a profit before taxation of 18.20m which compares with a profit of 22.57m for
More informationQuarterly Report. For the three month period ended. April 30, 2015
Quarterly Report For the three month period ended April 30, 2015 The attached unaudited interim condensed consolidated financial statements have been prepared by Management of International Datacasting
More information! "#$ %&!& "& ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& "#$ ) &!&.
! "#!""#$%$#$#$"& $'"()*+,$-).,/ 012! "#$ %&!& "& '!(&)!*&%+,-).//0 -#$#3-4' &,'1$1# $!-!(.//0)& +01+///2 *&& - 3+4 &*!&-.,,5///2!(.//+ &!(!-6%(!(.//.$(!(.//0)& 01,///2 //+2% &*!&- 5,0///2 //32%!(.//+
More informationENTREC CORPORATION Interim Consolidated Financial Statements (unaudited) March 31, 2016
ENTREC CORPORATION Interim Consolidated Financial Statements, REVIEW OF INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review
More informationContents. Notice to Reader 2
Condensed Consolidated Financial Statements For the interim nine month period ended September 30, 2011 (in ) Contents Notice to Reader 2 Condensed Consolidated Financial Statements Statements of Financial
More informationConsolidated financial statements of MTY Food Group Inc. November 30, 2015 and 2014
Consolidated financial statements of MTY Food Group Inc. Independent auditor s report...1 2 Consolidated statements of income... 3 Consolidated statements of comprehensive income... 4 Consolidated statements
More informationSAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011
SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in
More informationZOOMERMEDIA LIMITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Three Months Ended September 30, 2011 and 2010 Consolidated Statements of Financial Position (Unaudited) (expressed in Canadian dollars) September
More informationAcceleware Corp. Interim Financial Statements (Unaudited) For the Three Months Ended March 31, 2011 and 2010 (in Canadian dollars)
Interim Financial Statements (Unaudited) For the Three Months Ended Interim Financial Statements (Unaudited) For the Three Months Ended Contents Statements of Financial Position 2 Statements of Comprehensive
More informationAcuityAds Inc. Condensed Consolidated Interim Financial Statements. Three months ended March 31, 2014 and 2013 (Unaudited)
AcuityAds Inc. Condensed Consolidated Interim Financial Statements Condensed Consolidated Interim Statements of Financial Position March 31, December 31, 2014 2013 Assets Current assets: Cash $ 446,034
More informationNorthern Blizzard Resources Inc. Condensed Consolidated Interim Financial Statements For the Three Months Ended March 31, 2016 and 2015 (Unaudited)
Northern Blizzard Resources Inc. Condensed Consolidated Interim Financial Statements (Unaudited) CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION In Canadian $000s (unaudited) As at March
More informationJOHN WILEY & SONS, INC. UNAUDITED SUMMARY OF OPERATIONS FOR THE FIRST QUARTER ENDED JULY 31, 2011 AND 2010 (in thousands, except per share amounts)
UNAUDITED SUMMARY OF OPERATIONS FOR THE FIRST QUARTER ENDED JULY 31, 2011 AND 2010 (in thousands, except per share amounts) US GAAP First Quarter Ended Revenue $ 430,069 407,938 5% Costs and Expenses Cost
More informationInterim report to the shareholders for the six months ended March 31, 2012
Interim report to the shareholders for the six months ended March 31, 2012 CASTING AND EXTRUSION AUTOMOTIVE SOLUTIONS NOTICE TO READER The attached consolidated financial statements have been prepared
More informationfinancial group inc. SECOND QUARTER REPORT for period ended june 30 2011
financial group inc. SECOND QUARTER REPORT for period ended june 30 financial group inc. financial highlights Earnings before income tax decreased 4% to $4.38 million for the six months ending from $4.58
More informationEmpire Company Limited Consolidated Financial Statements May 7, 2016
Consolidated Financial Statements CONTENTS Independent Auditor s Report... 1-2 Consolidated Balance Sheets... 3 Consolidated Statements of (Loss) Earnings... 4 Consolidated Statements of Comprehensive
More informationInterim Consolidated Financial Statements (Unaudited) For the 12-week and 36-week periods ended May 8, 2016
Interim Consolidated Financial Statements For the 12-week and 36-week periods ended This document is being filed with the Canadian securities regulatory authorities via www.sedar.com by and/or on behalf
More informationATS AUTOMATION TOOLING SYSTEMS INC. Annual Audited Consolidated Financial Statements
Annual Audited Consolidated Financial Statements For the year ended March 31, 2014 MANAGEMENT S RESPONSIBILITY FOR FINANCIAL REPORTING The preparation and presentation of the Company s consolidated financial
More informationGUYANA GOLDFIELDS INC.
Condensed Consolidated Interim Financial Statements (Unaudited, Expressed in United States Dollars) Three and Nine Months Ended July 31, 2013 Guyana Goldfields Inc. Condensed Consolidated Interim Balance
More informationStarrex International Ltd.
Consolidated Financial Statements Table of Contents Independent Auditor s Report 1 Consolidated Financial Statements Consolidated Statements of Financial Position 2 Consolidated Statements of Comprehensive
More informationINTEMA SOLUTIONS Inc.
INTEMA SOLUTIONS Inc. Interim Financial Statement (unaudited) For three and six months period ending June 30th 2010 and June 30th 2009. NOTICE REQUIRED UNDER INSTRUMENT 51-102 «CONTINUOUS DISCLOSURE OBLIGATIONS»
More informationPreliminary Final report
Appendix 4E Rule 4.3A Preliminary Final report AMCOR LIMITED ABN 62 000 017 372 1. Details of the reporting period and the previous corresponding period Reporting Period: Year Ended Previous Corresponding
More informationSanDisk Corporation Preliminary Condensed Consolidated Statements of Operations (in thousands, except per share amounts, unaudited)
Preliminary Condensed Consolidated Statements of Operations (in thousands, except per share amounts, unaudited) Revenue $ 1,634,011 $ 1,476,263 $ 3,145,956 $ 2,816,992 Cost of revenue 854,640 789,614 1,595,679
More informationINTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 2011. (Unaudited)
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 2011 (Unaudited) 1 Condensed Consolidated Balance Sheets (Unaudited) September 30, December 31, January 1, (millions
More informationFinancial Results. siemens.com
s Financial Results Fourth Quarter and Fiscal 2015 siemens.com Key figures (in millions of, except where otherwise stated) Volume Q4 % Change Fiscal Year % Change FY 2015 FY 2014 Actual Comp. 1 2015 2014
More information(Formerly CVTech Group Inc.)
(Formerly CVTech Group Inc.) Condensed Interim Consolidated Financial Statements For the three months ended, 2014 Consolidated Statement of Financial Position (in thousands of Canadian dollars) December
More informationQ2 2013. Management s discussion and analysis. For the period ended June 30, 2013. Manitoba Telecom Services Inc.
Q2 2013 Management s discussion and analysis For the period ended June 30, 2013 Manitoba Telecom Services Inc. Table of contents Page Section Content 1 Allstream strategic review process Transaction details
More informationOverview of Business Results for the 2nd Quarter of Fiscal Year Ending March 31, 2012 (2Q FY2011)
November 8, 2011 Overview of Business Results for the 2nd Quarter of Fiscal Year Ending March 31, 2012 () Name of the company: Iwatani Corporation Share traded: TSE, OSE, and NSE first sections Company
More informationSAGICOR FINANCIAL CORPORATION
Interim Financial Statements Nine-months ended September 30, 2015 FINANCIAL RESULTS FOR THE CHAIRMAN S REVIEW The Sagicor Group recorded net income from continuing operations of US $60.4 million for the
More information