CGI Announces Second Quarter Fiscal 2000 Results; Year-to-date Revenue Up 16.7%, Second Quarter EBITDA Up 9.9%.Business Editors & High Tech Writers MONTREAL--(BUSINESS WIRE)--April 26, 2000 CGI Group CGI Group Inc. (TSX: GIB.A, NYSE: GIB) is a Canadian-based information technology (IT) management and business process services (BPS) company. Founded in 1976 as Conseillers en Gestion et Informatique Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GIB See NIST binary. .A) (NYSE NYSE See: New York Stock Exchange :GIB) today announced results for the six months and three months ended March 31, 2000. All amounts are in Canadian dollars Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin" loonie dollar - the basic monetary unit in many countries; equal to 100 cents . For the first six months of fiscal 2000, revenue increased 16.7% to $785.2 million, from $673.1 million in the first half of fiscal 1999. The increase reflects the acquisition of a U.S.-based systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. in July July: see month. 1999 and new contracts. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become increased 16.5% to $118.0 million, from $101.3 million in the first half of fiscal 1999. Earnings before amortization of goodwill were ahead 17.2% to $55.1 million or $0.20 per share, from $47.1 million or $0.18 per share the previous year. Net earnings increased 17.4% to $46.4 million or $0.17 per share, fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. , from $39.5 million or $0.15 per share fully diluted the same period a year ago. The net margin was 5.9%, compared with 5.9% for the first half of fiscal 1999. Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. increased by 29.7% to $82.6 million ($0.31 per share) from $63.7 million ($0.24 per share) in the first half of fiscal 1999. For the three months ended March 31, 2000, revenue increased 12.3% to $380.5 million from $338.8 million. EBITDA increased 9.9% to $57.9 million from $52.7 million. Earnings before amortization of goodwill increased 10.8% to $27.8 million ($0.10 per share) from $25.1 million ($0.09 per share) in the second quarter of fiscal 1999. Net earnings increased 10.2% to $23.4 million or $0.09 per share fully diluted, from $21.3 million or $0.08 per share fully diluted the previous year. The net margin was 6.2%, compared with 6.3% in the second quarter of fiscal 1999. The company's balance sheet remains strong with $37.4 million of cash, $172.9 million of working capital and a debt to equity ratio The debt to equity ratio (D/E) is a financial ratio indicating the relative proportion of equity and debt used to finance a company's assets. It is equal to total debt divided by shareholders' equity. of 0.09:1. "After devoting significant time and financial resources to ensuring their Year 2000 preparedness pre·par·ed·ness n. The state of being prepared, especially military readiness for combat. Noun 1. preparedness - the state of having been made ready or prepared for use or action (especially military action); "putting them , our clients have reviewed their IT plans in the first months of calendar 2000," said Serge serge 1 n. A twilled cloth of worsted or worsted and wool, often used for suits. [Middle English sarge, from Old French, from Vulgar Latin *s Godin Godin is a French surname, one that is especially common in French Canada. People with the surname Godin
Since the first quarter of fiscal 2000, there have been a number of initiatives: -- In January January: see month. , CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. announced agreements with the federal government for the implementation of several thousand installations of records, documents and information management systems (RDIMS RDIMS Records, Document and Information Management System (Canadian federal government) ) software amounting to $8 million in licences and services. Initially awarded by the Treasury Board in 1998, the contract has a potential value of up to $109 million. -- In February February: see month. , CGI announced a $50 million investment over two years to consolidate Consolidate To combine the assets, liabilities, and other financial items of two or more entities into one. Notes: This term is generally used in the context of consolidated financial statements. its position in the e-business sector. The company is investing in its web-enabling capabilities and related intellectual property, including developing its portfolio of solutions and extending its network of centres of expertise. -- In March, CGI announced the creation of a joint venture with Loto-Quebec to offer solutions and services to the gaming industry around the world, including the development and sale of IT solutions, consulting and management services. CGI and Loto-Quebec estimate that the venture will generate revenue of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $100 million over five years. -- In March, CGI, known in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). as Certis, announced a $7.5million five-year agreement to provide eircom eircom Group plc is the largest telecommunications operator in the Republic of Ireland. As Bord Telecom Éireann plc, the company was (until 1999) a state monopoly; as a private company it continues to dominate many telecommunications areas, its main competitors being ntl: , an Irish telecommunications company See telecom company. , with training and other support services related to eircom's call centre offering. -- In March, CGI announced a strategic agreement whereby Nordic- based property and casualty insurance company If P&C has selected CGI's web-enabled insurance solution GIOS GIOS Generalized Infinite Order Sudden to become the foundation for its overall product offering. GIOS is a highly flexible component-based solution for all aspects of administration for all forms of insurance products. It is adaptable a·dapt·a·ble adj. Capable of adapting or of being adapted. a·dapt  a·bil to any market with multi-language, multi-currencycapability for multiple distribution channels. Subsequent events -- Earlier this month, after the end of the second quarter, CGI announced an application service provider (ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). ) alliance agreement with SAP sap, fluid in plants consisting of water and dissolved substances. Cell sap refers to this fluid present in the large vacuole, or cell cavity, that occupies most of the central portion of mature plant cells. Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of for medium and large-sized enterprises in Canada. The partnership makes CGI one of SAP Canada's key business solution services providers for clients who wish to acquire enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) solutions through a hosted, ASP model. This partnership is another step in CGI's overall e-business strategy. -- CGI recently announced the signing of a $100 million, five-year renewable contract with The Co-operators General Insurance Company. The agreement represents the expansion of an IT services contract initially signed in 1997. As part of the new agreement, The Co-operators General Insurance Company has committed to acquiring IT services from CGI with a total value of at least CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $100 million. CGI also becomes a preferred IT services supplier for The Co-operators General Insurance Company, which ranks as Canada's third largest property & casualty insurance company. CGI is the largest Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. firm and the fifth largest independent IT consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , based on its revenue run rate of CDN$1.5 billion. Its order backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. totals CDN$7.2 billion. CGI has 10,000 professionals and provides end-to-end end-to-end a pattern of anastomosis in which severed ends are matched and united, in contrast with other patterns such as end-to-side or side-to-side. Usually applied to anastomosis of the intestine. IT services and business solutions to 2,500 clients in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and more than 23 countries around the world. CGI's shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (GIB), as well as on the Toronto Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing exchange (GIB.A). They are included in the Toronto Stock Exchange's TSE 300 Composite composite, alternate common name for Asteraceae or Compositae, the aster family. composite - aggregate and TSE 100 indexes. Web site:www.cgi.ca. All statements contained in this or any other press release of CGI Group Inc., or in any document filed by the Company with the U.S. Securities and Exchange Commission, or in any other written or oral communication by or on behalf of the Company, that do not directly and exclusively relate to historical facts, constitute "forward looking statements" within the meaning of the U.S. Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Report Act of 1995. These statements represent the Company's expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. This press release may contain forward looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the company's business and results of operations. There are a number of factors that could cause actual results to differ materially from those indicated. Such factors include, without limitation, the various factors set forth in the Company's annual report or Form 40F filed with the SEC and its Annual Information Form filed with Canadian securities commissions, which important factors are included here by reference.
-0-
CGI GROUP INC.
Consolidated statements of earnings
(in thousands of dollars, except earnings per share) (unaudited)
---------------------------------------------------------------
Three months ended March 31
2000 1999
---------------------------------------------------------------
$ $
Revenue 380,533 338,790
---------------------------------------------------------------
Operating expenses
Costs of services, selling
and administrative expenses 319,973 283,809
Research and development 2,650 2,296
---------------------------------------------------------------
322,623 286,105
---------------------------------------------------------------
Operating earnings (EBITDA) before: 57,910 52,685
---------------------------------------------------------------
Depreciation and amortization of
fixed assets 6,727 6,741
Amortization of costs related to
outsourcing contracts 5,155 3,993
Amortization of software and
development costs - 468
---------------------------------------------------------------
11,882 11,202
---------------------------------------------------------------
Earnings before the following items 46,028 41,483
---------------------------------------------------------------
Interest
Long-term debt (944) (291)
Other - -
Income 1,287 1,977
---------------------------------------------------------------
343 1,686
---------------------------------------------------------------
Earnings before income taxes, amortization
of goodwill and entity
subject to significant influence 46,371 43,169
Income taxes 18,600 18,108
---------------------------------------------------------------
Earnings before amortization of goodwill
and entity
subject to significant influence 27,771 25,061
Entity subject to significant influence 15 18
---------------------------------------------------------------
Earnings before amortization of goodwill 27,786 25,079
Amortization of goodwill, net of
income taxes 4,374 3,826
---------------------------------------------------------------
Net earnings 23,412 21,253
---------------------------------------------------------------
Weighted average number of outstanding
Class A subordinate shares and
Class B shares 270,154,613 268,069,188
---------------------------------------------------------------
Earnings per share before amortization
of goodwill 0.10 0.09
---------------------------------------------------------------
Basic and fully diluted earnings per share 0.09 0.08
---------------------------------------------------------------
CGI GROUP INC.
Consolidated statements of earnings
(in thousands of dollars, except earnings per share)(unaudited)
---------------------------------------------------------------
Six months ended March 31
2000 1999
---------------------------------------------------------------
$ $
Revenue 785,206 673,138
---------------------------------------------------------------
Operating expenses
Costs of services, selling and
administrative expenses 661,783 567,497
Research and development 5,410 4,368
---------------------------------------------------------------
667,193 571,865
---------------------------------------------------------------
Operating earnings (EBITDA) before: 118,013 101,273
---------------------------------------------------------------
Depreciation and amortization of
fixed assets 13,794 13,659
Amortization of costs related to
outsourcing contracts 11,496 8,071
Amortization of software and
development costs - 937
---------------------------------------------------------------
25,290 22,667
---------------------------------------------------------------
Earnings before the following items 92,723 78,606
---------------------------------------------------------------
Interest
Long-term debt (1,879) (470)
Other (182) -
Income 2,503 3,479
---------------------------------------------------------------
442 3,009
---------------------------------------------------------------
Earnings before income taxes, amortization
of goodwill and entity subject to
significant influence 93,165 81,615
Income taxes 38,079 34,600
---------------------------------------------------------------
Earnings before amortization of goodwill
and entity subject to significant
influence 55,086 47,015
---------------------------------------------------------------
Entity subject to significant influence 51 37
---------------------------------------------------------------
Earnings before amortization of goodwill 55,137 47,052
Amortization of goodwill, net of
income taxes 8,766 7,562
---------------------------------------------------------------
Net earnings 46,371 39,490
---------------------------------------------------------------
Weighted average number of outstanding
Class A subordinate shares and
Class B shares 269,709,197 267,463,686
---------------------------------------------------------------
Earnings per share before amortization
of goodwill 0.20 0.18
---------------------------------------------------------------
Basic and fully diluted earnings per share 0.17 0.15
---------------------------------------------------------------
CGI GROUP INC.
Consolidated statements of retained earnings
(in thousands of dollars) (unaudited)
---------------------------------------------------------------
Three months ended Six months ended
March 31 March 31
2000 1999 2000 1999
---------------------------------------------------------------
$ $ $ $
Retained earnings at
beginning 150,449 73,501 139,080 55,264
Prior year adjustment - - (11,590) -
---------------------------------------------------------------
Adjusted retained
earnings 150,449 73,501 127,490 55,264
Net earnings 23,412 21,253 46,371 39,490
---------------------------------------------------------------
Retained earnings at end 173,861 94,754 173,861 94,754
---------------------------------------------------------------
CGI GROUP INC.
Consolidated balance sheets as at March 31
(in thousands of dollars) (unaudited)
---------------------------------------------------------------
2000 1999
---------------------------------------------------------------
$ $
Assets
Current assets
Cash and cash equivalents 37,396 107,044
Accounts receivable 213,018 216,961
Future income taxes 3,476 -
Work in progress 91,483 18,926
Prepaid expenses and other current assets 28,484 9,312
---------------------------------------------------------------
373,857 352,243
Investment in an entity subject to
significant influence 1,248 658
Fixed assets 59,886 58,202
Costs related to outsourcing contracts 98,948 65,934
Software and development costs - 937
Future income taxes 18,630 -
Deferred income taxes - 15,287
Goodwill 340,754 298,963
---------------------------------------------------------------
893,323 792,224
---------------------------------------------------------------
Liabilities
Current liabilities
Accounts payable and accrued liabilities 169,224 235,915
Income taxes 7,211 15,003
Deferred revenue 13,988 4,533
Future income taxes 5,779 -
Deferred income taxes - 5,967
Current portion of long-term debt 4,754 6,800
---------------------------------------------------------------
200,956 268,218
Future income taxes 25,185 -
Deferred income taxes - -
Long-term debt 52,851 5,984
---------------------------------------------------------------
278,992 274,202
---------------------------------------------------------------
Shareholders' equity
Capital stock 440,337 423,057
Contributed surplus 211 211
Retained earnings 173,861 94,754
Cumulative translation adjustment (Note 1) (78) -
---------------------------------------------------------------
614,331 518,022
---------------------------------------------------------------
893,323 792,224
---------------------------------------------------------------
CGI GROUP INC.
Consolidated statements of cash flows for the six-month periods
ended March 31 (in thousands of dollars) (unaudited)
---------------------------------------------------------------
2000 1999
---------------------------------------------------------------
$ $
Operating activities
Net earnings 46,371 39,490
Adjustments for:
Depreciation and amortization of fixed
assets 13,794 13,659
Loss on disposal of fixed assets 131 -
Amortization of costs related to
outsourcing contracts 11,496 8,071
Amortization of software and development
costs - 937
Amortization of goodwill 9,433 7,643
Future income taxes 1,532 -
Deferred income taxes - (4,701)
Foreign exchange gain (99) (1,467)
Entity subject to significant influence (51) (37)
Other - 96
---------------------------------------------------------------
Operating cash flow 82,607 63,691
---------------------------------------------------------------
Changes in non-cash operating working capital items:
Accounts receivable (2,188) (30,761)
Work in progress (11,584) (6,717)
Prepaid expenses and other current
assets (14,812) 2,476
Accounts payable and accrued liabilities (37,254) 22,003
Income taxes 2,111 (11,392)
Deferred revenue (7,363) (6,780)
---------------------------------------------------------------
(71,090) (31,171)
---------------------------------------------------------------
Cash provided by operating activities 11,517 32,520
---------------------------------------------------------------
Financing activities
Addition of long-term debt 591 5,899
Reduction of long-term debt (3,385) (4,406)
Issuance of shares 10,148 4,285
---------------------------------------------------------------
Cash provided by financing activities 7,354 5,778
---------------------------------------------------------------
Investing activities
Business acquisitions (2,892) (23,182)
Entity subject to significant influence (514) -
Purchase of fixed assets (9,682) (15,114)
Proceeds from sale of fixed assets 297 -
Costs related to outsourcing contracts (10,446) (14,113)
---------------------------------------------------------------
Cash used for investing activities (23,237) (52,409)
---------------------------------------------------------------
Effect of exchange rate changes on cash
and cash equivalents (467) (263)
---------------------------------------------------------------
Net decrease in cash position (4,833) (14,374)
Cash position at beginning 42,229 121,418
---------------------------------------------------------------
Cash position at end 37,396 107,044
---------------------------------------------------------------
Interest paid 2,061 470
Income taxes paid 38,847 50,612
---------------------------------------------------------------
CGI GROUP INC.
Notes to the consolidated financial statements for the six-month
periods ended March 31, 2000 and 1999 (in thousands of dollars)
(unaudited)
Note 1 - Change in accounting policy
Effective January 1, 2000, the Company reclassified its U.S.
subsidiary companies from integrated foreign operations to
self-sustaining foreign operations as a result of changes in the
economic facts and circumstances. Accordingly, translation gains and
losses resulting from the translation of the financial statements of
these operations using the current rate method are accumulated and
reported as foreign currency translation adjustments in shareholders'
equity. This change has been applied prospectively.
CGI GROUP INC.
Notes to the consolidated financial statements for the six-month
periods ended March 31, 2000 and 1999 (in thousands of dollars)
(unaudited)
Note 2 - Segmented information.
The Company provides information technology services. The
following presents information on the Company's operations based on
its internal organizational structure.
---------------------------------------------------------------
As of and for the three-month period ended March 31, 2000
Ontario, Telecom-
Atlantic munications
Quebec Provinces Quebec & U.S.
Ontario
---------------------------------------------------------------
$ $ $ $
Revenue 69,026 86,710 122,677 53,073
Operating expenses 54,512 72,898 105,259 48,773
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 14,514 13,812 17,418 4,300
Depreciation and
amortization 2,897 3,652 1,484 1,261
---------------------------------------------------------------
Earnings before interest,
income taxes, entity subject
to significant influence
and amortization of
goodwill 11,617 10,160 15,934 3,039
---------------------------------------------------------------
Total assets 93,923 162,745 228,609 169,302
---------------------------------------------------------------
---------------------------------------------------------------
As of and for the three-month period ended March 31, 1999
---------------------------------------------------------------
Ontario, Telecom-
Atlantic munications
Quebec Provinces Quebec & U.S.
Ontario
---------------------------------------------------------------
$ $ $ $
Revenue 76,137 85,758 120,665 28,435
Operating expenses 61,919 70,494 101,015 25,342
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 14,218 15,264 19,650 3,093
Depreciation and
amortization 3,279 3,261 2,295 891
---------------------------------------------------------------
Earnings before interest,
income taxes, entity subject
to significant influence
and amortization of
goodwill 10,939 12,003 17,355 2,202
---------------------------------------------------------------
Total assets 121,027 143,183 189,541 82,130
---------------------------------------------------------------
CGI GROUP INC.
Notes to the consolidated financial statements for the six-month
periods ended March 31, 2000 and 1999 (in thousands of dollars)
(unaudited)
Note 2 - Segmented information.
The Company provides information technology services. The
following presents information on the Company's operations based on
its internal organizational structure.
---------------------------------------------------------------
As of and for the three-month period ended March 31, 2000
---------------------------------------------------------------
Intersegment
Other Corporate elimi- Total
nation
---------------------------------------------------------------
$ $ $ $
Revenue 65,546 0 (16,499) 380,533
Operating expenses 56,226 1,454 (16,499) 322,623
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 9,320 (1,454) 0 57,910
Depreciation and
amortization 1,425 1,163 0 11,882
---------------------------------------------------------------
Earnings before interest,
income taxes, entity subject
to significant influence
and amortization of
goodwill 7,895 (2,617) 0 46,028
---------------------------------------------------------------
Total assets 178,882 60,462 0 893,323
---------------------------------------------------------------
---------------------------------------------------------------
As of and for the three-month period ended March 31, 1999
---------------------------------------------------------------
Intersegment
Other Corporate elimi- Total
nation
---------------------------------------------------------------
$ $ $ $
Revenue 39,029 0 (11,234) 338,790
Operating expenses 36,540 2,029 (11,234) 286,105
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 2,489 (2,029) 0 52,685
Depreciation and
amortization 1,476 0 0 11,202
---------------------------------------------------------------
Earnings before interest,
income taxes,
entity subject to significant
influence
and amortization of
goodwill 1,013 (2,029) 0 41,483
---------------------------------------------------------------
Total assets 137,534 118,809 0 792,224
---------------------------------------------------------------
---------------------------------------------------------------
As of and for the six-month period ended March 31, 2000
---------------------------------------------------------------
Ontario, Telecom-
Atlantic munications
Quebec Provinces Quebec & U.S.
Ontario
---------------------------------------------------------------
$ $ $ $
Revenue 135,471 178,957 262,900 105,990
Operating expenses 107,786 148,166 226,866 97,193
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 27,685 30,791 36,034 8,797
Depreciation and
amortization 6,447 7,590 3,411 2,382
---------------------------------------------------------------
Earnings before interest,
income taxes,
entity subject to significant
influence
and amortization of
goodwill 21,238 23,201 32,623 6,415
---------------------------------------------------------------
Total assets 93,923 162,745 228,609 169,302
---------------------------------------------------------------
---------------------------------------------------------------
As of and for the six-month period ended March 31, 1999
---------------------------------------------------------------
Ontario, Telecom-
Atlantic munications
Quebec Provinces Quebec & U.S.
Ontario
---------------------------------------------------------------
$ $ $ $
Revenue 136,278 161,100 266,401 56,238
Operating expenses 110,950 135,625 220,439 48,901
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 25,328 25,475 45,962 7,337
Depreciation and
amortization 6,018 6,520 5,070 2,052
---------------------------------------------------------------
Earnings before interest,
income taxes, entity subject
to significant influence
and amortization of
goodwill 19,310 18,955 40,892 5,285
---------------------------------------------------------------
Total assets 121,027 143,183 189,541 82,130
---------------------------------------------------------------
---------------------------------------------------------------
As of and for the six-month period ended March 31, 2000
---------------------------------------------------------------
Intersegment
Other Corporate elimi- Total
nation
---------------------------------------------------------------
$ $ $ $
Revenue 145,059 0 (43,171) 785,206
Operating expenses 127,715 2,638 (43,171) 667,193
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 17,344 (2,638) 0 118,013
Depreciation and
amortization 3,126 2,334 0 25,290
---------------------------------------------------------------
Earnings before interest,
income taxes, entity subject
to significant influence
and amortization of
goodwill 14,218 (4,972) 0 92,723
---------------------------------------------------------------
Total assets 178,882 60,462 0 893,323
---------------------------------------------------------------
---------------------------------------------------------------
As of and for the six-month period ended March 31, 1999
---------------------------------------------------------------
Intersegment
Other Corporate elimi- Total
nation
---------------------------------------------------------------
$ $ $ $
Revenue 78,019 0 (24,898) 673,138
Operating expenses 72,421 8,427 (24,898) 571,865
---------------------------------------------------------------
Operating earnings (EBITDA)
before: 5,598 (8,427) 0 101,273
Depreciation and
amortization 3,007 0 0 22,667
---------------------------------------------------------------
Earnings before interest,
income taxes, entity subject
to significant influence
and amortization of
goodwill 2,591 (8,427) 0 78,606
---------------------------------------------------------------
Total assets 137,534 118,809 0 792,224
---------------------------------------------------------------
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion