Clublink Corporation Announces Third Quarter Results.KING CITY, Ontario--(BUSINESS WIRE)--Nov. 21, 1995--CLUBLINK CORPORATION(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :LNK LNK Love and Kisses LNK Lincoln, NE, USA - Municipal Airport (Airport Code) LNK Laisvas Nepriklausomas Kanalas (Lithuanian TV) LNK Linkcentre (website) ) ClubLink Corporation today announced its third quarter results. Net income for the three months ended September September: see month. 30, 1995 was $314,373 or one cent per share, (1994 - $845,885 or two cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ) and net cash flow was $932,693 or two cents per share (1994 - $1,131,901 or two cents per share) on revenue of $7,956,540 (1994 - $4,987,977). The income from operations for the nine months ended September 30, 1995 was $3,398,898 or six cents per share (1994 - $4,076,740 or seven cents per share). The net loss for the nine months ended September 30, 1995 was $309,401 or one cent per share (1994 - net income of $2,072,849 or four cents per share) on revenue of $15,415,303 (1994 - $10,165,877). ClubLink owns five golf clubs in the Toronto area - King Valley Golf Club in King City; Greystone Golf Club in Milton; Heron Point Golf Links in Ancaster; Emerald Hills Emerald Hill may refer to:
A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , ClubLink Properties Limited, ClubLink has built The Lake Joseph Club golf course and Water's Edge Restaurant in Muskoka and is developing residential accommodation on approximately 550 acres of land adjacent to ClubLink's golf clubs. -0- ClubLink Corporation Consolidated Statement of Operations See Income statement. For the Three Months ended September 30 and Nine Months ended September 30 (Unaudited) Three Months Ended Three Months Ended September 30 September 30 1995 1994 1995 1994 Revenue Operating revenue $6,530,242 $4,144,103 $11,895,805 $6,474,998 Membership fees 1,426,298 843,874 3,519,498 3,690,879 --------- --------- --------- --------- 7,956,540 4,987,977 15,415,303 10,165,877 --------- --------- --------- --------- Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. Cost of goods sold 1,742,304 806,158 2,589,903 1,285,109 Facilities and course maintenance 1,497,362 870,112 3,216,523 1,700,632 Selling, general and administrative 2,909,039 1,750,699 6,209,979 3,103,396 --------- --------- --------- --------- 6,148,705 3,426,969 12,016,405 6,089,137 --------- --------- --------- --------- Income from operations 1,807,835 1,561,008 3,398,898 4,076,740 --------- --------- --------- --------- Depreciation and amortization 618,320 286,016 1,776,169 812,270 Interest on long term financing 825,142 384,108 1,842,130 1,101,621 --------- --------- --------- --------- 1,443,462 670,124 3,618,299 1,913,891 --------- --------- --------- --------- Income (loss) before taxes 364,373 890,885 (219,401) 2,162,849 Provision for taxes (50,000) (45,000) (90,000) (90,000) --------- --------- --------- --------- Net income (loss) $314,373 $845,885 $(309,401) $2,072,849 --------- --------- --------- --------- --------- --------- --------- --------- Basic earnings per share $0.01 $0.02 ($0.01) $0.04 --------- --------- --------- --------- --------- --------- --------- --------- CONTACT: Bruce S Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. . Simmonds, President or Kim S. Robinson, Chief Financial Officer ClubLink Corporation (905) 841-3730 (905) 841-7033 (Fax) |
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