Contrans Income Fund Announces First Quarter Results.WOODSTOCK, Ontario Woodstock (2006 population: 35,480) is a city and the county seat of Oxford County in southwestern Ontario, Canada. Woodstock is located 128 kilometres southwest of Toronto, north off Highway 401, along the historic Thames River. -- Contrans Income Fund (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CSS (1) See Cascading Style Sheets. (2) (Content Scrambling System) The copy protection system applied to DVDs, which uses a 40-bit key to encrypt the movie. .UN) -
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Canadian dollars
(in thousands except per unit amounts) 2005 2004
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Revenue - transportation services(1) $ 90,667 $ 79,842
Revenue - fuel surcharges 9,028 3,624
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Revenue - total $ 99,695 $ 83,466
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Net income $ 5,974 $ 5,254
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Operating cash flow before changes
in non-cash working capital $ 10,182 $ 9,089
Proceeds from disposals of property
and equipment 1,136 451
(2) (2,278) (266)
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Maintenance capital expenditures
Distributable cash earned(2) $ 9,040 $ 9,274
Distributions declared 8,710 7,864
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Distributable cash per unit $ 0.32 $ 0.37
Distributions declared per unit $ 0.31 $ 0.31
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Weighted average # of units
outstanding - basic 27,864 25,134
Weighted average # of units
outstanding - diluted 28,240 25,134
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(1) Management believes that it is important to isolate isolate /iso·late/ (i´sah-lat) 1. to separate from others. 2. a group of individuals prevented by geographic, genetic, ecologic, social, or artificial barriers from interbreeding with others of their kind. the effects of fuel surcharges, a volatile source of revenue, when analyzing operating results. Management regards revenue from transportation services as the relevant indicator of business level activity. (2) Distributable cash and maintenance capital expenditures are not measures recognized by generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting in Canada (GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). ), do not have standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. meanings prescribed pre·scribe v. pre·scribed, pre·scrib·ing, pre·scribes v.tr. 1. To set down as a rule or guide; enjoin. See Synonyms at dictate. 2. To order the use of (a medicine or other treatment). by GAAP and are therefore unlikely to be comparable to similarly named measures presented by other issuers. However, management believes that they are important and useful measures in evaluating the performance of the Fund. "Contrans continued to enjoy great success in the first quarter of 2005," stated Chairman and Chief Executive Officer, Stan STAN Stanchion STAN Stärke- und Ausrüstungsnachweis (German) Stan Standard Man (human patient simulator) STAN SEMCIP Technical Assistance Network STAN System Trace Audit Number STAN Star Trek Area Network Dunford. "While things started out slowly in the quarter, with our eastern Canadian operations hampered by a strike at a major customer, our volumes picked up in March. Our acquisitions that we made in 2004 contributed positively to our income and cash flow. In addition, Contrans has continued to benefit from a favourable pricing environment created by the prolonged pro·long tr.v. pro·longed, pro·long·ing, pro·longs 1. To lengthen in duration; protract. 2. To lengthen in extent. shortage of available drivers." "Distributable cash earned exceeded distributions paid during the quarter," Mr. Dunford added. "This was achieved in spite of increased maintenance capital expenditures compared to the previous year." Contrans Income Fund (TSX:CSS.UN) |
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