Financials
Financial Highlights
| |
Three Months Ended
June 30 |
Six Months Ended
June 30 |
| ($ in thousands except per share amounts) |
2010 |
2009 |
2010 |
2009 |
| Revenue |
$ 32,659 |
$ 18,856 |
$ 83,432 |
$74,132 |
| Adjusted EBITDA(1) |
10,345 |
713 |
22,275 |
18,148 |
| Net income (loss) |
385 |
(4,227) |
1,683 |
776 |
| Per share - basic and diluted |
$ 0.01 |
($ 0.08) |
$ 0.03 |
$ 0.01 |
| Funds from (used in) operations |
4,193 |
(1,015) |
15,645 |
10,209 |
| Per share - basic and diluted |
$ 0.08 |
($ 0.02) |
$ 0.29 |
$ 0.19 |
| |
|
|
|
|
| Electricity Deliveries (MWh) |
261,960 |
199,778 |
646,595 |
532,112 |
| Net Generation Capacity (MW)(2) |
809 |
773 |
809 |
773 |
| Average Alberta Prices ($ per MWh) |
$ 81 |
$ 32 |
$ 61 |
$ 48 |
| Average Milner Realized Electricity Price ($ per MWh) |
$ 93 |
$ 33 |
$ 64 |
$ 52 |
(1) Select financial information was derived from the unaudited interim consolidated financial statements and is prepared in accordance with Canadian generally accepted accounting principles ("GAAP"), except Adjusted EBITDA and Funds from operations ("FFO"). Adjusted EBITDA is provided to assist management and investors in determining the Corporation's approximate operating cash flows before interest, income taxes, and depreciation and amortization and FFO is provided to assist management and investors in determining the Corporation's cash flows generated by operations before the cash impact of working capital fluctuations. Adjusted EBITDA and FFO do not have any standardized meaning prescribed by Canadian GAAP and may not be comparable to similar measures presented by other companies. Refer to Non-GAAP measures section of the MD&A for reconciliations between non-GAAP financial measures and comparable measures calculated in accordance with Canadian GAAP.
(2) Generation Capacity is manufacturer's nameplate capacity net of minority ownership interests of third parties.
