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SOURCE Newfoundland Capital Corporation Limited
DARTMOUTH, NS, Nov. 9, 2017 /CNW/ - Newfoundland Capital Corporation Limited (the "Company") today announces its financial results for the third quarter ended September 30, 2017.
"The Company had a successful third quarter, which made up for the challenging start to 2017 and positioned us for another successful year," commented Rob Steele, President and Chief Executive Officer. "Our continued strong results have allowed us to reward our shareholders through a significant increase in our annual dividend."
Financial Highlights - Third Quarter
Three months ended September 30
(thousands of Canadian dollars, except share information)
Earnings per share - basic
Earnings per share - diluted
Weighted average number of shares outstanding (in thousands)
Share price, NCC.A (closing)
Long-term debt, including current portion
The Company's complete Third Quarter Report, which includes the unaudited condensed interim consolidated financial statements along with related notes in accordance with International Accounting Standard ("IAS") 34, Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB") and the Management's Discussion and Analysis, are available on the Company's website at www.ncc.ca and www.sedar.com.
(1) Non-IFRS Accounting Measure
Adjusted EBITDA is a measure that is not defined by International Financial Reporting Standards and is not standardized for public issuers. This measure may not be comparable to similar measures presented by other public enterprises. The Company believes this is an important measure because the Company's key decision makers use this measure internally to evaluate the performance of management. The Company's key decision makers also believe certain investors use it as a measure of the Company's financial performance and for valuation purposes. A calculation of this measure is included in the Company's Third Quarter Report.
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) owns and operates Newcap Radio which is one of Canada's leading radio broadcasters with 101 broadcast licences (72 radio stations and 29 repeating signals) across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.
This press release contains forward looking statements. These forward-looking statements are based on current expectations. The use of terminology such as "expect", "intend", "anticipate", "believe", "may", "will", "should", "would", "plan" and other similar terminology relate to, but are not limited to, our objectives, goals, plans, strategies, intentions, outlook and estimates. By their very nature, these statements involve inherent risks and uncertainties, many of which are beyond the Company's control, which could cause actual results to differ materially from those expressed in such forward-looking statements. As a result, there is no guarantee that any forward-looking statements will materialize and readers are cautioned not to place undue reliance on these statements. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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