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CALGARY, ALBERTA -- (Marketwire) -- 02/13/13 -- Newalta Corporation ("Newalta") (TSX: NAL) today reported results for the fourth quarter and year ended December 31, 2012.
FINANCIAL HIGHLIGHTS(1)
Three months ended Year ended December 31, December 31,($000s except % Increase % Increase per share data) 2012 2011 (Decrease) 2012 2011 (Decrease)----------------------------------------------------------------------------Revenue 198,445 184,089 8 726,209 682,828 6Gross profit 39,037 42,740 (9) 169,758 165,509 3 - % of revenue 20% 23% (13) 23% 24% (4)Net earnings 4,124 6,031 (32) 42,804 33,562 28 - per share ($) - basic 0.08 0.12 (33) 0.86 0.69 25 - per share ($) - basic adjusted(2) 0.17 0.19 (11) 0.84 0.85 (1) - per share ($) - diluted 0.08 0.12 (33) 0.85 0.68 25Adjusted EBITDA(2) 33,290 36,677 (9) 142,136 146,475 (3) - per share ($)(2) 0.63 0.76 (17) 2.86 3.02 (5)Cash from operations 47,392 51,390 (8) 97,179 104,563 (7) - per share ($) 0.90 1.06 (15) 1.96 2.15 (9)Funds from operations(2) 22,303 25,352 (12) 116,616 122,775 (5) - per share ($)(2) 0.42 0.52 (19) 2.35 2.53 (7)Maintenance capital expenditures(2) 12,089 11,914 1 34,952 31,051 13Growth capital expenditures(2) 45,311 33,375 36 137,388 86,629 59Dividends declared 5,424 3,889 39 18,918 14,818 28 - per share ($)(2) 0.10 0.08 25 0.38 0.31 23Dividends paid 4,870 3,888 25 17,382 14,082 23Book value per share, December 31 11.82 11.15 6 11.82 11.15 6Weighted average shares outstanding 52,741 48,569 9 49,690 48,569 2Shares outstanding, December 31(3) 54,263 48,607 12 54,263 48,607 12----------------------------------------------------------------------------
(1) Management's Discussion and Analysis and Newalta's Consolidated Financial Statements and notes are attached. References to Generally Accepted Accounting Principles ("GAAP") are synonymous with IFRS and references to Consolidated Financial Statements and notes are synonymous with Financial Statements.
(2) These financial measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers. Non-GAAP financial measures are identified and defined throughout the attached Management's Discussion and Analysis.
(3) Newalta has 54,410,235 shares outstanding as at February 13, 2013.
Management Commentary
