Advertisement
WINNIPEG, MANITOBA -- (Marketwire) -- 02/13/13 -- Winpak Ltd. (TSX: WPK) today reports consolidated results in US dollars for the fourth quarter of 2012, which ended on December 30, 2012.
Quarter Ended Year Ended (1) ---------------------------------------------------- December 30 December 25 December 30 December 25 2012 2011 2012 2011 ----------------------------------------------------(thousands of US dollars, except per share amounts)Revenue 173,226 171,516 670,078 652,063 ---------------------------------------------------- ----------------------------------------------------Net income 22,238 18,681 72,811 64,909 ---------------------------------------------------- ----------------------------------------------------Income tax expense 9,532 9,219 31,692 30,653Net finance income (285) (295) (1,011) (552)Depreciation and amortization 6,491 7,578 26,197 27,615 ----------------------------------------------------EBITDA (2) 37,976 35,183 129,689 122,625 ---------------------------------------------------- ----------------------------------------------------Net income attributable to equity holders of the Company 22,335 18,486 72,376 63,783Net income attributable to non-controlling interests (97) 195 435 1,126 ----------------------------------------------------Net income 22,238 18,681 72,811 64,909 ---------------------------------------------------- ----------------------------------------------------Basic and fully diluted earnings per share (cents) 34 28 111 98 ---------------------------------------------------- ----------------------------------------------------
Winpak Ltd. manufactures and distributes high-quality packaging materials and related packaging machines. The Company's products are used primarily for the packaging of perishable foods, beverages and in health-care applications.
(1) The 2012 fiscal year comprised 53 weeks and the 2011 fiscal year comprised 52 weeks. Each quarter of 2012 and 2011 comprised 13 weeks with the exception of the first quarter of 2012, which comprised 14 weeks.
(2) EBITDA is not a recognized measure under International Financial Reporting Standards (IFRS). Management believes that in addition to net income, this measure provides useful supplemental information to investors including an indication of cash available for distribution prior to debt service, capital expenditures and income taxes. Investors should be cautioned, however, that this measure should not be construed as an alternative to net income, determined in accordance with IFRS, as an indicator of the Company's performance. The Company's method of calculating this measure may differ from other companies, and accordingly, the results may not be comparable.
