Stantec Reports Third Quarter 2011 Results, Growth Fueled by New Projects, Acquisitions
(firmenpresse) - EDMONTON, ALBERTA -- (Marketwire) -- 11/03/11 -- Stantec Inc. (TSX: STN) (NYSE: STN)
Today, Stantec announced solid results for the third quarter of 2011, with several key areas of activity to highlight:
Gross revenue increased 11.3% to C$430.4 million from C$386.7 million in the third quarter of 2010 while net revenue increased 11.7% to C$351.2 million from C$314.5 million. Excluding the impact of a C$7.2 million gain on the sale of equity investments in Q3 10, EBITDA increased 11.9% to C$53.5 million in Q3 11 from C$47.8 million in Q3 10. Excluding the impact of a C$5.9 million after-tax gain on the sale of equity investments in Q3 10, net income increased 13.8% to C$28.9 million in Q3 11 from C$25.4 million in Q3 10, and diluted earnings per share increased 14.5% to C$0.63 in Q3 11 from C$0.55 in Q3 10.
"We continue to show growth and every practice area has continued to win significant projects throughout North America, despite a challenging economy," says Bob Gomes, Stantec president and chief executive officer. "Through the ongoing efforts of our talented staff and valued clients, we remain on course to achieve our long-term strategic goals for growth."
Results for Q3 2011 were positively impacted by an increase in revenue due to organic growth in three of our five practice area units, acquisitions completed in 2010 and 2011 and by strong activity in the mining and oil and gas sectors. Additionally, Stantec's results were positively impacted by a reduction in administrative and marketing expenses as a percentage of net revenue from 41.3% in Q3 10 to 40.0% in Q3 11.
Projects Supporting Growth
The following is an overview of the Company's project activity in the third quarter-newly awarded and continued-as they relate to top and bottom-line strategic growth initiatives:
Continued Growth
Additional Company Activity
Conference Call and Company Information
Stantec's third quarter conference call, being held today at 2:00 PM MDT (4:00 PM EDT), will be broadcast live and archived in the Investors section of . Financial analysts who wish to participate in the earnings conference call are invited to call 1-800-820-0231 and provide the confirmation code 5804124 to the first available operator.
Stantec provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics for infrastructure and facilities projects. We support public and private sector clients in a diverse range of markets at every stage, from the initial conceptualization and financial feasibility study to project completion and beyond. Our services are provided on projects around the world through approximately 11,000 employees operating out of more than 170 locations in North America and 4 locations internationally. Stantec is One Team providing Integrated Solutions.
Cautionary statements
Stantec's gross revenue, net revenue, and EBITDA are non-GAAP measures. For a definition and explanation of non-GAAP measures, refer to the Critical Accounting Estimates, Developments, and Measures section of the Company's 2010 Financial Review.
This press release contains forward-looking statements concerning Stantec's future financial performance and future growth. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this press release not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results to differ materially from the expectations expressed in these forward-looking statements. These factors include, but are not limited to the risk of an economic downturn, changing market conditions for Stantec's services, disruptions in government funding and the risk that Stantec will not meet its growth targets. Investors and the public should carefully consider these factors, other uncertainties, and potential events as well as the inherent uncertainty of forward-looking statements when relying on these statements to make decisions with respect to our Company.
For more information on how other material factors and other factors could affect our results, refer to the Risk Factors section in our 2010 Financial Review and the Caution Regarding Forward-Looking Statements in our 2011 Third Quarter Report. You may obtain these documents by visiting EDGAR on the SEC website at or on the CSA website at
Contacts:
Stantec Media Relations
Danny Craig
(949) 923-6085
Stantec Investor Relations
Crystal Verbeek
(780) 969-3349
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2011 - 08:39 Uhr
Sprache: Deutsch
News-ID 1053156
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
EDMONTON, ALBERTA
Phone:
Kategorie:
Construction
Anmerkungen:
Diese Pressemitteilung wurde bisher 183 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Stantec Reports Third Quarter 2011 Results, Growth Fueled by New Projects, Acquisitions
"
steht unter der journalistisch-redaktionellen Verantwortung von
Stantec Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
