The Becker Milk Company Limited: Three Month Financial Results and Regular Dividends
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/13/11 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the six months ending October 31, 2011.
These results are, and all future results will be, reported under International Financial Reporting Standards (IFRS) and historical results have been restated to IFRS for comparison purposes. Reconciliations between IFRS and Canadian Generally Accepted Accounting Principles have been included in the Company's unaudited interim financial statements for the period ended October 31, 2011.
Significant components of the $930,470 change in net income between the six months ended October 31, 2011 compared to the six months ended October 31, 2010 are:
NET OPERATING INCOME
Net operating income for the six months ended October 31, 2011, decreased by $24,691 to $1,655,851 compared to $1,680,542 in 2010. The decrease was predominantly the result of a one-time retroactive allowance to a significant tenant for rent amounts resulting from the successful completion of a number of lease renewal negotiations;
For the six months ended October 31, 2011 the Company recorded Adjusted funds from operations of $786,959 ($0.44 per share) compared to $778,675 ($0.43 per share) in 2010. This increase is largely the result of lower sustaining capital expenditures during the most recent period.
The Company's interim unaudited financial statements for the six months ended October 31, 2011, along with the Management's Discussion and Analysis will be filed with SEDAR at .
Readers are cautioned that although the terms "Net Operating Income", and "Funds From Operations" are commonly used to measure, compare and explain the operating and financial performance of Canadian real estate companies and such terms are defined in the Management's Discussion and Analysis, such terms are not recognized terms under Canadian generally accepted accounting principles. Such terms do not necessarily have a standardized meaning and may not be comparable to similarly titled measures presented by the other publicly traded entities.
For the Board of Directors
G.W.J. Pottow, President
Contacts:
The Becker Milk Company Limited
G.W.J. Pottow
President
416-698-2591
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Datum: 13.12.2011 - 08:03 Uhr
Sprache: Deutsch
News-ID 1065420
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