The Becker Milk Company Limited: Six Month Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 12/16/13 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the six months ended October 31, 2013.
HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Significant components of the $419,245 increase in net income between the six months ended October 31, 2013 compared to the six months ended October 31, 2012 are:
Changes in net income - six months ended October 31, 2013 compared to six months ended October 31, 2012
NET OPERATING INCOME
Net operating income for the six months ended October 31, 2013, decreased by $83,274 to $1,683,458 compared to $1,766,732 in 2012. The decrease was predominantly the result of both reduced rental revenues and increased property operating expenses.
ADJUSTED FUNDS FROM OPERATIONS
For the six months ended October 31, 2013 the Company recorded Adjusted funds from operations of $843,310 ($0.47 per share) compared to $1,054,546 ($0.58 per share) in 2012. This decrease is largely the result of lower operating income and higher current taxes.
SALE OF COMPANY
As reported in a press release dated August 6, 2013 the Company has retained PriceWaterhouseCoopers Real Estate Inc. to explore the possible sale of the Company. This process has not reached any conclusion and is ongoing. In support of this process an engineering firm has been engaged to conduct a property condition survey and an environmental assessment of all properties at an estimated cost of $300,000.
The Company's quarterly financial statements for the six months ended October 31, 2013, 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: 16.12.2013 - 17:03 Uhr
Sprache: Deutsch
News-ID 1291428
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