CERF Incorporated Announces 2014 Year End and Fourth Quarter Results and First Quarter Dividend
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 03/30/15 -- CERF Incorporated (the "Company" or "CERF") (TSX VENTURE: CFL) today declared its 2015 first quarter dividend of $0.06 per share ($0.24 annually) and announced its financial and operating results for the year ended December 31, 2014 ("year-end") and the three months ended December 31, 2014 ("Q4"). Payment will be made on or about April 15, 2015, to shareholders of record as of the close of business on April 8, 2015. The ex-dividend date is April 6, 2015.
"We are pleased to announce that 2014 was a record financial year for CERF," said Wayne Wadley, President and CEO of CERF. "We made large strides during the year, effectively acquiring and integrating two significant entities and expanding our footprint in Western Canada''s energy services industry. Both have added to our earnings and provide a great platform for future growth. With these acquisitions, CERF now has a balanced weighting of revenue between its industrials and energy services divisions.
In context of current oil and gas market conditions, CERF has been proactive to reduce capital expenditures, staffing and operating costs for both divisions. These aggressive steps in combination with a strong balance sheet and industry diversification are the reasons why CERF is able to maintain its dividend. We will continue to be vigilant in monitoring the performance of each division."
FULL YEAR 2014 & FOURTH QUARTER HIGHLIGHTS
Amounts in the following tables are presented in thousands of dollars, except for per share amounts and percentages.
(1,2) See Financial Measures Reconciliations on page 7 of CERF''s Fourth Quarter 2014 MD&A and see accompanying notes to the Condensed Consolidated Interim Financial Statements.
FINANCIAL HIGHLIGHTS
OPERATING HIGHLIGHTS
Energy Services Division
Industrials Division - Equipment Rentals & Waste Management Segments
Equipment Rentals Segment
Waste Management Segment
Conference Call
CERF will host a conference call on March 30, 2015 at 3:30 p.m. MST (5:30 p.m. EST). To access the conference call by telephone dial toll-free 1-866-223-7781. Callers from the Toronto area should use (416) 340-2216. Please connect approximately 10 minutes prior to the beginning of the call.
The conference call will be available for replay two hours after the call ends at toll-free 1-800-408-3053. Callers from the Toronto area should use (905) 694-9451. It will remain available at the link above until April 14, 2015.
Full details of the Company''s financial results, in the form of the audited, condensed, consolidated interim financial statements and notes for the three months ended December 31, 2014 and Management''s Discussion and Analysis of the results are available on SEDAR at and on the Company''s website at .
About CERF Incorporated
CERF is a Canadian public corporation with two primary divisions: industrials and energy services. The industrials division is engaged in the rental of industrial and construction equipment and waste management. The energy services division is engaged in the rental of surface rentals, downhole equipment and accommodations to the Western Canadian Oil and Gas Industry. CERF has paid consecutive quarterly dividends since 2005 and trades on the TSX Venture Exchange under the symbol "CFL". CERF currently has 36,213,947 common shares issued and outstanding.
FORWARD-LOOKING STATEMENTS
Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information, including management''s assessment of expected activity levels continuing through 2015, and expected decrease in demand for rental equipment over the next year as well as forecasted economic measures for the Province of Alberta and oil and natural gas prices and the effect on drilling programs as a result of the decline in oil prices. Forward-looking statements or information may contain statements with the words "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "budget", "should", "project", "would have realized'', "may have been" or similar words suggesting future outcomes or expectations. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties. These assumptions include that demand for industrial rental equipment, will remain relatively constant or grow marginally through 2015, that the economic downturn caused by the low oil price environment will not affect the performance of the waste management segment, that the Company''s proactive cost cutting measures currently being implemented will protect future margins and that the Company''s diverse operations will protect against profound down swings in the economic environment. Although management believes these assumptions are reasonable, there can be no assurance that they will be proved to be correct, and actual results will differ materially from those anticipated. For this purpose, any statements herein that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless it is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.
This press release also makes reference to certain non-IFRS measures, which management believes assists in assessing the Company''s financial performance. Readers are directed to the section below entitled "Financial Measures Reconciliations" for an explanation of the non-IFRS measures used.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
CERF Incorporated
Wayne Wadley
President and CEO
(403) 850-4095
CERF Incorporated
Derrek Wong, MBA, CFA, FCMA
Vice President, Finance and CFO
(403) 354-5440
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Datum: 30.03.2015 - 14:33 Uhr
Sprache: Deutsch
News-ID 1347759
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contact information:
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CALGARY, ALBERTA
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Kategorie:
Waste Management
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