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Canlan Ice Sports Q2 loss widens 25.3% YOY


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Banking Essentials Newsletter: September Edition

Canlan Ice Sports Q2 loss widens 25.3% YOY

Canlan Ice Sports Corp. said its normalized net income for the second quarter amounted to a loss of 14 Canadian cents per share, compared with a loss of 11 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.8 million, compared with a loss of C$1.4 million in the prior-year period.

The normalized profit margin rose to negative 7.0% from negative 8.3% in the year-earlier period.

Total revenue rose on an annual basis to C$18.2 million from C$17.5 million, and total operating expenses increased year over year to C$19.5 million from C$19.2 million.

Reported net income totaled a loss of C$3.8 million, or a loss of 28 cents per share, compared to a loss of C$1.9 million, or a loss of 14 cents per share, in the prior-year period.