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Capstone books lower EBITDA, net income in Q4'17

Capstone Infrastructure Corp.'s fourth-quarter 2017 EBITDA decreased to C$28.5 million from C$36.6 million in the same period in 2016, according to a March 6 earnings release.

Revenue for the quarter increased to C$41.6 million from C$40.1 million a year ago, while expenses fell to C$12.9 million from C$15.3 million in the last quarter of 2016.

The company posted fourth-quarter net income of C$2.1 million, dropping from C$21.6 million in the comparable prior-year period.

For full-year 2017, Capstone booked EBITDA of C$110.1 million, up from C$108.2 million in 2016. Revenue fell to C$154.2 million from C$172.9 million, while expenses decreased to C$53.1 million from C$92.1 million.

Net income in 2017 rose to C$118.4 million from a net loss of C$15.5 million in 2016, primarily due to the sale of Värmevärden in the first quarter, partially offset by the 2016 contributions from Bristol Water, which Capstone sold in December 2016.