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SOURCE Newfoundland Capital Corporation Limited
DARTMOUTH, NS, May 8, 2014 /CNW/ - Newfoundland Capital Corporation Limited ("Company") today announces its financial results for the first quarter ending March 31, 2014.
"We are very pleased to have completed the Toronto and Vancouver business acquisition. These are the two largest radio advertising markets in the country and our primary focus is to effectively integrate these new operations. The addition of these licences is transformational, making us a true coast-to-coast broadcaster", commented Rob Steele, President and Chief Executive Officer. "At the same time we will continue to drive revenue, both locally and nationally, as aggressively as possible, to ensure the continued success of our organic operations."
|Financial Highlights - First Quarter|
|(thousands of dollars except share information)||2014||2013|
|Profit (loss) for the period||(3,204)||2,095|
|Earnings (loss) per share - basic||(0.11)||0.07|
|Earnings (loss) per share - diluted||(0.11)||0.07|
|Share price, NCC.A (closing)||9.01||9.40|
|Weighted average number of shares outstanding (in thousands)||28,144||29,183|
The Company's complete First Quarter Report, which includes the unaudited condensed interim consolidated financial statements along with related notes in accordance with International Financial Reporting Standards ("IFRS") and the Management's Discussion and Analysis, are available on the Company's website at www.ncc.ca and www.sedar.com.
(1) Non-IFRS Accounting Measure
EBITDA is a measure that is not defined by International Financial Reporting Standards and is not standardized for public issuers. This measure may not be comparable to similar measures presented by other public enterprises. The Company believes this is an important measure because the Company's key decision makers use this measure internally to evaluate the performance of management. The Company's key decision makers also believe certain investors use it as a measure of the Company's financial performance and for valuation purposes. A calculation of this measure is included in the Company's First Quarter Report.
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of Canada's leading radio broadcasters with 95 licences across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking. This press release contains forward looking statements. These forward-looking statements are based on current expectations. The use of terminology such as "expect", "intend", "anticipate", "believe", "may", "will", "should", "would", "plan" and other similar terminology relate to, but are not limited to, our objectives, goals, plans, strategies, intentions, outlook and estimates. By their very nature, these statements involve inherent risks and uncertainties, many of which are beyond the Company's control, which could cause actual results to differ materially from those expressed in such forward-looking statements. As a result, there is no guarantee that any forward-looking statements will materialize and readers are cautioned not to place undue reliance on these statements. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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