Horizon North Logistics Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, revenue was CAD 139,959,000, operating earnings were CAD 23,209,000, profit before tax was CAD 22,094,000 and total comprehensive income was CAD 16,384,000 or CAD 0.15 per diluted share against revenue of CAD 128,597,000, operating earnings of CAD 26,080,000, profit before tax of CAD 25,432,000 and total comprehensive income of CAD 18,792,000 or CAD 0.17 per diluted share for the same period a year ago. Cash provided by operating activities was CAD 7,443,000 and purchase of property, plant and equipment was CAD 21,252,000 against cash provided by operating activities of CAD 22,028,000 and purchase of property, plant and equipment of CAD 34,177,000 a year ago. EBITDAS was CAD 36,633,000 against CAD 34,445,000 a year ago. Funds from operations was CAD 29,146,000 against CAD 27,423,000 a year ago. Capital spending for 2013 will remain at CAD 80 million, focused primarily on adding 1,000 beds to the camp and catering operations throughout the year. Of the expected 1,000 beds, 36% are under contract to be deployed in the second quarter, primarily in the oil sands region of Alberta on SAGD projects.

Horizon North Logistics Inc. announced that its Board of Directors has declared a dividend for the second quarter of 2013 at CAD 0.0625 per share. The dividend is payable to shareholders of record at the close of business on June 30, 2013 to be paid on July 12, 2013. The dividends are eligible dividends for Canadian tax purposes.

Horizon North Logistics Inc., Q1 2013 Earnings Call, May 01, 2013