CALGARY, ALBERTA--(Marketwired - Aug. 22, 2013) - Pro-Trans Ventures Inc. ("Pro-Trans" or the "Company") (TSX VENTURE:PVI) is pleased to announce the Company's financial results for the second quarter of 2013.
Revenue for the second quarter was $15.5 million, as compared to $13.3 million in the previous quarter. This resulted in EBITDA for the quarter of approximately $1.2 million and a comprehensive loss of $(160) thousand or ($0.01) per share. This compares with a Q1 2013 EBITDA of $674 thousand and a comprehensive loss of $(331) thousand or ($0.01) per share. On a year over year basis, this compares to a Q2 2012 revenues of $18.3 million, EBITDA of $2.3 million and comprehensive income of $835,187 or $.03 per share.
Darby Kreitz, the interim CEO of the Company stated, "The Company continues its strategic focus to meet its customers' production objectives while enhancing operational efficiencies in support of profitability. A modest improvement in production demands by the customers of our principal operating subsidiary, Maple Leaf Loading has enabled Maple Leaf to grow revenue from the low of Q4 2012 into Q1 2013 and continue through Q2 2013 which has provided management with reason for optimism for the remainder of 2013."
"While Maple Leaf and therefore Pro-Trans has been negatively impacted by the volatility in metallurgical coal prices, we continue to believe that the long term fundamentals remain strong for the mining sector. This is evidenced by a new contract entered into with Pretium Resources Inc. for the logistics of the bulk sample of their Brucejack project located in Northwest British Columbia," he added.
Condensed Consolidated Financial Statements for the quarter ended June 30, 2013 have been filed on SEDAR at www.sedar.com along with Management's Discussion and Analysis of these financial statements.
Pro-Trans is a Calgary based public company listed on the TSX Venture Exchange. The Company is actively involved in specialized transportation and logistics services within Western Canada, primarily through its wholly owned subsidiary, Maple Leaf Loading Ltd., based in Prince George, B.C. Maple Leaf Loading Ltd., a mining support company, offers specialized transportation services related to the management, handling and transportation of coal and ore concentrates for customers involved in the mining industry in B.C., Alberta, and the Yukon.
Earnings Before Interest Taxes Depreciation and Amortization ("EBITDA") is a measurement intended to provide useful insight into Results of Operations before financing costs, taxes, depreciation and amortization. EBITDA is not an earnings measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS. Readers are cautioned that EBITDA should not be construed as an alternative to net income as determined in accordance with IFRS.
EBITDA is determined by beginning with earnings from operations as determined in accordance with GAAP then adding back any long term interest expense, provisions for taxes, depreciation and amortization included in earnings from operations. A reconciliation of net income to EBITDA is provided in the Management's Discussion and Analysis referenced above.
This press release contains certain statements or disclosures relating to Pro-Trans that are based on the expectations of Pro-Trans as well as assumptions made by and information currently available to Pro-Trans which may constitute forward-looking information under applicable securities laws. In particular, this press release contains forward-looking information related to the future financial and operational performance of the Corporation and the outlook for the Canadian mining industry in general. Such forward looking information involves material assumptions and known and unknown risks and uncertainties, certain of which are beyond Pro-Trans' control. Many factors could cause the performance or achievement by Pro-Trans to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking information. Pro-Trans' Annual Information Form, Management's Discussion and Analysis and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. Pro-Trans disclaims any intention or obligation to publicly update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
Neither the 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.