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SOURCE Newfoundland Capital Corporation Limited
DARTMOUTH, NS, March 8, 2018 /CNW/ - Newfoundland Capital Corporation Limited (the "Company") today announces its financial results for the fourth quarter ending December 31, 2017.
"We achieved a successful 2017, growing Adjusted EBITDA in a year when revenue was steady," commented Rob Steele, Chairman, President and Chief Executive Officer. "The Company is focussed on radio and will continue to invest in our existing operations as well as seek out opportunities for expansion that are beneficial to our shareholders."
Financial Highlights – Fourth quarter
Three months ended December 31
(thousands of Canadian dollars, except share information)
Adjusted EBITDA (1)
Earnings per share – basic
Earnings per share – diluted
Weighted average number of shares outstanding (in thousands)
Share price, NCC.A (closing)
Long-term debt, including current portion
The Company's annual audited consolidated financial statements along with related notes and the annual Management's Discussion and Analysis are available on the Company's website at www.ncc.ca and www.sedar.com. The Company's Annual Report will be available on the Company's website at www.ncc.ca and www.sedar.com by March 31, 2018.
(1) Non-IFRS Accounting Measure
Adjusted 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 found in the Company's annual Management's Discussion and Analysis.
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) owns and operates Newcap Radio which is one of Canada's leading radio broadcasters with 101 broadcast licences (72 radio stations and 29 repeating signals) 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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