Welcome!

Microsoft Cloud Authors: Janakiram MSV, Yeshim Deniz, David H Deans, Andreas Grabner, Stackify Blog

News Feed Item

Gamehost Announces Q3 2012 Earnings and November Dividend

RED DEER, ALBERTA -- (Marketwire) -- 11/12/12 -- Gamehost Inc. (TSX:GH)

Management and Directors of Gamehost Inc. ("Gamehost", the "Company", the "Corporation", "Our") are pleased to present results for the nine months ended September 30, 2012 (the "Period") and three months ended September 30, 2012 (the "Quarter").

Happy Dance

Total operating revenues for the Quarter grew by 6.6% to $18.8 million from $17.6 in the same quarter of 2011. Earnings before interest, taxes, depreciation and amortization ("EBITDA") that is attributable to owners of the Company ("EBITDA to Owners") grew by $0.8 million or 10.6% to $8.3 million for the Quarter compared to $7.5 million for the same quarter in 2011. EBITDA to Owners margin percentage rose by 170 basis points to 46.5% from 44.8% in the Quarter compared to one year earlier. Encompassing the summer vacation season, Q3 is typically a softer quarter for Gamehost compared to the prior Q2 with revenues lower on average by 5%. For Q3 2012 this pattern resulted in a smaller decline of only 2%. Like the good folk enjoying a night of merriment in one of our clubs, we're doing our own version of dancing in the boardroom over these results.

Hello, Our Name Is Gamehost And We're A Hoarder

Yes it's true. We are hoarding cash for the purposes of paying taxes, reducing debt and repurchasing Company stock. While cash balances are $0.5 million less than at the start of the year, we have used surplus cash to repurchase $2.0 million in Company stock or 164,400 shares, reduce our operating line to $nil from $4.0 million and reduce our term debt by a further $1.7 million. Cash flows continue to exceed our earlier projections and a $3.0 million increase to our operating line has been secured for added cushion. We are on track to comfortably meet our estimated tax payment obligations next year which include a balloon payment of $8.5 million for current year and deferred income taxes.

Risk And Reward

Holders of the Company's debentures continued to show appetite for higher returns offered by Gamehost stock dividends despite the added security offered by the debentures. During the Quarter, $4.8 million face value of debentures were presented for conversion to 0.5 million common shares leaving $33.5 million of the original $55.0 million debenture issue outstanding at the end of the Period. Since the beginning of the year $16.7 million in face value debentures have been converted to 1.6 million common shares of Gamehost.

Remembering Mr. Rogers

"Who are the people in your neighbourhood?" Our Calgary neighbours are the residents and employees who live and work around and in closest proximity to our southeast Deerfoot Inn & Casino. Southeast Calgary continues to boast the fastest most diversified growth in the city. The spin-offs of this growth pattern have resulted in above average year over year revenue growth at Deerfoot of 8.7% and a growing share of the total Calgary casino market. Continuing on this note, we were excited to learn of Imperial Oil's plans to relocate its Calgary headquarters to a campus-style office complex in the southeast suburban office park known as Quarry Park. While suburban office parks are not a new thing, this marks the first time an industry oil giant has ventured away from Calgary's downtown core. Imperial Oil's new offices will be located a skip and a jump from our Deerfoot Inn & Casino and will eventually house some 3,000 employees. This announcement is bound to accelerate the residential growth in nearby communities. Relocation for Imperial Oil employees will begin in mid-2014 and we look forward to welcoming our new neighbours and their out-of-town meeting guests to our hotel for years to come. Our northern casino properties in Fort McMurray and Grande Prairie get to cast a wider net over their neighbors. Operating with monopolistic or near monopolistic conditions everyone in these two municipalities is our neighbor when it comes to counting customers.

It was a great Quarter. Thank you for your unshaken faith in management and your investment in Gamehost Inc.

                                                                            
Condensed consolidated interim statement of profit and                      
 comprehensive income                                                       
                                                                            
In Canadian dollars          (unaudited)                 (unaudited)        
                    --------------------------------------------------------
                          nine months ended           three months ended    
                             September 30                September 30       
                    --------------------------------------------------------
                             2012          2011          2012          2011 
                    --------------------------------------------------------
                                                                            
Operating revenue    $ 56,762,112  $ 53,031,656  $ 18,776,562  $ 17,612,172 
Cost of sales                                                               
  Other               (28,338,764)  (27,568,680)   (9,381,135)   (9,206,339)
  Depreciation         (1,617,599)   (1,764,484)     (545,389)     (587,843)
                    --------------------------------------------------------
                      (29,956,363)  (29,333,164)   (9,926,524)   (9,794,182)
                    --------------------------------------------------------
Gross profit           26,805,749    23,698,492     8,850,038     7,817,990 
                                                                            
Other income              180,146       172,129        61,687        60,746 
Administrative                                                              
 expenses                                                                   
  Other                (2,246,408)   (2,209,055)     (754,043)     (635,289)
  Depreciation         (1,703,196)   (1,980,908)     (567,732)     (653,771)
                    --------------------------------------------------------
                       (3,949,604)   (4,189,963)   (1,321,775)   (1,289,060)
                    --------------------------------------------------------
Profit from                                                                 
 operating                                                                  
 activities            23,036,291    19,680,658     7,589,950     6,589,676 
----------------------------------------------------------------------------
                                                                            
Finance income             66,002        60,650        19,733        21,269 
Finance costs          (3,121,638)   (4,348,401)   (1,351,692)   (1,520,187)
                    --------------------------------------------------------
Net finance costs      (3,055,636)   (4,287,751)   (1,331,959)   (1,498,918)
                                                                            
                    --------------------------------------------------------
Profit before income                                                        
 taxes                 19,980,655    15,392,907     6,257,991     5,090,758 
                                                                            
Income tax expense     (4,421,821)   (2,316,295)   (2,051,708)   (1,213,403)
                    --------------------------------------------------------
Profit and                                                                  
 comprehensive                                                              
 income for the                                                             
 period              $ 15,558,834  $ 13,076,612  $  4,206,283  $  3,877,355 
                    --------------------------------------------------------
                                                                            
Profit and                                                                  
 comprehensive                                                              
 income attributable                                                        
 to:                                                                        
  Owners of the                                                             
   Company           $ 14,545,111  $ 12,241,649  $  3,860,961  $  3,606,568 
  Non-controlling                                                           
   interest             1,013,723       834,963       345,322       270,787 
                    --------------------------------------------------------
Profit and                                                                  
 comprehensive                                                              
 income for the                                                             
 period              $ 15,558,834  $ 13,076,612  $  4,206,283  $  3,877,355 
                    --------------------------------------------------------
                                                                            
Earnings per share                                                          
Basic earnings per                                                          
 share               $      0.670  $      0.579  $      0.174  $      0.170 
                                                                            
                                                                            
EBITDA to Owners     $ 25,288,945  $ 22,519,250  $  8,337,358  $  7,537,605 
EBITDA to Owners %           46.7%         44.4%         46.5%         44.8%

November Dividend

Gamehost has declared a cash dividend for the month of November 2012 of $0.0733 per common share. The dividend will be paid on December 14, 2012 to shareholders of record on November 30, 2012. The ex-dividend date is November 28, 2012.

This dividend is considered an "Eligible Dividend" and therefore, eligible for the enhanced gross-up and dividend tax credit available to shareholders.

This press release may contain forward-looking statements. Forward-looking statements may contain words such as "anticipates", "believes", "could", "expects", "indicates", "plans" or other similar expressions that suggest future outcomes or events. Use of these statements reflect reasonable assumptions made on the basis of management's current beliefs with information known by management at the time of writing. Many factors could cause actual results to differ from the results discussed in forward-looking statements. Actual results may not be consistent with these forward- looking statements.

Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites hotel and a strip mall all located in Grande Prairie. The Company also holds a 91% ownership position in Deerfoot Inn & Casino Inc. in Calgary.

These unaudited interim financial results include the accounts of Gamehost Inc. and its subsidiaries; however, they do not include all disclosures normally provided in annual consolidated financial statements and should be read in conjunction with the 2011 annual consolidated financial statements. Further, while the financial figures included in this preliminary interim results announcement have been computed in accordance with IFRS applicable to interim periods, this announcement does not contain sufficient information to constitute an interim financial report as that term is defined in International Accounting Standard ("IAS") 34, "Interim Financial Reporting". The company has published and filed an interim financial report that complies with IAS 34 for the interim period ended September 30, 2012. This report, along with historical financial reports can be found on the Company's website at www.gamehost.ca and will be filed in its entirety along with the Company's other continuous disclosure documents, when they are available, on SEDAR at www.sedar.com.

Gamehost common shares and convertible debentures trade on the Toronto Stock Exchange (TSX) under the symbols GH and GH.DB respectively.

Contacts:
Gamehost Inc.
Craig M. Thomas
(877) 703-4545
(403) 340-0683 (FAX)

Gamehost Inc.
Darcy J. Will
(877) 703-4545
(403) 340-0683 (FAX)
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
An increasing number of companies are creating products that combine data with analytical capabilities. Running interactive queries on Big Data requires complex architectures to store and query data effectively, typically involving data streams, an choosing efficient file format/database and multiple independent systems that are tied together through custom-engineered pipelines. In his session at @BigDataExpo at @ThingsExpo, Tomer Levi, a senior software engineer at Intel’s Advanced Analytics gr...