Welcome!

Microsoft Cloud Authors: Lori MacVittie, Elizabeth White, Yeshim Deniz, Serafima Al, Janakiram MSV

News Feed Item

The Becker Milk Company Limited: Six Month Financial Results

TORONTO, ONTARIO -- (Marketwire) -- 12/14/12 -- The Becker Milk Company Limited (the "Company") (TSX:BEK.B) is pleased to report the results for the six months ending October 31, 2012.

HIGHLIGHTS

--  Total revenues for the six months ended October 31, 2012 were $2,043,180
    compared to $1,988,053 for the same period in 2011; 
--  Net operating income for the year-to-date period was $1,766,732 compared
    to $1,655,849 in 2011; 
--  Adjusted funds from operations were $0.58 per share, compared to $0.43
    per share in 2011. 

                                                                            
FINANCIAL HIGHLIGHTS                                                        
                                                                            
----------------------------------------------------------------------------
                                                     Six months ended       
                                                          Oct 31            
                                                        2012           2011 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Property revenue                                 $ 2,007,795    $ 1,956,424 
Finance income                                        35,385         31,629 
----------------------------------------------------------------------------
Total revenues                                   $ 2,043,180    $ 1,988,053 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Property revenue                                 $ 2,007,795    $ 1,956,424 
Property operating expenses                         (241,062)      (300,573)
----------------------------------------------------------------------------
Net operating income                             $ 1,766,733    $ 1,655,851 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Adjusted funds from operations                   $ 1,056,537    $   780,463 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net income attributable to common and special                               
 shareholders                                    $       339    $   492,708 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Average common and special shares outstanding      1,808,360      1,808,360 
                                                                            
Income per share                                 $      0.00    $      0.27 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Significant components of the $492,369 decrease in net income between the six months ended October 31, 2012 compared to the six months ended October 31, 2011 are:

Changes in net income - six months ended October 31, 2012                   
 compared to six months ended October 31, 2011                              
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Change in fair value of investment properties                     ($504,657)
Change in deferred taxes on investment properties                  (243,446)
Net operating income                                                110,882 
Administrative expenses                                              49,403 
Provision for current income taxes                                   91,692 
Other items                                                           3,757 
                                                            ----------------
                                                                            
Change in net income                                              ($492,369)
                                                            ----------------
                                                            ----------------

NET OPERATING INCOME

Net operating income for the six months ended October 31, 2012, increased by $110,883 to $1,766,732 compared to $1,655,849 in 2011. The increase resulted from both increased rental revenues and reduced property operating expenses.

ADJUSTED FUNDS FROM OPERATIONS                                              
                                                                            
                                                      Six months ended      
                                                         October 31         
                                                         2012          2011 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Net income attributable to common and special                               
 shareholders                                     $       339   $   492,708 
Items not affecting cash:                                                   
  Fair value losses on investment properties          850,430       345,773 
  Deferred income taxes                               237,697        (5,749)
  Straight line rent                                  (31,929)      (19,379)
  Sustaining capital expenditures                                   (32,890)
----------------------------------------------------------------------------
Adjusted funds from operations                    $ 1,056,537   $   780,463 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Adjusted funds from operations per share          $      0.58   $      0.43 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

For the six months ended October 31, 2012 the Company recorded Adjusted funds from operations of $1,056,537 ($0.58 per share) compared to $780,463 ($0.43 per share) in 2011. This increase is largely the result of higher operating income combined with reduced sustaining capital expenditures.

The Company's interim unaudited financial statements for the six months ended October 31, 2012, along with the Management's Discussion and Analysis will be filed with SEDAR at www.sedar.com.

Readers are cautioned that although the terms "Net Operating Income", and "Funds From Operations" are commonly used to measure, compare and explain the operating and financial performance of Canadian real estate companies and such terms are defined in the Management's Discussion and Analysis, such terms are not recognized terms under Canadian generally accepted accounting principles. Such terms do not necessarily have a standardized meaning and may not be comparable to similarly titled measures presented by the other publicly traded entities.

Contacts:
For the Board of Directors
G.W.J. Pottow
President
416-698-2591

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
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo at the Javits Center in New York City, NY.
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 ...
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
In his session at Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to maximize project result...
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 ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.