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Medical Facilities Corporation Reports 2009 Third Quarter Financial Results

^{Published on 2009-11-12 04:07:21 - Market Wire}
 

 Q3 2009 Highlights ------------------ - Facility service revenue increased 1.3% to $49.0 million from $48.4 million in Q3 2008 - Cash available for distribution(1) after realized gains or losses on foreign currency hedges totalled Cdn$8.5 million (Cdn$9.3 million in Q3 2008) and declared distributions totalled Cdn$7.8 million (Cdn$8.0 million in Q3 2008), representing a payout ratio of 91.7% for the quarter (86.2% in Q3 2008) - 89.9% payout ratio based on cash available for distribution(1) from operations before realized losses on foreign currency hedges (90.2% in Q3 2008) - Completed $1.5 million expansion project at Dakota Plains Surgical Center ("DPSC"), which increased overnight stay rooms from eight to 15 - Converted existing space into two additional overnight stay rooms at Oklahoma Spine Hospital ("OSH") 

 Financial Results ----------------- 

 Normal Course Issuer Bid ------------------------ 

 Intangibles and Goodwill Impairment ----------------------------------- 

 Notice of Conference Call and Webcast ------------------------------------- 

 About Medical Facilities ------------------------ 

 Caution concerning forward-looking statements --------------------------------------------- 

 ------------------------------------ (1) Cash available for distribution is a non-GAAP measure and is not intended to be representative of cash flow or results of operations determined in accordance with GAAP. Accordingly, Medical Facilities provides a reconciliation of cash available for distributions to reported cash flow from operations in the Corporation's MD&A. Investors are cautioned that cash available for distribution, as calculated by Medical Facilities, is unlikely to be comparable to similar measures used by other issuers.