BRITISH COLUMBIA

Canlan posts Q3 loss of $1.2M; rink operator's revenue up 3% at $15.2M

11/14/2012 01:08 EST | Updated 01/14/2013 05:12 EST
VANCOUVER - Rink operator Canlan Ice Sports Corp. (TSX:ICE) has reported a net loss of $1.2 million in the third quarter despite an increase in revenue.

The compared with a profit of $117,000 in the same period a year ago when the company recorded a gain of $2.3 million on the sale of assets.

Revenue in the three months ended Sept. 30 improved 2.9 per cent to $15.2 million from $14.8 million.

Canlan, which derives its revenue from playing surface rentals, registrations for internal programming, food and beverage sales, sports stores sales and the like, said same-store revenue improved 6.1 per cent to $14.9 million.

Canlan is the largest private sector owner and operator of recreational ice sports facilities in North America. It current owns or manage 21 facilities in Canada and the United States with 60 ice surfaces, as well as indoor soccer fields, ball diamonds, curling rinks and volleyball courts.

On the Toronto Stock Exchange, its shares were unchanged at midday Friday at $2.49.