ST. ALBERT, ALBERTA — (Marketwired) — 05/09/13 — Enterprise Group, Inc. (“Enterprise”, or “Company”) (TSX: E) is pleased to announce the Company–s first quarter results for the period ended March 31, 2013, and its seventh consecutive quarter of profitability.
QUARTERLY HIGHLIGHTS
(1) EBITDAS = Earnings Before Interest, Tax, Depreciation, Amortization and Stock Based Compensation
About Enterprise Group, Inc.
Enterprise Group, Inc. is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries. The Company–s focus is primarily utility & infrastructure construction and specialized equipment rental. The Company–s strategy is to acquire complementary service companies in Western Canada, consolidating capital, management and human resources to support continued growth. Enterprise became a Western Canadian leader in flameless heat technology in September 2012 with its acquisition of Artic Therm International Ltd. and is poised to become a technological leader in underground infrastructure construction upon closing of its pending infrastructure construction acquisition.
Forward Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company–s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company–s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, statements with respect to the completion of the proposed acquisition, the terms and conditions of the transaction, the completion of an asset-based debt financing and financial information relating to the private company include forward-looking information. The proposed acquisition may not be completed on the terms and conditions contemplated herein or at all. The Company–s Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website ) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
Non-IFRS Measures
The Company uses International Financial Reporting Standards (“IFRS”). EBITDA is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS measure. This news release contains references to EBITDA. This non-IFRSmeasure used by the Company may not be comparable to a similar measure used by other companies. Management believes that in addition to net income, EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Company–s principal business activities prior to consideration of how those activities are financed or how the results are taxed. EBITDA is calculated as net income excluding depreciation, amortization, interest and taxes.
Contacts:
First Canadian Capital Corp.
Daniel Boase
416-742-5600
145 Front Street East
Toronto, ON. M5A 1E3
Enterprise Group, Inc.
Leonard D. Jaroszuk
President & CEO
780-418-4400
Enterprise Group, Inc.
Desmond O–Kell
Vice President
780-418-4400