12°c Overcast
11°c Cloudy with clear breaks
Winnipeg Free Press - ONLINE EDITION
Exchange Income Corp sees surge in revenues
Mike Pyle, President & CEO of Exchange Income Corporation (JOHN WOODS / POSTMEDIA NEWS ARCHIVES)
Acquisitions and strong growth in the manufacturing sector drove revenue at Exchange Income Corp. up 87 per cent to $147 million in the first quarter of 2012.
The Winnipeg-based diversified, acquisition-oriented company also generated increased EBITDA of $14.4 million up 15 per cent from the year before.
The revenue growth was primarily due to the acquisition of WesTower which was completed in April of 2011. Revenue growth was also due to the strong performance of its pre-existing manufacturing segment companies, particularly Stainless Fabrication.
But the company recorded profits of less than half as much as the previous year’s first quarter — $0.9 million this year compared to $2 million in the first quarter of 2011.
The decline was attributable to a number of factors, including equipment leasing charges expensed by Calm Air for aircraft needed to service customer contracts, higher fuel charges that were not offset by corresponding customer surcharges, increased competition within the eastern Canada markets served by Bearskin, and higher interest charges stemming from previous financing activities.
Exchange Income shares were down 10 cents in midday trading to $25.10.
More Latest News
- Back to Top
- Return to Latest News
More Latest News
(1 of 22 articles for today)
Overnight stabbings probed
8:37 AMWinnipeg police are investigating a pair of early-morning stabbing incidents.
A man in his 20s was taken to hospital with non-life-threatening ...
Poll
Most Popular Latest News
- Woman drove into river on purpose
- Rare comic book featuring debut of Superman found insulating abandoned house in Minnesota
- Systemic approach to voter interference 'extremely worrisome': Trudeau
- Evidence ignored in dangerous driving acquital, appeal court told
- Police searching for suspect who woke sleeping teen
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- City's first urban reserve born
- Driver horrified by scene in rearview mirror after load hits I-5 bridge, road falls into river
- Doctor charged with sexually assaulting teen at HSC
- 'I do not use crack cocaine': Ford ends week of silence on crack video scandal
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- 87-year-old woman tells jurors, 'Somebody had to stand up to' Donald Trump
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- Crash claims two young women, RCMP say
- 2 dead in crash near Portage la Prairie
- Grocer Joe Cantor dies at 88
- Winnipeg woman camps out in front of legislature to protest child welfare
- Rainfall warning issued for southern Manitoba
- Two men now facing first-degree murder charges in Tim Bosma test drive death
- Flood money paid for CEO's romantic trip
- Seattle man dribbling soccer ball to Brazil killed by car on Oregon Coast
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- 87-year-old woman tells jurors, 'Somebody had to stand up to' Donald Trump
- Driver crashes into tree near golf course
- Arrests made after raids on local head shops
- Aboriginal leader Elijah Harper dies
- News of city's $17-million winner leaks out on FB
- Passengers from diverted flight to leave Winnipeg Thursday night
- No threat from bag found at Winnipeg Square
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Catching up with Arrested Development's Bluth family
- Toews 'disappointed' U.S., Canada at loggerheads over meat labeling regulations
- Driver horrified by scene in rearview mirror after load hits I-5 bridge, road falls into river
- Youth faces murder charge in Pauingassi First Nation death
- Charges laid against Sharon Home over resident's death
- Famous city grocer loved job, customers
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- First Nation celebrates groundbreaking on city's first urban reserve
- City's first urban reserve born
- New owner for lumber stores
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- Grocer Joe Cantor dies at 88
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Marsh Madness: Photographers Fred Greenslade and Joe Bryksa capture spring migration's grandeur at Delta Marsh
- Famous city grocer loved job, customers
- Prominent Canadians back petition to rename Victoria Day to honour aboriginals
- First Nation celebrates groundbreaking on city's first urban reserve
- Skin picking gets status as distinct disorder, should help sufferers access help
- Order of Manitoba recipients announced
- New owner for lumber stores
- Aboriginal leader Elijah Harper dies
- Dogs can experience separation anxiety and depression just like humans
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- 'Revenge of the redheads': Ginger-haired Montrealers gather in celebration
- Grocer Joe Cantor dies at 88
- An uncommon phenomenon
- Passengers from diverted flight to leave Winnipeg Thursday night
- Hundreds pitch in to dig out houses damaged, destroyed by Ochre Beach ice floe
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.