Carney said any such operation would only be done in closecoordination with the Canadian government. The Oxford and Harvard-trained economist and former GoldmanSachs banker warned that the Canadian economy will still faceshocks and setbacks. "We continue to expect, even though we see growth towardsthe end of the year and into 2010, that the employmentsituation will deteriorate further before it improves," hesaid. Carney said he was encouraged by improving conditions incapital and interbank lending markets, which froze up with theonset of the global financial crisis. "Canadian bank funding costs have really started to fallquite sharply," he said.
Carney said the progress of other countries in fixing theirbanking systems would be critical to the outlook for theCanadian economy.(With additional reporting by Randall Palmer, DavidLjunggren, Ka Yan Ng and Frank Pingue; editing by JeffreyJones) Bonds. KANASAS CITY, Mo.--(Business Wire)--Entertainment Properties Trust (NYSE: EPR): CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING STATEMENTSWith the exception of historical information, certain information contained orincorporated by reference herein constitutes forward-looking statements as suchterm is defined in Section 27A of the Securities Act of 1933, as amended (the"Securities Act"), and Section21E of the Securities Exchange Act of 1934, asamended (the "Exchange Act"). The forward-looking statements may refer to ourfinancial condition, results of operations, plans, objectives, acquisition ordisposition of properties, future expenditures for development projects, capitalresources, future financial performance and business Forward-looking statementsare not guarantees of performance They involve numerous risks, uncertaintiesand assumptions. Our future results, financial condition and business may differmaterially from those expressed in these forward-looking statements In addition,references to our budgeted amounts are forward looking statements.
Theseforward-looking statements represent our intentions, plans, expectations andbeliefs and are subject to numerous assumptions, risks and uncertainties. Manyof the factors that will determine these items are beyond our ability to controlor predict. For further discussion of these factors see "Risk Factors" in ourmost recent annual report on Form 10-K and, to the extent applicable, in ourquarterly reports on Form 10-Q.For these statements, we claim the protection of the safe harbor forforward-looking statements contained in the Private Securities Litigation ReformAct of 1995. You are cautioned not to place undue reliance on ourforward-looking statements, which speak only as of the date indicated herein orthe date of any document incorporated by reference herein.
All subsequentwritten and oral forward-looking statements attributable to us or any personacting on our behalf are expressly qualified in their entirety by the cautionarystatements contained or referred to in this section. We do not undertake anyobligation to release publicly any revisions to our forward-looking statementsto reflect events or circumstances after the date hereof.USE OF EBITDA AS A NON-GAAP FINANCIAL MEASUREEBITDA is a widely used financial measure in many industries, including the REITindustry, and is presented to assist investors and analysts in analyzing theperformance of the Company. It is helpful as it excludes various items includedin net income that are not indicative of operating performance, such as gains(or losses) from sales of property and depreciation and amortization and is usedin computing various financial ratios as a measure of operational performance.The Company computes EBITDA as the sum of net income plus interest expense(net), depreciation and amortization, gain or loss on sale of real estate,noncontrolling interests, equity in income from joint ventures and discontinuedoperations. The Company`s method of calculating EBITDA may be different frommethods used by other REITs and, accordingly, may not be comparable to suchother REITs.
EBITDA does not represent cash generated from operations as definedby GAAP and is not indicative of cash available to fund all cash needs,including distributions. It should not be considered as an alternative to netincome for the purpose of evaluating the Company`s performance or to cash flowsas a measure of liquidity. The $113.5 millionrelated to White Plains is extendable for two to four years based on meetingcertain conditions including a minimum net operating income threshold. Amount isshown in the "Amount With Extensions" column as if this note was extended fortwo years. (2) In addition to recurring principal payments, this amount includes $115.2million of maturing debt secured by one theatre and one ski resort as well asfive mortgage notes receivable. This debt is extendable at the Company`s optionuntil October 26, 2012.
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