407 International Reports First Quarter Results
TORONTO, April 17, 2008
407 International Inc. announced today revenues of $120.1 million for the first quarter ended March 31, 2008, compared to $107.1 million for the same period of 2007. Earnings before interest, taxes, depreciation and amortization (“EBITDA” ) totalled $92.5 million for the first quarter of 2008 compared with $80.6 million for the same period of 2007. The company reported a net loss of $11.9 million for the first quarter of 2008; $3.1 million higher than the net loss of $8.8 million for the same period of 2007.
The Board of Directors declared an eligible dividend of $0.044 per common share payable on or about April 17, 2008, to shareholders of record on April 17, 2008.
407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc. is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.
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For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Vice President, Communications and Government Relations