407 International Reports Second Quarter Results
TORONTO, July 16, 2009
407 International Inc. announced today revenues of $142.1 million for the second quarter ended June 30, 2009 compared to $140.1 million for the same period of 2008. Earnings before interest, taxes, depreciation and amortization (“EBITDA”1) totalled $115.6 million for the second quarter of 2009 compared with $114.8 million for the same period of 2008. The Company reported a net income of $8.0 million for the second quarter of 2009 compared with a net loss of $8.8 million for the same period of 2008 due to favourable net non-cash adjustments relating to financial instruments.
The Board of Directors declared an eligible dividend of $0.061 per common share payable on or about July 16, 2009, to shareholders of record on July 16, 2009. 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 Inc.
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For more information, contact:
Kenneth A. Walker
Chief Financial Officer