Content
Selected Quarterly Financial Information1
2007 |
2006 |
|||||||
|---|---|---|---|---|---|---|---|---|
|
(millions of Canadian dollars, except per unit amounts) |
Q4 |
Q3 |
Q2 |
Q1 |
Q4 |
Q3 |
Q2 |
Q1 |
Revenue |
73.0 |
65.0 |
67.8 |
65.0 |
68.2 |
60.8 |
63.5 |
61.9 |
Earnings |
10.8 |
3.8 |
3.0 |
3.5 |
3.2 |
5.8 |
21.0 |
5.3 |
Earnings Per Unit (basic and diluted) |
0.31 |
0.11 |
0.09 |
0.10 |
0.09 |
0.17 |
0.61 |
0.15 |
Cash Distributions Declared2 |
17.3 |
17.4 |
17.4 |
17.4 |
17.2 |
16.7 |
16.7 |
16.7 |
- Selected Quarterly Financial Information has been extracted from financial statements prepared in accordance with GAAP.
- Cash distributions declared on ordinary & subordinated units and ECT preferred units.
Starting in the fourth quarter of 2006, revenue includes amounts for electricity generated in the Green Power segment, which varies with fluctuations in weather. Typically, revenue peaks in the winter months during the first quarter and, to a lesser extent, in the fourth quarter of the year when wind volumes are higher.
Significant items that have impacted quarterly financial information are as follows:
- Fourth quarter earnings in 2007 reflected future income tax recoveries of $7.6 million due to the substantive enactment of reductions in future tax rates during the quarter.
- Second quarter earnings in 2007 reflected future income tax expense of $1.9 million due to the substantive enactment of the Tax Fairness Plan.
- Second quarter earnings in 2006 reflected future income tax recoveries of $16.7 million due to the substantive enactment of reductions in future tax rates during the quarter.
- The Board of Trustees approved increases in distributions of 1% and 4.5%, on the Fund's ordinary and subordinated units and the ECT preferred units, effective with the distributions payable to holders of record on January 31, 2006 and November 30, 2006, respectively.