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Run of River Power Reports Results For Third Quarter 2009

^{Published on 2009-11-27 16:34:50 - Market Wire}
 

 Highlights - BC Hydro said November 17, 2009 that it will begin discussions with the developers of 13 proposed hydroelectric and wind power projects that it has identified as the most cost-effective and will begin awarding contracts in December 2009. Additionally, it will offer developers of the other 34 projects the opportunity to make their proposals more cost-effective. - BC Hydro notified the Company that its 25 MW Mamquam proposal will proceed to the next stage of the 2008 Clean Power Call. - The Company continues to make progress on its 34 MW Suskwa and 60 MW Tsilhqot'in biomass development projects and intends to submit them to BC Hydro's Phase II Biomass Call, expected in 2010. Financial Summary ------------------------------------------------------------------------- ($ in thousands, except Three Months Ended Nine Months Ended per share amounts) September 30 September 30 ----------------------------------------- 2009 2008 2009 2008 ------------------------------------------------------------------------- Electricity sales 434 664 1,097 1,250 EBITDA(1) (73) 58 (476) (627) Net loss (418) (278) (1,481) (1,510) Basic and diluted loss per share (0.01) (0.00) (0.02) (0.02) Cash flow used in operations (224) (60) (908) (795) Total assets 31,485 32,422 31,485 32,422 Generation (MWh) 7,464 11,484 18,853 21,615 ------------------------------------------------------------------------- (1) EBITDA is earnings before interest, taxes, depreciation and amortization and is not a measure under Canadian Generally Accepted Accounting Principles ("GAAP") and may not be comparable to similar measures presented by other companies. Refer to Non-GAAP measures section of the MD&A for an explanation and reconciliation.