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Run of River Power Reports Second Quarter Results

^{Published on 2010-08-26 15:30:42 - Market Wire}
 

 - On May 6, 2010, BC Hydro and ROR Power signed an Electricity Purchase Agreement ("EPA") for the 25 MW Mamquam Power Project. - On July 15, 2010, the Company registered the 34 MW Tsilhqot'in Power Project and the 34 MW Suskwa Power Project in BC Hydro's Bioenergy Phase 2 Call. ROR Power is currently preparing project proposals and intends to submit them prior to the October 28, 2010, deadline. Selection of preferred proponents by BC Hydro is currently scheduled for mid-January 2011, with final approvals and EPA signings expected in April 2011. - Repairs to the generator at the Company's Brandywine facility were completed in early May. The facility has been fully operational since that time. Financial Summary ------------------------------------------------------------------------- ($ in thousands, except Three Months Ended Six Months Ended per share amounts) June 30 June 30 --------------------------------------- 2010 2009 2010 2009 ------------------------------------------------------------------------- Electricity sales 593 577 772 662 EBITDA(1) (367) (7) (761) (403) Net loss (733) (317) (1,423) (1,063) Basic and diluted loss per share (0.01) (0.00) (0.02) (0.02) Cash flow used in operations (739) (328) (747) (810) Total assets 32,243 31,176 32,243 31,176 Generation (MWh) 10,121 9,918 13,189 11,389 ------------------------------------------------------------------------- (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.