Arctic Glacier Income Fund announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2009. Sales in the third quarter totaled $100.8 million, a decrease of $9.0 million or 8% compared to $110 million for the same period in 2008. EBITDA during the third quarter decreased by $4.2 million, or 10%, to $38.4 million. Adjusted earnings for the third quarter totaled $15.2 million, compared to $18.3 million in the same quarter of 2008, that was equivalent to $0.39 (basic) and $0.37 (diluted) per unit, compared to $0.47 (basic) and $0.44 (diluted) last year. Including costs of the antitrust investigations and related expenses, three-month net income was $8.3 million or $0.21 (basic and diluted), compared to a loss of $6.5 million or $0.17 per unit (basic and diluted) in the same quarter of 2008. Earnings before income taxes for the quarter was $17.815 million against loss of $5.618 million for the same quarter last year. Comprehensive income for the three months period was $2.796 million against loss of $3.619 million for the same quarter last year. Cash from operating activities for the quarter was $31.613 against $36.583 million for the same quarter last year. Additions to property, plant and equipment for the quarter was $2.4 against $3.1 million for the same quarter last year. Nine-month sales decreased by 8% from $210.8 million for the same period in 2008 to $194.3 million. Nine-month EBITDA decreased by $3.8 million or 6% to $55.6 million. As at September 30, 2009, the fund's net debt, excluding convertible debentures, was $161.3 million, down from $176.6 million at the same time last year. Adjusted earnings for the nine months totaled $10.2 million, compared to $15.5 million in the same period of 2008, that was equivalent to $0.26 diluted per unit, compared to $0.40 last year. Including costs of the antitrust investigations and related expenses, nine-month net income was $1.7 million or $0.04 (basic and diluted), compared to a loss of $11.1 million or $0.28 per unit (basic and diluted) in the same period of 2008. Earnings before income taxes for the nine months of 2009 was $7.6 million against loss of $18.22 million for the same period last year. Comprehensive income for the nine months period was $7.1 million against loss of $6.4 million for the same period last year. Cash from operating activities for the quarter was $37.13 against $42.3 million for the same period last year. Additions to property, plant and equipment for the nine months of 2009 was $8.63 against $12.45 million for the same period last year.

Arctic Glacier Income Fund expected to Report Fiscal Year 2009 Results on March 15, 2010. This event was calculated by Capital IQ (Created on November 6, 2009).

Arctic Glacier Income Fund, Q3 2009 Earnings Call, Nov-06 2009