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Century Casinos, Inc. Announces Second Quarter 2012 Results (with document) - Seite 4
| Interest expense |(395) |(197) |(543) |(443) |
| Gains on foreign | | | | |
|currency transactions | | | | |
|and other |22 |114 |17 |189 |
|Non-operating (expense)| | | | |
|income, net |(350) |(78) |(497) |(247) |
|Earnings before income | | | | |
|taxes |1,345 |899 |2,770 |1,486 |
|Income tax provision | | | | |
|(benefit) |197 |255 |489 |478 |
|Net earnings |$1,148 |$644 |$2,281 |$1,008 |
| | | | | |
|Earnings per share: | | | | |
| Basic |$0.05 |$0.03 |$0.10 |$0.04 |
| Diluted |$0.05 |$0.03 |$0.09 |$0.04 |
| | | | | |
| | | | | |
CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION - US GAAP BASIS
|Century Casinos, Inc. |
|Condensed Consolidated Balance Sheets |
|(Amounts in thousands) |
| |June 30, |December 31, |
| |2012 |2011 |
|Assets | | |
|Current Assets |$21,956 |$27,286 |
|Property and equipment, net |98,748 |99,605 |
|Other Assets |10,680 |9,836 |
|Total Assets |$131,384 |$136,727 |
| | | |
|Liabilities and Shareholders' Equity | | |
|Current Liabilities |$10,381 |$21,359 |
|Non-Current Liabilities |6,234 |2,828 |
|Shareholders' Equity |114,769 |112,540 |
|Total Liabilities and Shareholders' Equity |$131,384 |$136,727 |
CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
The following tables show Adjusted EBITDA margins and Adjusted EBITDA to net
earnings reconciliations by property or category. The Company defines Adjusted
EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management
uses this margin as one of several measures to evaluate the efficiency of the
Company's casino operations. A discussion of Adjusted EBITDA follows the
tables.
Century Casinos, Inc.
Adjusted EBITDA Margins by Property or Category
| |For the Three |For the Six |
| |Months |Months |
| |Ended June 30, |Ended June 30, |
| |2012 |2011 |2012 |2011 |
|Century Casino & Hotel, Edmonton |33% |35% |32% |34% |
|Century Casino, Calgary |1% |5% |6% |4% |
|Century Casino & Hotel, Central City |22% |21% |22% |21% |
|Century Casino & Hotel, Cripple Creek|23% |21% |21% |20% |
|Cruise Ships & Other |13% |19% |14% |17% |
|Consolidated Adjusted EBITDA Margin |16% |15% |16% |15% |
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or
Category
For the three months ended June 30, 2012
Amounts in thousands
| |Three Months Ended June 30, 2012 |
| |Edmonton|Calgary|Central|Cripple|Cruise|Corporate|Total|
| | | |City |Creek |Ships | | |
| | | | | |&Other| | |
|Net earnings (loss) |1,075 |(92) |396 |300 |93 |(624) |1,148|
| | | | | | | | |
|Interest income |(5) |0 |0 |0 |0 |(18) |(23) |
|Interest expense |394 |0 |0 |0 |0 |1 |395 |
|Income taxes | | | | | | | |
|(benefit) |280 |(75) |243 |183 |11 |(444) |197 |
|Depreciation |244 |209 |347 |253 |98 |29 |1,180|
CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION - US GAAP BASIS
|Century Casinos, Inc. |
|Condensed Consolidated Balance Sheets |
|(Amounts in thousands) |
| |June 30, |December 31, |
| |2012 |2011 |
|Assets | | |
|Current Assets |$21,956 |$27,286 |
|Property and equipment, net |98,748 |99,605 |
|Other Assets |10,680 |9,836 |
|Total Assets |$131,384 |$136,727 |
| | | |
|Liabilities and Shareholders' Equity | | |
|Current Liabilities |$10,381 |$21,359 |
|Non-Current Liabilities |6,234 |2,828 |
|Shareholders' Equity |114,769 |112,540 |
|Total Liabilities and Shareholders' Equity |$131,384 |$136,727 |
CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
The following tables show Adjusted EBITDA margins and Adjusted EBITDA to net
earnings reconciliations by property or category. The Company defines Adjusted
EBITDA margin as Adjusted EBITDA divided by net operating revenue. Management
uses this margin as one of several measures to evaluate the efficiency of the
Company's casino operations. A discussion of Adjusted EBITDA follows the
tables.
Century Casinos, Inc.
Adjusted EBITDA Margins by Property or Category
| |For the Three |For the Six |
| |Months |Months |
| |Ended June 30, |Ended June 30, |
| |2012 |2011 |2012 |2011 |
|Century Casino & Hotel, Edmonton |33% |35% |32% |34% |
|Century Casino, Calgary |1% |5% |6% |4% |
|Century Casino & Hotel, Central City |22% |21% |22% |21% |
|Century Casino & Hotel, Cripple Creek|23% |21% |21% |20% |
|Cruise Ships & Other |13% |19% |14% |17% |
|Consolidated Adjusted EBITDA Margin |16% |15% |16% |15% |
Reconciliation of Adjusted EBITDA * to Net Earnings (Loss) by Property or
Category
For the three months ended June 30, 2012
Amounts in thousands
| |Three Months Ended June 30, 2012 |
| |Edmonton|Calgary|Central|Cripple|Cruise|Corporate|Total|
| | | |City |Creek |Ships | | |
| | | | | |&Other| | |
|Net earnings (loss) |1,075 |(92) |396 |300 |93 |(624) |1,148|
| | | | | | | | |
|Interest income |(5) |0 |0 |0 |0 |(18) |(23) |
|Interest expense |394 |0 |0 |0 |0 |1 |395 |
|Income taxes | | | | | | | |
|(benefit) |280 |(75) |243 |183 |11 |(444) |197 |
|Depreciation |244 |209 |347 |253 |98 |29 |1,180|
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