From February 26th NR
Fourth Quarter Financial Results Chesswood's audited results for the 2014 year-end will be issued later in March and the Company expects to report fourth quarter Adjusted EBITDA of $5.0 million, compared to $5.2 million in the same period of the prior year. Non-recurring items during the quarter include the Company's write-off of the remaining $607,000 in unamortized bank fees under Pawnee's revolving line of credit, which was retired in December and replaced by Chesswood's new U.S.$150 million revolving line of credit. The Company expects to report net income for the fourth quarter of $1.9 million, which would represent approximately 11% growth over the prior year fourth quarter net income of $1.7 million. These figures are all based upon management's unaudited financial statements, pending completion of Chesswood's year-end audit. Chesswood is providing these preliminary results in light of the circumstances of the proposed acquisition and potential financing, and does not intend to continue to provide preliminary results for future periods. Read more at https://www.stockhouse.com/news/press-releases/2015/02/26/chesswood-announces-agreement-for-transformative-acquisition-of-blue-chip#zJRiLrlzisHc3lr4.99