Cash Store Financial releases Third Quarter results; declares … - Canada NewsWire (press release)- Topic: Cash Before Payday
Reykdal further added, “The Company maintains strong cash and working capital positions and is fully able to initiate expansion initiatives as market conditions and opportunities arise, inclusive of dividends paid. Rental Division Spin-off On November 28, 2007, the Company’s shareholders approved a plan to spin-off the Company’s rental operations and certain of its assets and liabilities to Insta-Rent Inc. Class Action Lawsuit On April 21, 2008, the Company reached a conditional settlement in respect of a class action law suit initiated in the province of Ontario. The settlement is conditional upon the lawsuit being certified by the Court as a class proceeding under the Class Proceedings Act and as part of that process, the terms of settlement being approved by the court. The Company believes that EBITA is a useful supplemental measure to income (loss), as it provides investors with an indication of cash earnings prior to debt service, capital expenditures, income taxes and certain non-cash items. Investors should be cautioned, however, that EBITA should not be construed as an alternative to net income (loss) determined in accordance with GAAP as an indicator of the Company’s performance or to cash flows from operating, investing and financing activities as a measure of liquidity and cash flows. Learn more
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