TWC Enterprises Limited Announces First Quarter 2022 Results and Eligible Cash Dividend – QNT Press Release


KING CITY, Ontario, May 02, 2022 (GLOBE NEWSWIRE) —

Consolidated Financial Highlights (unaudited)

(in thousands of dollars except per share
amounts)
Three months ended
March 31,
2022
March 31,
2021
Net earnings (loss) (1,093) 455
Basic and diluted earnings (loss) per share (0.04) 0.02

Operating Data

Three months ended
March 31,
2022
March 31,
2021
Canadian Full Privilege Golf Members 15,302 14,814
Championship rounds – Canada
18-hole equivalent championship golf courses – Canada 37.5 39.5
18-hole equivalent managed championship golf courses – Canada 2.0 1.0
Championship rounds – US 112,000 93,000
18-hole equivalent championship golf courses – US 8.0 8.0

The following is an analysis of net earnings (loss):

For the three months ended
(thousands of Canadian dollars) March 31, 2022
March 31, 2021
Operating revenue $ 37,932 $ 14,109
Direct operating expenses (1) 32,954 16,366
Net operating income (loss) (1) 4,978 (2,257 )
Amortization of membership fees 939 958
Depreciation and amortization (4,424 ) (4,755 )
Interest, net and investment income 276 (436 )
Other items (2,570 )

Full story available on Benzinga.com



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