Orient-Express Hotels Announces Third Quarter Results
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Orient-Express Hotels Announces Third Quarter Results
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Category: Worldwide -
This is a press release selected by our editorial committee and published online for free on 2007-11-08
Ebitda $59.2 Million, Up 20% Over Prior Year
Pre-Tax Earnings $34.8 Million, Up 36% Over 2006
Net Earnings of $22.6 Million
Adjusted Net Earnings of $25.3 Million
Reconciliation and Adjustments
$'000 - except per share Three months ended Nine months
amounts September 30 ended
September 30
2007 2006 2007 2006
EBITDA 59,154 49,492 123,151 105,742
Adjustment - gain on
investment sale - - - (6,619)
Adjustment -
insurance related
gain (2,312) - (2,312) -
Adjustment - management
restructuring and
related charges 1,979 - 2,851 -
Adjusted EBITDA 58,821 49,492 123,690 99,123
U.S. GAAP reported net
earnings 22,553 20,430 38,575 33,110
Adjusted items - net of tax:
- Gain on asset sale - - - (3,294)
- Foreign exchange loss 2,171 1,952 1,413 3,642
- Insurance related gain (1,664) - (1,664) -
- FIN 48 charge 247 - 954 -
- Management restructuring and
related charges 1,979 - 2,851 -
- Write-off of deferred
finance costs - 1,618 - 1,618
Adjusted net earnings 25,286 24,000 42,129 35,076
Adjusted EPS 0.60 0.58 0.99 0.87
Reported EPS 0.53 0.49 0.91 0.82
Number of shares (millions) 42.4 41.7 42.4 40.2
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