This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CIBT Reports Fiscal Year 2012 Financial Results

The heading for the column on the far right in the financial table should read: Year Ended August 31, 2011 (sted Year Ended August 31, 2012).

The corrected release reads:


CIBT Education Group Inc. (NYSE MKT: MBA and TSX: MBA)(“CIBT Group” or the “Company”) is pleased to report its audited consolidated operating results for the year ended August 31, 2012. Highlights of the fiscal results are as follows:
  • For the twelve months ended August 31, 2012 (“Fiscal 2012”), CIBT Group’s gross revenues totaled $58.0 million as compared to $58.6 million for the twelve months ended August 31, 2011 (“Fiscal 2011”), a decrease of $606,000 or 1%.
  • Net income was a loss of $0.8 million in Fiscal 2012 compared to a loss of $9.5 million in Fiscal 2011, a significant turn-around of $8.6 million, tied to management’s focus of streamlining operations and to impairment charges in fiscal 2011.
  • Non-IFRS EBITDA (Earnings Before Interest Tax, Depreciation and Amortization) income in Fiscal 2012 increased by $9.5 million year-over-year to $1.0 million from ($8.5) million in Fiscal 2011.
  • Non-IFRS Adjusted Net Income (EBITDA excluding Share-based Compensation) increased by $9.6 million year-over-year to $1.2 million from ($8.4) million in Fiscal 2011. The EBITDA and Adjusted Net Income above added back non-cash expenses that have no material impact on the Company’s operating cash flow.

Adjusted EBITDA and Adjusted Net Income are non-IFRS measures which allow management to isolate financial statement items that contribute to the operating performance and cash flow activities and can be reconciled to the consolidated financial statements as follows:
    Year Ended

August 31, 2012

Year Ended

August 31, 2011
Net income (loss) $ (813,888) $ (9,462,921)
Add: interest on long-term debt 144,899 153,656
Add: income tax (recovery) provision – non cash 118,446 (843,505)
Add: depreciation and amortization – non cash 1,581,460 1,657,575
EBITDA (NON-IFRS) 1,030,917 (8,495,195)
Add: Share based compensation – non cash 178,564 59,896
Adjusted Net Income (NON-IFRS) $ 1,209,481 $ (8,436,299)

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs