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Press release from Marketwire

Correction to News Release: Amica Mature Lifestyles Announces Third Quarter Results for Fiscal 2011 and Announces Fourth Quarter Dividend

Wednesday, April 13, 2011

Correction to News Release: Amica Mature Lifestyles Announces Third Quarter Results for Fiscal 2011 and Announces Fourth Quarter Dividend16:22 EDT Wednesday, April 13, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2011) - Amica Mature Lifestyles Inc. (TSX:ACC) release issued at 5:30 am Pacific Time on April 13, 2011 titled "Amica Mature Lifestyles Announces Third Quarter Results For Fiscal 2011 and Announces Fourth Quarter Dividend" was disseminated with an error. The correction is as follows:Under the Financial Highlights summary for the nine month period ended February 28, 2011, compared to the nine month period ended February 28, 2010, basic and diluted Cash Flow From Operations ("CFFO")(1) per share decreased by $0.01 to $0.26 (the original news release incorrectly indicated that basic and diluted CFFO per share was unchanged).(1)Cash Flow From Operations ("CFFO") is a Non-GAAP Measure. This Non-GAAP Measure is not recognized under Canadian GAAP and does not have a standardized meaning prescribed by Canadian GAAP. CFFO is defined as follows:CFFO is a supplemental Non-GAAP Measure of operating performance and is equal to net earnings/loss and comprehensive income/loss adjusted for (i) stock-based compensation; (ii) depreciation and amortization; (iii) amortization of deferred financing charges and other; (iv) future income taxes; (v) cash distributions in excess of income/loss from equity-accounted investments; (vi) accretion of discount on mortgages receivable, loans receivable and notes payable; (vii) unrealized interest rate swap and foreign exchange gains/losses; (viii) write-down of deposits/investments; (ix) gain on early repayment of mortgage payable; and (x) gains/losses on fair value adjustment of investments in business combinations. CFFO may not be comparable to similar measures presented by other entities in the same industry. Management considers CFFO to be a useful measure for reviewing the Company's operating and financial performance because, by excluding non-cash expenses and depreciation and amortization which can vary based on estimates of useful lives of real estate assets, CFFO can help to compare the operating performance of the Company between financial reporting periods and with other entities in the same industry. CFFO is equal to cash provided by/used in operations before other changes in non-cash working capital as set out in the Company's Consolidated Statements of Cash Flows. For a reconciliation of net earnings/loss and comprehensive income/loss to CFFO, see Note 1 to the Company's Management's Discussion and Analysis for the three and nine months ended February 28, 2011.FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Art AyresAmica Mature Lifestyles Inc.Chief Financial Officer(604) 630-3473a.ayres@amica.caORMs. Alyssa WilliamsAmica Mature Lifestyles Inc.Manager, Investor Communications(604) 639-2171a.williams@amica.cawww.amica.ca