TWC Enterprises Limited Announces Second Quarter 2022 Results and…

TWC Enterprises Limited Announces Second Quarter 2022 Results and…

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KING CITY, Ont., Aug. 4, 2022 (GLOBE NEWSWIRE) —

Consolidated Financial Figures (Unaudited)

(in thousands of dollars, except per share amounts) Three months passed Six months have passed
June 30th
2022
June 30th
2021
June 30th
2022
June 30th
2021
net earnings 3,594 4,472 2,501 4,927
Basic and diluted earnings per share 0.15 0.18 0.10 0.20

operational data

Three months passed Six months have passed
June 30th
2022
June 30th
2021
June 30th
2022
June 30th
2021
Canadian Full Privilege Golf Members 15,583 15,097
Championship Rounds – Canada 444,000 362,000 444,000 362,000
18 Hole Championship Golf Courses – Canada 37.5 39.5
Equivalent Managed 18 Hole Championship Golf Courses – Canada 2.0 2.0
Championship Rounds – USA 55,000 63,000 167,000 156,000
18 Hole Equivalent Championship Golf Courses – USA 8.0 8.0

The following is an analysis of net income:

For the past three months
(thousands of Canadian dollars) June 30, 2022 June 30, 2021
operating income $ 52,736 $ 34,059
Direct Operating Costs (1) 39,569 25,023
net operating income (1) 13.167 9,036
Amortization of membership fees 1,081 1,037
depreciation and amortization (4,458 ) (4,788 )
Interest, net and investment income 422 (384 )
Other things (3,582 ) (303 )
income tax (3,036 ) (126 )
net earnings $ 3,594 $ 4,472
For the past six months
(thousands of Canadian dollars) June 30, 2022 June 30, 2021
operating income $ 90,668 $ 48,168
Direct Operating Costs (1) 72,523 41,389
net operating income (1) 18,145 6,779
Amortization of membership fees 2,020 1,995
depreciation and amortization (8,882 ) (9,543 )
Interest, net and investment income 698 (820 )
Other things (6.152 ) 5.337
income tax (3.328 ) 1,179
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