Horizon North Logistics Inc. (HNL) 2008年年度报告「TSX」.pdf

1、 ANNUAL REPORT 2008 TABLE OF CONTENTS Page Information on Annual General Meeting ifc Managements Discussion and Analysis 1 Managements Report to the Shareholders 20 Auditors Report to the Shareholders 21 Consolidated Financial Statements 22 Notes to the Consolidated Financial Statements 25 Corporate

2、 Information obc INFORMATION ON ANNUAL GENERAL MEETING The Annual General Meeting of the Shareholders of Horizon North Logistics Inc.will be held on Wednesday,May 6,2009 at 3:00 p.m.(local time)in the Royal Room,Metropolitan Conference Centre,333-4th Avenue SW.,Calgary,Alberta.Shareholders are encou

3、raged to attend and those unable to do so are requested to complete and submit the Instrument of Proxy at their earliest convenience.1MANAGEMENTS DISCUSSION AND ANALYSIS(“MD&A”)YEAR ENDED DECEMBER 31,2008 This Managements Discussion and Analysis,prepared as at February 25,2009,focuses on key statist

4、ics from the Consolidated Financial Statements and pertains to known risks and uncertainties relating to the business carried on by Horizon North Logistics Inc.(the“Corporation”or“Horizon”).This discussion should not be considered all-inclusive,as it excludes changes that may occur in general econom

5、ic,political and environmental conditions.Highlights(000s except per share amounts)Year ended December 31,2008 Year ended December 31,2007 Six months ended December 31,2006 Revenue$180,779$95,846$23,120 EBITDAS(1)45,143 23,054 4,014 Operating earnings (1)20,086 7,764 203 Earnings before goodwill imp

6、airment loss(net of associated$4,373,000 tax recovery)(2)12,588 6,080 526 Earnings before goodwill impairment loss per share-diluted$0.11$0.07$0.01 Goodwill impairment loss(net of associated$4,373,000 tax recovery)110,537-Goodwill impairment loss per share-diluted$(1.00)$-$-Net(loss)earnings (97,949