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(Reporting by Martinne Geller, editing by Matthew Lewis) Stocks Stocks. consumer is regaining confidence andwith the falling food/energy prices a continued tailwind, wethink real consumer spending is close to bottoming," Grom said. Penney Co Inc (JCP.N) and Big Lots Inc (BIG.N), were alsoseeing strength in the highly discretionary home category "We believe the U.S. The weighted average numberof shares outstanding for the 1st quarter 2009 was 37,424,291.Following the payment of the dividend in respect of 1Q09, the Company hasfor the last four quarters paid dividends in the aggregate of $4.96 pershare, representing a yield of 15.1% per annum based on the average dailyshare price during the past twelve months up to April 1, 2009.Net income for 1Q09 was $17.2m, or $0.46 per share (EPS) compared to netincome of $23.4m, or $0.78 per share for the 1Q08. The Company has no net debt, and at the time of this writing,an undrawn revolving credit facility of $500 million with a term up toSeptember 2013. Our MD&A, AnnualInformation Form and additional information on Ivernia are available onthe Company's website at and on Ivernia's SEDAR profileat All of the forward-looking statements made in thisdocument are based on our current estimates, expectations andprojections, which we believe are reasonable as of the current date. Other risks and factors that could cause actual results todiffer are described in Management's Discussion and Analysis ("MD&A") forthe most recently completed year end under the heading "Risks andUncertainties", and in the Company's most recently filed AnnualInformation Form under the heading "Risk Factors".
Copies of the Lead Removal Planare available on or IverniaIvernia is an international base metals mining, exploration anddevelopment company. The shed will then be handed back to theEsperance Port Authority for preparation for demolition and disposal.Cleaning, demolition and disposal activities will be conducted understrictly managed conditions.The Lead Removal Plan for Esperance, under which the sealed shipments oflead carbonate concentrate have been carried out, was approved by theState Government on 3rd December 2008. See Appendix F for a discussion of the use of Fixed Asset Additions (Accrual Basis) as a non-GAAP financial measure and the reconciliation of Fixed Asset Additions (Accrual Basis) to GAAP purchase of fixed and intangible assets. (4) Homes marketable on-net represents management's estimate of homes passed by our cable network that are capable of taking our respective products. (3) As a result of the treatment of Sit-up as discontinued operations and the retroactive adjustment of prior periods, On-net revenues and On-net ARPU have increased as we previously eliminated revenues earned from sit-up on consolidation.
For the purpose of calculating On-net ARPU, we have spread the data cleanse evenly over the three months of the quarter in which the data cleanse has been reported. (2) On-net monthly ARPU is calculated on a quarterly basis by dividing total revenue generated from the provision of telephone, television and internet services to customers who are directly connected to our network in that period together with revenue generated from our customers using our virginmedia website, exclusive of VAT, by the average number of customers directly connected to our network in that period divided by three. Words like "believe," "anticipate," "should," "intend,""plan," "will," "expects," "estimates," "projects," "positioned," "strategy,"and similar expressions identify these forward-looking statements, which involveknown and unknown risks, uncertainties and other factors that may cause ouractual results, performance or achievements or industry results to be materiallydifferent from those contemplated, projected, forecasted, estimated or budgeted,whether expressed or implied, by these forward-looking statements. Thelenders under the new A tranches will receive a margin increase of 1.375%, witheffect from the satisfaction of the repayment condition, and the lenders underthe new B tranches have received a margin increase of 1.5%, effective November10, 2008. See Appendix F for reconciliations ofnon-GAAP financial measures to their nearest GAAP equivalents.OPERATING INCOME / LOSSRestructuring and other charges of GBP5.4m were incurred during the quarter(Q4-08: GBP19.8m; Q1-08: GBP4.6m). SG&A was up year-on year mainly due to general cost inflation and GBP2.8mof costs incurred in the quarter in relation to our cost saving program.Cost saving programIn November 2008, we announced important steps to re-engineer our business andcreate a fully-integrated, customer-focused organization, driving furtherimprovements in operational performance and eliminating inefficiencies.During the first quarter, we incurred GBP2.9m in SG&A and operating costs(Q4-08: GBP2.4m; Q1-08: GBPnil) and GBP9.9m in restructuring and other charges(Q4-08: GBP16.0m; Q1-08 GBPnil) in relation to this program. SG&A wasup sequentially mainly due to higher facilities and seasonally higher marketingcosts.
customers spendmore on discretionary items like sporting goods and bedding, aspayroll taxes and gasoline prices come down [ID:N29428427] J.P Morgan analyst Charles Grom said other chains, such asJ.C. "The March +April period, how we prefer to analyze the two months, is likelyto show a continued improvement from the January and Februaryperiods." March same-store sales fell 1.8 percent, according toThomson Reuters data Excluding Wal-Mart, March sales fell 5percent Wal-Mart said last week it was seeing U.S. "All in, we think April likely comes in ahead ofexpectations for most of our names," Samuels said. He addedthat April's warmer weather boosted sales of spring and summermerchandise that was slow-moving during the cooler March. Oppenheimer analyst Robert Samuels said Easter buoyedapparel sales since many spring breaks from school were timedwith the holiday, leading to greater store traffic.