On a year-to-date basis, revenue from power sales and tolling agreements was C$86.8 million, an increase of C$16 million, or 23%, over the same period in 2006. EBITDA totaled C$28.2 million, which is an increase of C$6.9 million, or 33%, compared to C$21.2 million in 2006. Funds from continuing operations were C$17.7 million, or C$0.40 per share, down C$2.8 million or 14% compared to C$20.5 million, or C$0.47 per share, for the first three quarters of 2006.
Net income increased to C$11.4 million, or C$0.26 per share, for the first nine months of 2007, from C$9.4 million, or C$0.21 per share, during the same period in 2006. Net income in the first three quarters of 2007 includes a current tax provision of C$9.2 million and a future income tax recovery of C$3.7 million for a net tax provision of C$5.5 million, compared to a net tax provision of C$4 million in the first three quarters of 2006.
The improved operating results for the nine months ended September 30, 2007 over the same period of 2006 were mainly due to increased production, as Maxim recorded generation of 852,929MWh in the first three quarters of 2007, versus 782,991MWh during the same period in 2006. Milner produced 684,775MWh during the nine months ended September 30, 2007, compared to 632,645MWh for the same period of 2006.
