date:Aug 11, 2012
lion representing growth of 5.3 per cent in sales and growth of 24.7 per cent in EBITDA.
The growth in EBITDA came as a result of higher sales prices and higher sales volumes, partially offset by a shift to lower margin species and higher harvesting and procurement costs per pound in certain species. This resulted in quarterly gross margins of 21.6% versus 16.0% percent and year to date gross margins of 19.4% versus 16.1%
Year to date Clearwater experienced higher sales volumes due mostly to