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Onex Reports Second Quarter 2008 Results(Marketwire Via Acquire Media NewsEdge) TORONTO, ONTARIO, August 13 / MARKET WIRE/ -- All amounts in Canadian dollars unless otherwise stated Onex Corporation (TSX: OCX) today announced its consolidated financial results for the second quarter and six months ended June 30, 2008. Second-Quarter Results Summary - Revenues rose 16% to $6.8 billion - Operating earnings were $512 million, up 57% from the second quarter last year - A net loss was reported in the quarter of $18 million compared to a 2007 second-quarter net loss of $142 million prior to gains on sales of shares - There were no sales of operating companies in 2008 to generate gains. The 2007 second-quarter net earnings were $166 million including net gains on sales of shares of Spirit AeroSystems and Skilled Healthcare - Cash flow from operations was $307 million, up 61% from $191 million for the second quarter of 2007 Six-Months Results Summary - Revenues grew 14% to $13.0 billion from $11.4 billion in the same period last year - Operating earnings were up 30% to $873 million - Net earnings were $27 million compared to a net loss of $141 million for the six months last year prior to gains on sales of shares - There were no gains in the first six months of 2008. The six-month earnings for 2007 were $315 million, which included the gains on sales of shares of Spirit AeroSystems and Skilled Healthcare, as well as earnings of $120 million from discontinued operations - Cash flow from operations was $448 million, a significant improvement from $114 million of cash from operations for the first six months of last year - Assets totalled $27.0 billion at June 30, 2008, up from $26.2 billion at December 31, 2007 Almost all of Onex' businesses reported growth in revenues and operating earnings in the second quarter over the same quarter last year. As well, growth in the second quarter and first six months of 2008 was driven by the acquisitions of Carestream Health, Tube City IMS and Husky, which were completed in 2007. "We continued to build our alternative asset management business in the quarter with our fundraising efforts for Onex Partners III. Two closings of third-party capital for that Fund totalling over US$2.4 billion were successfully completed and we believe that we are on track to conclude that fundraising in early 2009," said Gerald W. Schwartz, Chairman and Chief Executive Officer of Onex. " While there were no Onex acquisitions in the second quarter, our focus on certain industries is beginning to surface attractive opportunities. The current credit environment is not detering us from actively seeking those unique opportunities to acquire great businesses." Onex has been actively repurchasing its shares. From the beginning of the year up to July 31, 2008, Onex has repurchased 2,491,283 Subordinate Voting Shares at a total cost of $76 million ($30.44 per share). Operating earnings as referred to in this press release are a non-GAAP measure. See Onex' Management's Discussion and Analysis for the definition and the reconciliation to the consolidated statements of earnings. Attached are the Consolidated Balance Sheets, Statements of Earnings, Statements of Cash Flows and information by industry segment for the three and six months ended June 30, 2008 and 2007. The complete financial statements, including Onex' Management's Discussion and Analysis of the results, are posted on Onex' website, www.onex.com and are also available on SEDAR. Webcast Onex management will host a conference call to review the Company's Second Quarter 2008 results at 4:30 p.m. today. A live webcast of this conference call will be available in listen-only mode on its website, www.onex.com. About Onex Onex makes private equity investments through the Onex Partners and ONCAP families of funds. Onex also manages alternative asset platforms focused on Real Estate and Credit Securities. Through its Funds, Onex generates annual management fee income from third parties and is also entitled to a carried interest on $6.4 billion of that capital. In addition, Onex invests its own approximately $4 billion of capital in both direct investments and as a Limited Partner in its Funds. Onex' businesses generate annual revenues of $35 billion, have assets of $39 billion and employ 235,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The company's security filings can also be accessed at www.sedar.com. This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise. Consolidated Balance Sheets ---------------------------------------------------------------------------- (Unaudited) As at June 30 As at December 31 (in millions of Canadian dollars) 2008 2007 ---------------------------------------------------------------------------- Assets Current assets Cash and short-term investments $ 2,465 $ 2,462 Marketable securities 818 813 Accounts receivable 3,783 3,463 Inventories 2,908 2,539 Other current assets 1,455 1,461 ---------------------------------------------------------------------------- 11,429 10,738 Property, plant and equipment 3,590 3,489 Investments 3,326 3,203 Other long-term assets 2,533 2,634 Intangible assets 2,569 2,692 Goodwill 3,564 3,443 ---------------------------------------------------------------------------- $ 27,011 $ 26,199 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued liabilities $ 4,248 $ 4,033 Other current liabilities 1,018 864 Current portion of long-term debt and capital leases, without recourse to Onex 203 321 Current portion of warranty reserves and unearned premiums 1,565 1,544 ---------------------------------------------------------------------------- 7,034 6,762 Long-term debt and capital leases of operating companies, without recourse to Onex 6,339 6,185 Long-term portion of warranty reserves and unearned premiums 2,349 2,364 Other long-term liabilities 1,772 1,663 Future income taxes 1,293 1,373 ---------------------------------------------------------------------------- 18,787 18,347 Non-controlling interests 6,545 6,149 Shareholders' equity 1,679 1,703 ---------------------------------------------------------------------------- $ 27,011 $ 26,199 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Consolidated Statements of Earnings ---------------------------------------------------------------------------- (Unaudited) Three months Six months (in millions of Canadian ended June 30 ended June 30 dollars, except per share ----------------------------------------- data) 2008 2007 2008 2007 ---------------------------------------------------------------------------- Revenues $ 6,815 $ 5,870 $ 13,041 $ 11,401 Cost of sales (5,501) (4,832) (10,549) (9,454) Selling, general and administrative expenses (671) (612) (1,359) (1,087) ---------------------------------------------------------------------------- Earnings Before the Undernoted Items 643 426 1,133 860 Amortization of property, plant and equipment (151) (130) (300) (255) Amortization of intangible assets and deferred charges (86) (63) (186) (90) Interest expense of operating companies (122) (141) (253) (257) Interest income 20 30 40 65 Earnings (loss) from equity-accounted investments 17 (31) (11) (23) Foreign exchange gains (loss) (13) (74) 33 (82) Stock-based compensation income (expense) (18) (84) 32 (140) Other income 20 2 16 5 Gains on sales of operating investments, net - 1,137 - 1,143 Acquisition, restructuring and other expenses (65) (20) (113) (41) Writedown of goodwill and long-lived assets (3) (2) (3) (2) ---------------------------------------------------------------------------- Earnings before income taxes, non-controlling interests and discontinued operations 242 1,050 388 1,183 Provision for income taxes (98) (61) (147) (103) Non-controlling interests (162) (827) (219) (885) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations (18) 162 22 195 Earnings from discontinued operations - 4 5 120 ---------------------------------------------------------------------------- Net Earnings (Loss) for the Period $ (18) $ 166 $ 27 $ 315 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Net Earnings (Loss) per Subordinate Voting Share Basic and Diluted: Continuing operations $ (0.14) $ 1.26 $ 0.18 $ 1.51 Discontinued operations $ - $ 0.03 $ 0.04 $ 0.93 Net earnings (loss) $ (0.14) $ 1.29 $ 0.22 $ 2.44 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Consolidated Statements of Cash Flows ---------------------------------------------------------------------------- Three months Six months (Unaudited) ended June 30 ended June 30 (in millions of Canadian ----------------------------------------- dollars) 2008 2007 2008 2007 ---------------------------------------------------------------------------- Operating Activities Net earnings (loss) for the period $ (18) $ 166 $ 27 $ 315 Earnings from discontinued operations - (4) (5) (120) Items not affecting cash: Amortization of property, plant and equipment 151 130 300 255 Amortization of intangible assets and deferred charges 86 63 186 90 Amortization of deferred warranty costs (7) (43) (22) (108) Writedown of goodwill and long-lived assets 3 2 3 2 Non-cash component of restructuring 1 (5) 1 (5) Non-controlling interests 162 827 219 885 Future income taxes 19 16 (22) 23 Stock-based compensation expense (income) 18 84 (32) 140 Loss (earnings) from equity-accounted investments (17) 31 11 23 Foreign exchange loss (gains) 7 66 (15) 77 Gains on sales of operating investments, net - (1,137) - (1,143) Other (10) 11 19 23 ---------------------------------------------------------------------------- 395 207 670 457 Changes in non-cash working capital items: Accounts receivable (158) (357) (233) (376) Inventories (159) 143 (301) 250 Other current assets 37 54 52 181 Accounts payable, accrued liabilities and other current liabilities 189 409 204 (253) ---------------------------------------------------------------------------- Increase (decrease) in cash due to changes in working capital items (91) 249 (278) (198) Increase (decrease) in warranty reserves and premiums and other liabilities 3 (265) 56 (145) ---------------------------------------------------------------------------- 307 191 448 114 ---------------------------------------------------------------------------- Financing Activities Issuance of long-term debt 272 167 503 1,347 Repayment of long-term debt (447) (256) (597) (914) Cash dividends paid (3) (3) (7) (7) Repurchase of share capital - - (53) - Issuance of share capital by operating companies 35 515 83 1,036 Distributions by operating companies (2) (869) (57) (883) Increase (decrease) due to other financing activities (3) 22 (1) 1 ---------------------------------------------------------------------------- (148) (424) (129) 580 ---------------------------------------------------------------------------- Investing Activities Acquisition of operating investments, net of cash in acquired companies of $2 (2007 - $150) (54) (587) (74) (1,223) Purchase of property, plant and equipment (168) (156) (314) (335) Proceeds from sales of operating investments - 1,309 - 1,309 Increase (decrease) due to other investing activities 79 (21) 3 (704) Cash from discontinued operations -- 5 5 201 ---------------------------------------------------------------------------- (143) 550 (380) (752) ---------------------------------------------------------------------------- Increase (Decrease) in Cash for the Period 16 317 (61) (58) Increase (decrease) in cash due to changes in foreign exchange rates (14) (173) 64 (191) Cash, beginning of the period - continuing operations 2,463 2,562 2,462 2,944 Cash, beginning of the period - discontinued operations - - - 11 ---------------------------------------------------------------------------- Cash, End of the Period 2,465 2,706 2,465 2,706 Short-term investments - - - - ---------------------------------------------------------------------------- Cash and Short-term Investments Held by Continuing Operations $ 2,465 $ 2,706 $ 2,465 $ 2,706 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- INFORMATION BY INDUSTRY SEGMENT FOR THREE MONTHS ENDED JUNE 30, 2008 (Unaudited) (in millions of Canadian dollars) Electronics Three months ended Manufacturing Financial June 30, 2008 Services Aerostructures Healthcare Services ---------------------------------------------------------------------------- Revenues $ 1,897 $ 1,073 $ 1,458 $ 334 Cost of sales (1,748) (858) (1,073) (158) Selling, general and administrative expenses (66) (44) (172) (118) ---------------------------------------------------------------------------- Earnings before the undernoted items 83 171 213 58 Amortization of property, plant and equipment (23) (26) (48) (3) Amortization of intangible assets and deferred charges (4) (2) (55) (4) Interest expense of operating companies (12) (10) (57) (2) Interest income 2 5 3 - Earnings from equity- accounted investments - - 4 - Foreign exchange gains (loss) 2 (1) (6) - Stock-based compensation expense (8) (4) (1) - Other income (expense) - 1 - (1) Acquisition, restructuring and other expenses (4) - (23) (2) Writedown of goodwill and long-lived assets - - - - ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests and discontinued operations 36 134 30 46 Recovery of (provision for) income taxes 4 (47) (32) (14) Non-controlling interests (35) (82) (4) (22) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations 5 5 (6) 10 Earnings from discontinued operations - - - - ---------------------------------------------------------------------------- Net earnings (loss) $ 5 $ 5 $ (6) $ 10 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (Unaudited) (in millions of Canadian dollars) Customer Three months Support Metal Consolidated ended June 30, 2008 Services Services Other(a) Total ---------------------------------------------------------------------------- Revenues $ 451 $ 1,015 $ 587 $ 6,815 Cost of sales (294) (965) (405) (5,501) Selling, general and administrative expenses (124) (16) (131) (671) ---------------------------------------------------------------------------- Earnings before the undernoted items 33 34 51 643 Amortization of property, plant and equipment (14) (16) (21) (151) Amortization of intangible assets and deferred charges (5) (3) (13) (86) Interest expense of operating companies (16) (10) (15) (122) Interest income - - 10 20 Earnings from equity- accounted investments - - 13 17 Foreign exchange gains (loss) (1) - (7) (13) Stock-based compensation expense - - (5) (18) Other income (expense) 1 - 19 20 Acquisition, restructuring and other expenses (29) - (7) (65) Writedown of goodwill and long-lived assets (3) - - (3) ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests and discontinued operations (34) 5 25 242 Recovery of (provision for) income taxes (5) (2) (2) (98) Non-controlling interests - (2) (17) (162) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations (39) 1 6 (18) Earnings from discontinued operations - - - - ---------------------------------------------------------------------------- Net earnings (loss) $ (39) $ 1 $ 6 $ (18) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (a) Includes Cineplex Entertainment, CEI, Hawker Beechcraft, Allison Transmission, Husky, Radian, ONCAP, Onex Real Estate, Onex Credit Partners and the parent company. INFORMATION BY INDUSTRY SEGMENT FOR THE THREE MONTHS ENDED JUNE 30, 2007 (Unaudited) (in millions of Canadian dollars) Electronics Three months ended Manufacturing Financial June 30, 2007 Services Aerostructures Healthcare Services ---------------------------------------------------------------------------- Revenues $ 2,116 $ 1,055 $ 1,215 $ 364 Cost of sales (1,995) (847) (982) (169) Selling, general and administrative expenses (65) (47) (144) (131) ---------------------------------------------------------------------------- Earnings (loss) before the undernoted items 56 161 89 64 Amortization of property, plant and equipment (27) (22) (42) (3) Amortization of intangible assets and deferred charges (6) (1) (43) (5) Interest expense of operating companies (19) (11) (72) (3) Interest income 2 8 1 - Earnings (loss) from equity-accounted investments - - 3 - Foreign exchange loss (1) - (3) - Stock-based compensation expense (3) (16) - (2) Other income (expense) - 2 (1) - Gains on sales of operating investments, net - - - - Acquisition, restructuring and other expenses (3) (4) (4) - Writedown of goodwill and long-lived assets - - (2) - Earnings (loss) before income taxes, non-controlling interests, and discontinued operations (1) 117 (74) 51 Recovery of (provision for) income taxes 26 (39) 25 (18) Non-controlling interests (22) (70) 14 (23) Earnings (loss) from continuing operations 3 8 (35) 10 Earnings from discontinued operations - - - - Net earnings (loss) $ 3 $ 8 $ (35) $ 10 (Unaudited) Customer (in millions of Canadian dollars) Support Metal Consolidated Three months ended June 30, 2007 Services Services Other(a) Total ---------------------------------------------------------------------------- Revenues $ 497 $ 462 $ 161 $ 5,870 Cost of sales (324) (422) (93) (4,832) Selling, general and administrative expenses (141) (15) (69) (612) ---------------------------------------------------------------------------- Earnings (loss) before the undernoted items 32 25 (1) 426 Amortization of property, plant and equipment (17) (14) (5) (130) Amortization of intangible assets and deferred charges (2) (3) (3) (63) Interest expense of operating companies (17) (11) (8) (141) Interest income 1 - 18 30 Earnings (loss) from equity-accounted investments - - (34) (31) Foreign exchange loss (1) - (69) (74) Stock-based compensation expense - - (63) (84) Other income (expense) 1 - - 2 Gains on sales of operating investments, net - - 1,137 1,137 Acquisition, restructuring and other expenses (2) - (7) (20) Writedown of goodwill and long-lived assets - - - (2) ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests, and discontinued operations (5) (3) 965 1,050 Recovery of (provision for) income taxes (4) 1 (52) (61) Non-controlling interests (1) 1 (726) (827) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations (10) (1) 187 162 Earnings from discontinued operations - - 4 4 ---------------------------------------------------------------------------- Net earnings (loss) $ (10) $ (1) $ 191 $ 166 ---------------------------------------------------------------------------- (a) Includes Cineplex Entertainment, CEI, Hawker Beechcraft, Radian, ONCAP, Onex Real Estate, and parent company. INFORMATION BY INDUSTRY SEGMENT FOR THE SIX MONTHS ENDED JUNE 30, 2008 (Unaudited) (in millions of Canadian dollars) Electronics Six months ended Manufacturing Financial June 30, 2007 Services Aerostructures Healthcare Services ---------------------------------------------------------------------------- Revenues $ 3,740 $ 2,114 $ 2,811 $ 664 Cost of sales (3,455) (1,694) (2,075) (316) Selling, general and administrative expenses (132) (88) (357) (239) ---------------------------------------------------------------------------- Earnings before the undernoted items 153 332 379 109 Amortization of property, plant and equipment (45) (51) (94) (6) Amortization of intangible assets and deferred charges (8) (3) (109) (9) Interest expense of operating companies (28) (19) (115) (5) Interest income 9 11 4 - Earnings (loss) from equity-accounted investments - - 8 - Foreign exchange gains (loss) 8 (1) 8 - Stock-based compensation income (expense) (13) (8) (2) - Other income (expense) - 2 - (2) Acquisition, restructuring and other expenses (7) - (53) (4) Writedown of goodwill and long-lived assets - - - - ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests and discontinued operations $ 69 $ 263 $ 26 $ 83 Recovery of (provision for) income taxes 1 (92) (48) (27) Non-controlling interests (61) (160) 3 (39) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations 9 11 (19) 17 Earnings from discontinued operations - - - - ---------------------------------------------------------------------------- Net earnings (loss) $ 9 $ 11 $ (19) $ 17 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total assets $ 4,582 $ 3,769 $ 5,807 $ 5,615 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Long-term debt(b) $ 774 $ 586 $ 2,868 $ 199 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (Unaudited) (in millions of Canadian dollars) Customer Six months ended Support Metal Consolidated June 30, 2008 Services Services Other(a) Total ---------------------------------------------------------------------------- Revenues $ 929 $ 1,629 $ 1,154 $ 13,041 Cost of sales (606) (1,538) (865) (10,549) Selling, general and administrative expenses (260) (29) (254) (1,359) ---------------------------------------------------------------------------- Earnings before the undernoted items 63 62 35 1,133 Amortization of property, plant and equipment (27) (31) (46) (300) Amortization of intangible assets and deferred charges (9) (6) (42) (186) Interest expense of operating companies (30) (20) (36) (253) Interest income 1 - 15 40 Earnings (loss) from equity- accounted investments - - (19) (11) Foreign exchange gains (loss) 4 - 14 33 Stock-based compensation income (expense) - - 55 32 Other income (expense) 1 - 15 16 Acquisition, restructuring and other expenses (34) - (15) (113) Writedown of goodwill and long-lived assets (3) - - (3) ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests and discontinued operations $ (34) $ 5 $ (24) 388 Recovery of (provision for) income taxes (10) (2) 31 (147) Non-controlling interests (1) (2) 41 (219) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations (45) 1 48 22 Earnings from discontinued operations - - 5 5 ---------------------------------------------------------------------------- Net earnings (loss) $ (45) $ 1 $ 53 $ 27 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total assets $ 966 $ 1,161 $ 5,111 $ 27,011 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Long-term debt(b) $ 680 $ 386 $ 997 $ 6,490 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (a) Includes Cineplex Entertainment, CEI, Hawker Beechcraft, Allison Transmission, Husky, Radian, ONCAP, Onex Real Estate, Onex Credit Partners and the parent company. (b) Long-term debt includes current portion, excludes capital leases and is net of capitalized charges. INFORMATION BY INDUSTRY SEGMENT FOR THE SIX MONTHS ENDED JUNE 30, 2007 (Unaudited) (in millions of Canadian dollars) Electronics Six months ended Manufacturing Financial June 30, 2007 Services Aerostructures Healthcare Services ---------------------------------------------------------------------------- Revenues $ 4,274 $ 2,173 $ 2,029 $ 720 Cost of sales (4,036) (1,757) (1,652) (342) Selling, general and administrative expenses (146) (94) (185) (250) ---------------------------------------------------------------------------- Earnings before the undernoted items 92 322 192 128 Amortization of property, plant and equipment (56) (42) (67) (5) Amortization of intangible assets and deferred charges (13) (3) (49) (9) Interest expense of operating companies (41) (21) (101) (7) Interest income 4 17 3 - Earnings (loss) from equity-accounted investments - - 6 - Foreign exchange gains (loss) 1 - (3) - Stock-based compensation expense (7) (23) (1) (2) Other income (loss) - 4 (1) - Gains on sales of operating investments, net - - - - Acquisition, restructuring and other expenses (12) (10) (7) - Writedown of goodwill and long-lived assets - - (2) - ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests, and discontinued operations (32) 244 (30) 105 Recovery of (provision for) income taxes 16 (81) 9 (37) Non-controlling interests 13 (144) (6) (47) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations (3) 19 (27) 21 Earnings from discontinued operations - - - - ---------------------------------------------------------------------------- Net earnings (loss) $ (3) $ 19 $ (27) $ 21 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total assets at December 31, 2007 $ 4,419 $ 3,272 $ 5,745 $ 5,536 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Long-term debt at December 31, 2007(b) $ 752 $ 567 $ 2,835 $ 194 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (Unaudited) (in millions of Canadian dollars) Customer Six months ended Support Metal Consolidated June 30, 2007 Services Services Other(a) Total ---------------------------------------------------------------------------- Revenues $ 938 $ 783 $ 484 $ 11,401 Cost of sales (608) (714) (345) (9,454) Selling, general and administrative expenses (258) (24) (130) (1,087) ---------------------------------------------------------------------------- Earnings before the undernoted items 72 45 9 860 Amortization of property, plant and equipment (31) (26) (28) (255) Amortization of intangible assets and deferred charges (3) (5) (8) (90) Interest expense of operating companies (35) (21) (31) (257) Interest income 1 - 40 65 Earnings (loss) from equity- accounted investments - - (29) (23) Foreign exchange gains (loss) (1) - (79) (82) Stock-based compensation expense (2) - (105) (140) Other income (loss) 2 - - 5 Gains on sales of operating investments, net - - 1,143 1,143 Acquisition, restructuring and other expenses (3) - (9) (41) Writedown of goodwill and long-lived assets - - - (2) ---------------------------------------------------------------------------- Earnings (loss) before income taxes, non-controlling interests, and discontinued operations - (7) 903 1,183 Recovery of (provision for) income taxes (10) 2 (2) (103) Non-controlling interests (3) 3 (701) (885) ---------------------------------------------------------------------------- Earnings (loss) from continuing operations (13) (2) 200 195 Earnings from discontinued operations - - 120 120 ---------------------------------------------------------------------------- Net earnings (loss) $ (13) $ (2) $ 320 $ 315 ---------------------------------------------------------------------------- Total assets at December 31, 2007 $ 1,039 $ 881 $ 5,307 $ 26,199 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Long-term debt at December 31, 2007(b) $ 688 $ 380 $ 960 $ 6,376 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (a) Includes Cineplex Entertainment, CEI, Hawker Beechcraft, Radian, ONCAP, Onex Real Estate, and parent company. (b) Long-term debt includes current portion, excludes capital leases and is net of capitalized charges. Contacts: Onex Corporation Donald W. Lewtas (416) 362-7711 Copyright ? 2008 Marketwire |