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UPDATE: Boralex Slightly Higher As Posts Stronger Financial Performance in 2011

Boralex Inc. (BLX.TO) added almost 1% to its price in the morning trade to reach $8.30 after announcing earlier today its financial results for the fiscal 2011. More than 7,000 BLX have changed hands.

The power producer ended fiscal 2011 with a sharp rise in earnings before interest, taxes, depreciation and amortization, totaling $100.8 million compared with $39.4 million in 2010.

This rise resulted primarily from the positive impact of consolidating the operations of Boralex Power Income Fund and growth in the wind and solar power segments, which contributed $38.2 million and $18.9 million respectively, in additional EBITDA.

The company also recorded net earnings attributable to shareholders of $2.9 million in 2011, which when increased by $4.6 million compared with 2010, excluding a $36.8 million extraordinary gain recorded in 2010 on the acquisition of the Fund.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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