M ANAGEMENT S DISCUSSION AND ANALYSIS continued 16 Orbit G arant 2012 annual rep O rt During fscal 2012 Orbit Garant drilled a record 149 million metres a 54 increase from 141 million metres drilled in fscal 2011 The Company continued to expand its feet with the addition of 18 new drill rigs from its manufacturing division 32 drill rigs from the acquisition of Lantech Drilling and two drill rigs from a third party The Company also disposed of eight drill rigs bringing its total drill rig count to 224 at the end of fscal 2012 SELECTED ANNUAL FINANCIAL INFORMATION IFRS IFRS 1 Canadian For the year ended June 30 Fiscal Fiscal G A A P 1 millions 2012 2011 Fiscal 2010 Contract revenue Drilling Canada 1330 1087 998 Drilling International 218 190 102 Total 1548 1277 1100 Gross proft 337 285 336 Gross margin 218 223 Adjusted gross margin 2 273 276 306 Net earnings 104 114 126 Net earnings per common share 031 035 038 Net earnings per common share diluted 030 034 038 Total assets 1702 1426 1085 Long term debt 260 147 02 Total metres drilled million 15 14 13 EBITDA 3 279 260 279 EBITDA 180 203 254 1 Figures for fscal 2011 have been restated to comply with IFRS Fiscal 2010 remains un changed as previously reported under Canadian GAAP 2 Refects gross margin excluding amortization expenses See Reconciliation of nonIF RS fnancial measures 3 EBITDA See Reconciliation of nonIFRS fnancial measures 2012 2011 2010 200 9 200 8 2012 2011 2010 200 9 200 8 Number of Drills Metres Drilled 224 155 18 0 13 6 119 87 23 92 110 9332 129 8124 1413332 1 48 965 8