M ANAGEMENT ’ S DISCUSSION AND ANALYSIS (continued) 16 Orbit G arant 2012 annual rep O rt During fscal 2012, Orbit Garant drilled a record 1.49 million metres, a 5.4% increase from 1.41 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* 133.0 108.7 99.8 Drilling International* 21.8 19.0 10.2 Total* 154.8 127.7 110.0 Gross proft* 33.7 28.5 33.6 Gross margin (%) 21.8 22.3 Adjusted gross margin (%) (2) 27.3 27.6 30.6 Net earnings* 10.4 11.4 12.6 Net earnings per common share ($) 0.31 0.35 0.38 Net earnings per common share diluted ($) 0.30 0.34 0.38 Total assets* 170.2 142.6 108.5 Long term debt* 26.0 14.7 0.2 Total metres drilled (million) 1.5 1.4 1.3 EBITDA* (3) 27.9 26.0 27.9 EBITDA % 18.0 20.3 25.4 (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 non-IF RS fnancial measures” (3) EBITDA See “Reconciliation of non-IFRS 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 2,3 92 1,10 9,332 1,29 8,124 1,413,332 1, 48 9,65 8