Guardian Capital Group Limited (TSX: GCG; GCG.A) Announces 2012 Second Quarter Operating Results
10 August 2012 - 6:31AM
Marketwired
Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -
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For the periods ended June 30 Three Months Six Months
($ in thousands, except per share
amounts) 2012 2011 2012 2011
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Net revenue $ 20,085 $ 17,500 $ 40,253 $ 35,123
Operating earnings 4,860 3,316 9,700 7,465
Net (losses) gains on securities (548) (478) (564) 306
Net earnings available to
shareholders 2,847 2,855 7,265 7,453
Adjusted cash flow from operations 5,242 4,007 10,646 8,649
Per Share
Net earnings, basic $ 0.09 $ 0.09 $ 0.23 $ 0.23
Net earnings, diluted 0.09 0.09 0.23 0.23
Adjusted cash flow from operations,
basic $ 0.17 $ 0.12 $ 0.34 $ 0.27
Adjusted cash flow from operations,
diluted 0.17 0.12 0.34 0.27
Assets under management were $16.9 billion as at June 30, 2012,
compared to $15.9 billion as at December 31, 2011 and $16.2 billion
as at June 30, 2011. Assets under administration were $8.9 billion
as at June 30, 2012, compared to $8.7 billion as at December 31,
2011, and $8.0 billion as at June 30, 2011.
All per share figures disclosed below are stated on a diluted
basis.
Net earnings available to shareholders for the quarter were $2.8
million or $0.09 per share, compared to $2.9 million or $0.09 per
share in the second quarter of 2011. Net earnings available to
shareholders for the quarter were reduced as a result of an
increase in deferred income taxes of $1.2 million or $0.04 per
share, resulting from increased Ontario income tax rates enacted in
June, 2012.
Adjusted cash flow from operations for the quarter was $5.2
million or $0.17 per share, compared to $4.0 million or $0.12 per
share in the second quarter of 2011.
The fair value of the Company's holdings of securities as at
June 30, 2012 was $368 million, or $11.43 per share, compared with
$364 million, or $11.17 per share at December 31, 2011, and $403
million, or $12.23 per share at June 30, 2011.
Guardian Capital Group Limited is a diversified financial
services company founded in 1962 and celebrating its 50th year in
business. Guardian serves the wealth management needs of a range of
clients through its various business segments. Guardian's
operations include investment management; financial advisory; and
corporate investments. Its Common and Class A shares are listed on
The Toronto Stock Exchange.
Contacts: Guardian Capital Group Limited George Mavroudis
President and Chief Executive Officer (416) 364-8341 Guardian
Capital Group Limited C. Verner Christensen Senior Vice-President,
Finance and Secretary (416) 947-4093info@guardiancapital.com
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