Guardian Capital Group Limited Announces 2009 Operating Results
25 Février 2010 - 11:19PM
Marketwired
Guardian Capital Group Limited (TSX: GCG)(TSX: GCG.A) -
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For the period ended December 31
($ in thousands, except per Three Months Twelve Months
share amounts) 2009 2008 2009 2008
(Amended) (Amended)
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Revenues, net of commissions
paid to advisors $ 18,207 $ 10,499 $ 62,364 $ 62,434
Net earnings (loss) 6,934 (1,006) 14,274 7,299
Cash flow from operations,
before change in non-cash
working capital 5,362 3,543 14,703 14,144
Per Share
Basic net earnings (loss) $ 0.20 $ (0.03) $ 0.41 $ 0.19
Diluted net earnings (loss) 0.20 (0.03) 0.41 0.19
Basic cash flow from operations,
before change in non-cash
working capital 0.16 0.10 0.42 0.38
Diluted cash flow from
operations, before change in
non-cash working capital 0.15 0.10 0.42 0.37
Assets under management were $14.0 billion as at December 31,
2009 compared to $11.8 billion as at December 31, 2008. Assets
under administration (AUA) were $7.1 billion as at December 31,
2009, compared to $6.0 billion as at December 31, 2008. AUA for
2008 have been restated to include segregated funds in the
insurance agency subsidiary.
Net earnings for the year 2009 were $14.3 million or $0.41 per
share, diluted, compared to $7.3 million or $0.19 per share,
diluted, for 2008. Net earnings for 2009 include a benefit of $2.0
million, or $0.06 per share, diluted, as a result of the decrease
in future Ontario income taxes enacted during that year.
Cash flow from operations before change in non-cash working
capital for the year was $14.7 million or $0.42 per share, diluted
compared to $14.1 million or $0.37 per share, diluted for 2008.
The fair value of corporate holdings of securities as at
December 31, 2009 was $362.5 million, or $10.49 per share, diluted,
compared to $241.5 million, or $6.69 per share, diluted, as at
December 31, 2008.
The Board of Directors has declared an "eligible" dividend of
$0.15 per share, payable on March 19, 2010 to shareholders of
record on March 12, 2010.
The 2008 comparative figures shown above have been amended to
reflect the retrospective consolidation of the Company's Employee
Profit Sharing Plan Trust. In consolidating the Trust, the Company
has recorded the bank loan and the Company shares owned by the
Trust, and has recorded certain interest and compensation expenses
not previously recorded. The amounts which have been
retrospectively recorded are not material in any of the past
periods to which they refer, or in the current periods.
Guardian Capital Group Limited is a diversified financial
services company founded in 1962. Guardian provides institutional
and high net worth investment management services to clients;
provides financial services to international investors; and
provides services to financial advisors in its national mutual fund
dealer, securities dealer, and insurance distribution network. Its
Common and Class A shares are listed on The Toronto Stock
Exchange.
Contacts: Guardian Capital Group Limited Vern Christensen (416)
947-4093 Guardian Capital Group Limited Sam K. Greiss (416)
947-4093
Guardian Capital (TSX:GCG)
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