Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) Announces 2012 Third Quarter Operating Results
TORONTO, ONTARIO--(Marketwire - Nov. 12, 2012) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -
For the periods ended September 30
Three Months
Nine Months
($ in thousands, except per share amounts)
2012
2011
2012
2011
Net revenue
$
20,858
$
18,871
$
61,231
$
53,869
Operating earnings
4,647
4,344
14,347
11,809
Net gains (losses)
2,045
(2,013
)
1,481
(1,707
)
Net earnings before net gains (losses) on securities held for sale
6,045
2,136
13,262
9,570
Adjusted cash flow from operations
5,091
5,227
15,737
13,892
Per Share
Net earnings before net gains (losses) on securities held for sale
Basic
$
0.20
$
0.11
$
0.42
$
0.34
Diluted
0.19
0.10
0.42
0.33
Adjusted cash flow from operations
Basic
$
0.16
$
0.16
$
0.50
$
0.43
Diluted
0.16
0.16
0.49
0.43
The Company's operating results for the third quarter of 2012 reflect the early adoption by the Company of IFRS standards 10, 11 and 12, and the amendment of its policies regarding controlled entities which are held for sale.
Net gains (losses) on securities held for sale (1)
$
2,849
$
(8,410
)
$
3,475
$
(7,729
)
Net earnings (loss) available to shareholders
8,750
(5,876
)
16,641
2,258
Per Share
Net earnings (loss) available to shareholders
Basic
$
0.30
$
(0.18
)
$
0.53
$
0.07
Diluted
0.29
(0.18
)
0.52
0.07
(1)
The "Net gains (losses) on securities held for sale" disclosed above represents, for the periods indicated, the net changes in the fair value of certain mutual funds, which have been recorded in accordance with new accounting standards and policies which the Company has adopted in the current quarter, on a retrospective basis.
All per share figures disclosed below are stated on a diluted basis.
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