TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -
For the periods ended June 30 | Three Months | Six Months | |||||||||
($ in thousands, except per share amounts) | 2012 | 2011 | 2012 | 2011 | |||||||
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.
Contact Information:
George Mavroudis
President and Chief Executive Officer
(416) 364-8341
Guardian Capital Group Limited
C. Verner Christensen
Senior Vice-President, Finance and Secretary
(416) 947-4093
info@guardiancapital.com