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.