Click here to close now.

Welcome!

News Feed Item

Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) Announces 2012 Third Quarter Operating Results

TORONTO, ONTARIO -- (Marketwire) -- 11/13/12 -- 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.

Assets under management were $18.0 billion as at September 30, 2012, compared to $15.9 billion as at December 31, 2011 and $15.2 billion as at September 30, 2011. Assets under administration were $9.2 billion as at September 30, 2012, compared to $8.7 billion as at December 31, 2011, and $8.4 billion as at September 30, 2011.

Net earnings before net gains (losses) on securities held for sale available to shareholders for the quarter were $6.0 million or $0.19 per share, compared to $2.1 million or $0.10 per share in the third quarter of 2011. Net earnings before net gains (losses) on securities held for sale available to shareholders for the nine months in 2012 were $13.3 million, or $0.42 per share, compared with $9.6 million, or $0.33 per share in the year 2011. Management believes that the "Net earnings before net gains (losses) on securities held for sale" stated above is the most directly comparable measure of the historical presentation of the Company's operating results.

Adjusted cash flow from operations for the quarter was $5.1 million or $0.16 per share, compared to $5.2 million or $0.16 per share in the third quarter of 2011.

The fair value of the Company's holdings of securities as at September 30, 2012 was $377 million, or $11.82 per share, compared with $364 million, or $11.17 per share at December 31, 2011, and $385 million, or $11.82 per share at September 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. ...
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...