Guardian Capital Group Limited (GCG, GCG.A) Today Announced the Company's Operating Results for the Nine Months Ended September
November 09 2010 - 3:25PM
Marketwired Canada
Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -
For the periods ended September 30
($ in thousands, except per share Three Months Nine Months
amounts) 2010 2009 2010 2009
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Gross revenues, net of commissions
paid to advisors $ 16,415 $ 16,271 $ 49,136 $ 44,157
Net earnings 3,323 3,443 9,562 7,340
Cash flow from operations before
change in non-cash working capital 4,001 4,477 11,756 10,374
Per Share
Basic net earnings $ 0.10 $ 0.10 $ 0.29 $ 0.21
Diluted net earnings 0.10 0.10 0.28 0.21
Basic cash flow from operations
before change in non-cash
working capital $ 0.12 $ 0.13 $ 0.36 $ 0.30
Diluted cash flow from operations
before change in non-cash
working capital 0.12 0.13 0.35 0.29
-- Net earnings for the second quarter were $3.3 million, or $0.10 per
share, diluted, compared to $3.4 million, or $0.10 per share, diluted,
for the third quarter of 2009.
-- Assets under management were $15.3 billion as at September 30, 2010,
compared to $13.5 billion as at September 30, 2009.
-- Assets under administration were $7.4 billion as at September 30, 2010,
compared to $6.9 billion as at September 30, 2009.
-- Cash flow from operations for the third quarter was $4.0 million,
compared to $4.5 million for the same period in 2009.
-- The fair value of the Company's holdings of securities as at September
30, 2010 was $384.7 million or $11.46 per share, diluted.
Guardian Capital Group Limited is a diversified financial services company
founded in 1962. Guardian provides investment management services to
institutional and high net worth 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.
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