Guardian Capital Group Limited
TSX : GCG
TSX : GCG.A

Guardian Capital Group Limited

August 07, 2008 16:36 ET

Guardian Capital Group Limited Announces Second Quarter 2008 Operation Results

TORONTO, ONTARIO--(Marketwire - Aug. 7, 2008) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -



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For the period ended June 30 Three Months Six Months
($ in thousands, except per share amounts) 2008 2007 2008 2007
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Gross revenues, net of commission paid
to advisors $17,490 $19,059 $35,357 $36,952

Net earnings 3,009 6,070 6,664 10,571

Cash flow from operations before change
in non-cash working capital 3,250 4,562 6,786 9,290

Per Share
Basic net earnings $ 0.08 $ 0.16 $ 0.17 $ 0.27
Diluted net earnings 0.08 0.16 0.17 0.27

Basic cash flow from operations before
change in non-cash working capital $ 0.08 $ 0.11 $ 0.17 $ 0.23
Diluted cash flow from operations before
change in non-cash working capital 0.08 0.11 0.17 0.23


- Net earnings for the quarter were $3.0 million compared to $6.1 million for the second quarter of 2007.

- Assets under management were $17.0 billion as at June 30, 2008, compared to $17.8 billion as at June 30, 2007.

- Assets under administration were $7.4 billion as at June 30, 2008, compared to $5.7 billion as at June 30, 2007.

- Income from securities, net, in the second quarter of 2008 amounted to $4.1 million, compared to $5.7 million for the second quarter of 2007.

- Cash flow from operations for the quarter was $3.3 million, compared to $4.6 million in 2007.

The fair value of the Company's holdings of securities as at June 30, 2008 was $309.6 million or $7.91 per share, diluted.

Guardian Capital Group Limited is a diversified financial services company founded in 1962. Guardian provides institutional and high net worth investment management services to 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.

Contact Information

  • Guardian Capital Group Limited
    Vern Christensen
    (416) 947-4093
    or
    Guardian Capital Group Limited
    Sam K. Greiss
    (416) 947-3743