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

Guardian Capital Group Limited

May 08, 2008 17:11 ET

Guardian Capital Group Limited Announces First Quarter 2008 Operating Results

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -



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For the three months ended March 31
($ in thousands, except per share amounts) 2008 2007
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Revenues, net of commissions paid to advisors $ 17,867 $ 17,893

Net earnings 3,655 4,501

Cash flow from operations, before change in
non-cash working capital 3,536 4,728

Per Share
Basic earnings $ 0.09 $ 0.11
Diluted earnings 0.09 0.11

Basic cash flow from operations, before change in
non-cash working capital $ 0.09 $ 0.11
Diluted cash flow from operations, before change in
non-cash working capital 0.09 0.11


- Net earnings for the quarter were $3.7 million compared to $4.5 million for the first quarter of 2007.

- Assets under management were $16.5 billion as at March 31, 2008, compared to $17.4 billion as at March 31, 2007.

- Assets under administration were $5.7 billion as at March 31, 2008, compared to $5.5 billion as at March 31, 2007.

- Cash flow from operations for the quarter was $3.5 million, compared to $4.7 million in 2007.

The fair value of the Company's holdings of securities as at March 31, 2008 was $326.9 million or $8.28 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