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

Guardian Capital Group Limited

May 07, 2009 16:39 ET

Guardian Capital Group Limited Announces First Quarter 2009 Operating Results

TORONTO, ONTARIO--(Marketwire - May 7, 2009) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -



--------------------------------------------------------------------------
For the three months ended March 31
($ in thousands, except per share amounts) 2009 2008
--------------------------------------------------------------------------
Gross revenues, net of commission paid to advisors $ 13,385 $ 17,911

Net earnings 1,692 3,655

Cash flow from operations before change in non-cash
working capital 2,647 3,536

Per Share
Basic net earnings $ 0.05 $ 0.09
Diluted net earnings 0.05 0.09

Basic cash flow from operations before change in
non-cash working capital $ 0.07 $ 0.09
Diluted cash flow from operations before change in
non-cash working capital 0.07 0.09


- Net earnings for the quarter were $1.7 million, or $0.05 per share, diluted, compared to $3.7 million, or $0.09 per share, diluted, for the first quarter of 2008.

- Assets under management were $11.1 billion as at March 31, 2009, compared to $16.5 billion as at March 31, 2008.

- Assets under administration were $5.6 billion as at March 31, 2009, compared to $5.7 billion as at March 31, 2008.

- Cash flow from operations for the quarter was $2.6 million, compared to $3.5 million in 2008.

- The fair value of the Company's holdings of securities as at March 31, 2009 was $244.7 million or $6.73 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.

Contact Information

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