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

Guardian Capital Group Limited

November 09, 2010 17:26 ET

Guardian Capital Group Limited (GCG, GCG.A) Today Announced the Company's Operating Results for the Nine Months Ended September 30, 2010

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2010) - 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)   2010 2009   2010 2009
             
 
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.

Contact Information

  • Guardian Capital Group Limited
    George Mavroudis
    (416) 364-8341
    or
    Guardian Capital Group Limited
    Vern Christensen
    (416) 947-4093