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

Guardian Capital Group Limited

August 09, 2012 16:31 ET

Guardian Capital Group Limited (TSX: GCG; GCG.A) Announces 2012 Second Quarter Operating Results

TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -

For the periods ended June 30 Three Months Six Months
($ in thousands, except per share amounts) 2012 2011 2012 2011
Net revenue $ 20,085 $ 17,500 $ 40,253 $ 35,123
Operating earnings 4,860 3,316 9,700 7,465
Net (losses) gains on securities (548 ) (478 ) (564 ) 306
Net earnings available to shareholders 2,847 2,855 7,265 7,453
Adjusted cash flow from operations 5,242 4,007 10,646 8,649
Per Share
Net earnings, basic $ 0.09 $ 0.09 $ 0.23 $ 0.23
Net earnings, diluted 0.09 0.09 0.23 0.23
Adjusted cash flow from operations, basic $ 0.17 $ 0.12 $ 0.34 $ 0.27
Adjusted cash flow from operations, diluted 0.17 0.12 0.34 0.27

Assets under management were $16.9 billion as at June 30, 2012, compared to $15.9 billion as at December 31, 2011 and $16.2 billion as at June 30, 2011. Assets under administration were $8.9 billion as at June 30, 2012, compared to $8.7 billion as at December 31, 2011, and $8.0 billion as at June 30, 2011.

All per share figures disclosed below are stated on a diluted basis.

Net earnings available to shareholders for the quarter were $2.8 million or $0.09 per share, compared to $2.9 million or $0.09 per share in the second quarter of 2011. Net earnings available to shareholders for the quarter were reduced as a result of an increase in deferred income taxes of $1.2 million or $0.04 per share, resulting from increased Ontario income tax rates enacted in June, 2012.

Adjusted cash flow from operations for the quarter was $5.2 million or $0.17 per share, compared to $4.0 million or $0.12 per share in the second quarter of 2011.

The fair value of the Company's holdings of securities as at June 30, 2012 was $368 million, or $11.43 per share, compared with $364 million, or $11.17 per share at December 31, 2011, and $403 million, or $12.23 per share at June 30, 2011.

Guardian Capital Group Limited is a diversified financial services company founded in 1962 and celebrating its 50th year in business. Guardian serves the wealth management needs of a range of clients through its various business segments. Guardian's operations include investment management; financial advisory; and corporate investments. Its Common and Class A shares are listed on The Toronto Stock Exchange.

Contact Information

  • Guardian Capital Group Limited
    George Mavroudis
    President and Chief Executive Officer
    (416) 364-8341

    Guardian Capital Group Limited
    C. Verner Christensen
    Senior Vice-President, Finance and Secretary
    (416) 947-4093
    info@guardiancapital.com