TSX:GMP.PR.C - Post by User
Post by
Carlos66on Nov 14, 2016 3:53pm
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Post# 25458899
FYI...GMP Richardson sale off
FYI...GMP Richardson sale offTORONTO, Nov. 10, 2016 /CNW/ - GMP Capital Inc. (GMP) (TSX: GMP) today announced that in response to ongoing speculation regarding GMP's equity holding in Richardson GMP Limited (Richardson GMP) and in the wake of a consideration of options available, GMP confirms that it will be retaining its investment and, further, that Richardson GMP will be staying the course as the leading Canadian independent in the domestic wealth management space.
Does staying the course means still suffering the on-going losses? Read below...
FINANCIAL HIGHLIGHTS
Third Quarter 2016 versus Third Quarter 2015
• Revenue of $43.5 million compared with $53.9 million.
• Expenses of $55.7 million compared with $60.4 million.
• Net loss of $10.6 million compared with net loss of $11.1 million.
• Adjusted net income of $2.2 million compared with adjusted with net loss of $6.6 million.
• Diluted loss per share of $0.18 compared with diluted loss per share of $0.19.
• Adjusted EPS of $0.01 compared with adjusted diluted loss per share of $0.12.
• Annualized return on common equity (ROE)1 of negative 21.8% compared with negative 20.2%.
• Adjusted ROE of 1.1% compared with adjusted negative ROE of 12.6%.
First Nine Months 2016 versus First Nine Months 2015
• Revenue of $130.9 million compared with $186.4 million.
• Expenses of $146.9 million compared with $192.4 million.
• Net loss of $14.9 million compared with net loss of $14.5 million.
• Adjusted net loss of $1.5 million compared with adjusted net loss of $8.0 million.
• Diluted loss per share of $0.28 compared with diluted loss per share of $0.26.
• Adjusted diluted loss per share of $0.08 compared with adjusted diluted loss per share of $0.16.
1. Considered to be a non-GAAP financial measure. This measure does not have any standardized meaning prescribed by generally accepted accounting principles
(GAAP) under IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. This data should be read in conjunction with
the “Non-GAAP Measures” section at the end of this press release and the “Presentation of Financial Information and Non-GAAP Measures” section in the
Third Quarter 2016 MD&A.
carlos