TORONTO, ONTARIO — (Marketwire) — 05/11/12 — Guardian Capital Group Limited (TSX: GCG)(TSX: GCG.A)
Assets under management were $16.9 billion as at March 31, 2012, compared to $15.9 billion as at December 31, 2011 and $16.4 billion as at March 31, 2011. Assets under administration were $9.1 billion as at March 31, 2012, compared to $8.7 billion as at December 31, 2011, and $8.1 billion as at March 31, 2011.
Net earnings available to shareholders for the quarter were $4.4 million or $0.14 per share, diluted, compared to $4.6 million or $0.14 per share, diluted, in the first quarter of 2011. This reduction in earnings resulted from the recording of net losses from securities in the current quarter, compared with $0.8 million of gains recorded in the first quarter of 2011.
Adjusted cash flow from operations for the quarter was $5.5 million or $0.17 per share, diluted, compared to $4.6 million or $0.14 per share, diluted, in the first quarter of 2011.
The fair value of the Company-s holdings of securities as at March 31, 2012 was $386.8 million, or $11.92 per share, diluted, compared with $364.2 million, or $11.17 per share, diluted, at December 31, 2011, and $411.1 million, or $12.42 per share, diluted, at March 31, 2011.
Guardian Capital Group Limited is a diversified financial services company founded in 1962 and celebrating its 50th year in business. Guardian provides institutional and private client investment management services; 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.
Contacts:
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