Business
BMTC Group Inc. announces financial results for its quarter ended June 30th, 2011
MONTREAL, Aug. 11, 2011 /CNW Telbec/ - For the six month period ended June 30th, 2011, the Co...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Aug. 11, 2011 /CNW Telbec/ - For the six month period ended\n June 30th, 2011, the Company's revenue decreased by $33,629,000  to\n $357,320,000, from the $390,949,000 recorded in the corresponding 2010\n period. Net earnings for the six month period ended June 30th, 2011,\n stood at $24,270,000 compared with $20,787,000, for the corresponding\n 2010 period. Basic earnings per share increased going from $0.40 in\n 2010 to $0.48 in 2011.\n\n\nResults from the costing of options had the effect of reducing net basic\n earnings by $0.04 per share, compared to a decrease of $0.15 per basic\n share for corresponding 2010 period. While the Company costs options as\n either an expense or revenue in the net earnings calculation, the\n Company believes it is preferable to inform readers of its financial\n statements of the impact of this element, which is outside the\n Company's control and which varies according to calculation based on\n the Black Scholes method. An increase in this value incurs an expense,\n while a decrease incurs revenue. Of particular concern is that the\n reader could be made to believe that the Company's profitability had\n risen in the context of a major decrease in the value attributed. It is\n for this reason that the Company includes net earnings in absolute\n dollars and per-share dollars excluding this costing of options effect;\n it is therefore unlikely that we can compare them with the same type of\n measures presented by other issuers. It is worth noting that the\n Company offers a stock option program that allows the holder to\n exercise his options in lieu of cash therefore being one of few public\n companies to expense options on an ongoing basis.\n\n\nThe share repurchase program contribute to an increase of net per basic\n share earnings of $0.02.\n\n\nExcluding this effect, net earnings would have decreased by $2,280,000\n or $0.05 per basic share.\n\n\nThe adjusted $2,280,000 decrease in net earnings breaks down as follows:\n\n\n\n\n\n \n\n\n2011\n\n\n2010\n\n\n \n\n\n($ in thousands)\n\n\nNet Earnings\n\n\n24,270\n\n\n20,787\n\n\nVariation of cost of options (after-tax)\n\n\n2,107\n\n\n7,870\n\n\nAdjusted Net Earnings\n\n\n26,377\n\n\n28,657\n\n\nMINUS : Adjusted Net Earnings for the 2010 period\n\n\n28,657\n\n\n       &#...