Business
BMTC Group Inc. announces financial results for its quarter ended June 30th, 2013
MONTREAL , Aug. 8, 2013 /CNW Telbec/ - For the six month period ended June 30 th , ...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\nMONTREAL, Aug. 8, 2013 /CNW Telbec/ - For the six month period ended\n June 30th, 2013, the Company's revenues decreased by $7,341,000 to $333,260,000,\n compared to $340,601,000 recorded in the corresponding 2012 period. Net\n earnings for the six month period ended June 30th, 2013, amounted to $14,789,000 compared to $12,122,000 for the\n corresponding 2012 period. Basic net earnings per share increased to\n $0.32 compared to $0.25 in 2012.\n\n\nThe effect of costing options had no impact on net basic earnings per\n share for the six month period ended June 30th, 2012 and 2013. While the Company costs options as either an expense or\n revenue in the net earnings calculation, the Company believes it is\n preferable to inform readers of its financial statements of the impact\n of this element, which is outside the Company's control and that varies\n according to a calculation based on the Black-Scholes method. An\n increase in that value is recorded as an expense, while a decrease in\n value has the opposite effect. Of particular concern is the reader may\n conclude that the Company's profitability has increased in the context\n of a major decrease in the value attributed. For this reason the\n Company discloses  adjusted net earnings in absolute dollars and on a\n per share basis to exclude the effect of costing options. These\n adjusted figures are likely not comparable with the same type of\n measures reported by other public issuers. It is worth noting that the\n Company offers a stock option program that allows the holder to receive\n cash in lieu of shares upon exercising stock options therefore making\n BMTC Group Inc. one of the few public companies to expense options on\n an ongoing basis.\n\n\nThe share repurchase program contributed to an increase of $0.01 in\n basic net earnings per share during the six month period ended June 30th, 2013.\n\n\nExcluding these effects, net earnings would have increased by $2,723,000\n or $0.06 per basic share for the six month period ended June 30th, 2013.\n\n\nThe $2,723,000 variation in adjusted net earnings in 2013 breaks down as\n follows:\n\n\n \n\n\n2013\n\n\n \n\n\n2012\n\n\n \n\n\n($ in thousands)\n\n\nNet Earnings\n\n\n14,789\n\n\n \n\n\n12,122\n\n\nVariation of cost of options (after-tax)\n\n\n(94)\n\n\n \n\n\n(150...