Business
BMTC Group Inc. announces financial results for its quarter ended March 31st, 2009
MONTREAL, May 7 /CNW Telbec/ - BMTC Group inc. announced that for the quarter ended March 31st, 2...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, May 7 /CNW Telbec/ - BMTC Group inc. announced that for the\nquarter ended March 31st, 2009, the Company's revenue totalled $168.8 a\ndecreased of $12.9 million compared to the $181.7 million recorded in the\ncorresponding 2008 period. For the quarter ended March 31st, 2009, the net\nincome stood at $3.1 million compared to $11.6 million, for the corresponding\n2008 period. The net earnings per share stood at $0.11 compared to $0.37 for\nthe corresponding 2008 period.\n\n\nResults from the costing of options had the effect of reducing net\nearnings by $0.04 per share, compared to an increase of net earnings of $0.17\nper share for the corresponding period. While the Company costs options as\neither an expense or revenue in the net earnings calculation, the Company\nbelieves it is preferable to inform readers of its financial statements of the\nimpact of this element, which is outside the Company's control and which\nvaries along with the course of the Company's share price in any given time\nperiod. An increase in the Company's share price incurs an expense, while a\ndecrease in the Company's share price incurs revenue. Of particular concern is\nthat the reader could be made to believe that the Company's profitability had\nrisen in the context of a major decrease in the Company's share price. It is\nfor this reason that the Company includes net earnings in absolute dollars and\nper-share dollars excluding this costing of options effect, even though doing\nso does not conform to GAAPs, it is therefore unlikely that we can compare\nthem with the same type of measures presented by other issuers. It is worth\nnoting that the Company offers a stock option program that allows the holder\nto exercise his options in lieu of cash therefore being one of few public\ncompanies to expense options on an ongoing basis.\n\n\nThe sale of fixed assets during the quarter of the previous fiscal year\nresulted in an increase in net per share earnings of $0.11. The share\nrepurchase program contributed in an increase of net earnings per-share of\n$0.01 for the period.\n\n\nExcluding all these effects, net earnings would have increased by $1.4\nmillion or $0.05 per share for the period.\n\n\nThe adjusted $1.4 million increase breaks down as follows:\n\n\n 2009 2008\n\n ($ in thousands, except\n for per share amounts)\n\nNet Earnings ...