Business
BMTC Group Inc. announces financial results for its quarter ended March 31st, 2013
MONTREAL, May 10, 2013 /CNW Telbec/ - For the quarter ended March 31 st , 2013, the Comp...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, May 10, 2013 /CNW Telbec/ - For the quarter ended March 31st, 2013, the Company's revenues decreased by $2,911,000 to $151,849,000,\n compared to $154,760,000 recorded in the corresponding 2012 period. Net\n earnings for the quarter ended March 31st, 2013, amounted to $1,215,000 compared to a net loss of $1,760,000 for\n the corresponding 2012 period. Basic net earnings per share increased\n to $0.03 compared to a basic net loss per share of $0.04 in 2012.\n\n\nThe effect of costing options had no impact on net basic earnings per\n share for the periods ended March 31st, 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 costing\n options. These adjusted figures are likely not comparable with the same\n type of measures reported by other public issuers. It is worth noting\n that the Company offers a stock the context of a major decrease in the\n value attributed. For this reason the Company discloses  adjusted net\n earnings in absolute dollars and on a per share basis to exclude the\n effect of option program that allows the holder to receive cash in lieu\n of shares upon exercising stock options therefore making BMTC Group\n Inc. one of the few public companies to expense options on an ongoing\n basis.\n\n\nThe share repurchase program contributed to an increase of $0.01 in\n basic net earnings per share during the first quarter 2013.\n\n\nExcluding these effects, net earnings would have been $2,856,000 or\n $0.06 per basic share.\n\n\nThe $2,856,000 variation in adjusted net earnings in 2013 breaks down as\n follows:\n\n\n\n\n\n\n\n \n\n\n2013\n\n\n \n\n\n2012\n\n\n\n\n \n\n\n($ in thousands)\n\n\n\n\nNet (loss) Earnings\n\n\n1 215\n\n\n \n\n\n(1 760)\n\n\n\n\nVariation of cost of options (after-tax)\n\n\n(104)\n\n\n \n\n\n15\n\n\n\n\nAdjusted net (loss) earnings\n\n\n1...