Business
BMTC Group Inc. announces financial results for its quarter ended March 31st, 2014
MONTREAL , May 8, 2014 /CNW Telbec/ - For the quarter ended March 31 st , 2014, t...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\nMONTREAL, May 8, 2014 /CNW Telbec/ - For the quarter ended March 31st, 2014, the Company's revenues decreased by $6,731,000 to $145,118,000,\n compared to $151,849,000 recorded in the corresponding 2013 period. Net\n loss for the quarter ended March 31st, 2014, amounted to $1,468,000 compared to net earnings of $1,215,000\n for the corresponding 2013 period. For the quarter ended March 31st, 2014, the Company recorded a basic net loss per share of $0.03\n compared to a net basic earnings per share of $0.03 for the\n corresponding 2013 period.\n\n\nThe effect of costing options had no impact on net basic earnings per\n share for the periods ended March 31st, 2014 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 a decrease of $0.01 in basic\n net loss per share during the first quarter 2014.\n\n\nIncluding these effects, the net loss would have been $2,432,000 or\n $0.05 per basic share.\n\n\nThe $2,432,000 variation in adjusted net loss in 2014 breaks down as\n follows:\n\n\n\n\n\n\n\n \n\n\n2014\n\n\n \n\n\n 2013\n\n\n\n\n \n\n\n($ in thousands)\n\n\n\n\nNet Loss\n\n\n(1 468)\n\n\n \n\n\n1 215\n\n\n\n\nVariation of cost of options (after-tax)\n\n\n147 \n\n\n&#x...