Business
BMTC Group Inc. announces financial results for its quarter ended September 30th, 2013
MONTREAL , Nov. 7, 2013 /CNW Telbec/ - For the nine month period ended September 3...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\nMONTREAL, Nov. 7, 2013 /CNW Telbec/ - For the nine month period ended\n September 30th, 2013, the Company's revenues decreased by $15,625,000 to $520,575,000,\n compared to $536,200,000 recorded in the corresponding 2012 period. Net\n earnings for the nine month period ended September 30th, 2013, amounted to $30,629,000 compared to $32,257,000 for the\n corresponding 2012 period. Basic net earnings per share decreased to\n $0.66 compared to $0.67 in 2012.\n\n\nThe effect of costing options had no impact on net basic earnings per\n share for the nine month period ended September 30th, 2013, compared to an increase of $0.01 for the corresponding 2012\n period. While the Company costs options as either an expense or revenue\n in the net earnings calculation, the Company believes it is preferable\n to inform readers of its financial statements of the impact of this\n 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 sale of fixed assets during the 2012 period resulted in an increase\n in net per share earnings of $0.02 while no corresponding amount for\n the 2013 period.\n\n\nThe share repurchase program contributed to an increase of $0.02 in\n basic net earnings per share during the nine month period ended\n September 30th, 2013.\n\n\nExcluding this effect, net earnings would have increased by $99,000 or\n $0.00 per basic share for the nine month period ended September 30th, 2013.\n\n\nThe $99,000 variation in adjusted net earni...