Business
BMTC Group Inc. announces financial results for its second quarter ended June 30, 2008
MONTREAL, Aug. 7 /CNW Telbec/ - For the six-month period ended June 30th, 2008, the Company's rev...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, Aug. 7 /CNW Telbec/ - For the six-month period ended June 30th,\n2008, the Company's revenue increased by $12.6 million to $407.2 million, from\nthe $394.6 million recorded in the corresponding 2007 period. Net income for\nthe six-month period ended June 30th, 2008, stood at $28,663,000 compared with\n$16,933,000, for the corresponding 2007 period. Earnings per share ("EPS")\nincreased by $0.40 to $0.92 for the semester ended June 30th, 2008.\n\n\nFor the six-month period ended June 30th, 2008 results from the variation\nof costing options had the effect of increasing net earnings by $0.18 per\nshare, compared to a reduction of $0.18 per share for the corresponding 2007\nperiod. While the Company costs options as either an expense or revenue in the\nnet earnings calculation, the Company believes it is preferable to inform\nreaders of its financial statements of the impact of this element, which is\noutside the Company's control and which varies along with the course of the\nCompany's share price in any given time period. An increase in the Company's\nshare price incurs an expense, while a decrease in the Company's share price\nincurs revenue. Of particular concern is that the reader could be made to\nbelieve that the Company's profitability had risen in the context of a major\ndecrease in the Company's share price. It is for this reason that the Company\nincludes net earnings in absolute dollars and per-share dollars excluding this\ncosting of options effect, even though doing so does not conform to GAAPs, it\nis therefore unlikely that we can compare them with the same type of measures\npresented by other issuers. It is worth noting that the Company is one of few\npublic companies to expense options on an ongoing basis.\n\n\nThe sale of fixed assets resulted in an increase in net per share\nearnings of $0.11 compared with an increase of $0.06 for the corresponding\nperiod of 2007. The share repurchase program contributed $0.03 to the net per\nshare earnings for the semester ended June 30th, 2008. Excluding all these\neffects, net earnings would have decreased by $1.2 million or $0.04 per share\nfor the six-month period ended June 30th, 2008 compared to the corresponding\nperiod.\n\n\nThe adjusted $1.2 million decrease in net earnings breaks down as\nfollows:\n\n\n 2008 2007\n ($ in thousands, except\...