Business
The Caldwell Partners International Issues Fiscal 2013 Fourth Quarter and Full Year Financial Results
Fourth quarter revenue up 17% over prior year to $10.3 million . Company posts annual ...
About this update from Caldwell Partners International Inc.
[{"type":"text","content":"\n\n\n\nFourth quarter revenue up 17% over prior year to $10.3 million.\n\n\nCompany posts annual revenue of $33.8 million, up 3% over prior year.\n\n\nBoard declares 1.75 cent quarterly dividend, up 17% over prior quarter.\n\n\n\nTORONTO, Nov. 8, 2013 /CNW/ - Retained executive search firm The\n Caldwell Partners International Inc. (TSX: CWL) today issued its\n financial results for the fiscal 2013 fourth quarter and year ended\n August 31, 2013. All references to quarters or years are for the fiscal\n periods unless otherwise noted and all currency amounts are in Canadian\n dollars.\n\n\nFinancial Highlights (in $000s)\n\n\n\n\n\n\n\n \n\n\nThree Months Ended \nAugust 31\n\n\nYear Ended\nAugust 31\n\n\n\n\n \n\n\n2013\n\n\n2012\n\n\n2013\n\n\n2012\n\n\n\n\nOperating revenue1\n\n\n$10,338\n\n\n$8,856\n\n\n$33,803\n\n\n$32,704\n\n\n\n\nExpenses\n\n\n9,392\n\n\n7,908\n\n\n33,935\n\n\n31,693\n\n\n\n\nOperating profit (loss)1\n\n\n946\n\n\n948\n\n\n(132)\n\n\n1,011\n\n\n\n\nInvestment income\n\n\n2\n\n\n5\n\n\n13\n\n\n15\n\n\n\n\nNet earnings (loss) before tax1\n\n\n948\n\n\n953\n\n\n(119)\n\n\n1,026\n\n\n\n\nNet earnings (loss) after tax1\n\n\n793\n\n\n956\n\n\n(282)\n\n\n981\n\n\n\n\nNet earnings (loss) per share\n\n\n$ 0.045\n\n\n$ 0.056\n\n\n($0.017)\n\n\n$0.057\n\n\n\n\n\nIncluded in the 2013 results are $0.4 million in severance costs\n incurred in the third quarter, and a deferral of $0.8 million in\n operating profit (on $1.4 million deferred revenue) related to a change\n in estimation methodology for deferred revenue that was implemented in\n the fourth quarter. As the company does not currently recognize tax\n assets on operating losses, these items equally impacted net earnings\n before tax and net earnings after tax.\n\n\n\n\"Fiscal 2013 turned out to be a year of polarized results. What began as\n a slow first half of the year in a challenging business climate swung\n dramatically positive over the course of the second half,\" said John\n Wallace, chief executive officer. \"We had a very strong back half,\n which we attribute to a lift from the economy in Canada and the United\n States, as well as the fact that as a collective group we have been\n performing better - our average metrics per partner are up in terms of\n volume and we are winning more search work. We are feeling positive\n about both our curre...