Business
The Caldwell Partners International Issues Fiscal 2014 Fourth Quarter and Full Year Financial Results
Fourth quarter revenue up 28% over prior year to $13.2 million . Company posts annua...
About this update from Caldwell Partners International Inc.
[{"type":"text","content":"\n\n\n\nFourth quarter revenue up 28% over prior year to $13.2 million.\n\n\nCompany posts annual revenue of $45.1 million, up 33% over prior year.\n\n\nBoard declares 11th consecutive quarterly dividend - 2.0 cents per share, up 14% over prior\n quarter.\n\n\n\nTORONTO, Nov. 13, 2014 /CNW/ - Retained executive search firm The\n Caldwell Partners International Inc. (TSX: CWL) today issued its\n financial results for the fiscal 2014 fourth quarter and year ended\n August 31, 2014. 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 except per share amounts)\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\n2014\n\n\n2013\n\n\n2014\n\n\n2013\n\n\n\n\nOperating revenue\n\n\n$13,231\n\n\n$10,338\n\n\n$45,086\n\n\n$33,803\n\n\n\n\nExpenses\n\n\n$13,059\n\n\n$9,392\n\n\n$43,823\n\n\n$33,935\n\n\n\n\nOperating profit (loss)1\n\n\n$172\n\n\n$946\n\n\n$1,263\n\n\n($132)\n\n\n\n\nInvestment income\n\n\n$13\n\n\n$2\n\n\n$24\n\n\n$13\n\n\n\n\nEarnings (loss) before tax1\n\n\n$185\n\n\n$948\n\n\n$1,287\n\n\n($119)\n\n\n\n\nNet earnings (loss) after tax1,2\n\n\n$892\n\n\n$793\n\n\n$1,967\n\n\n($282)\n\n\n\n\nNet earnings (loss) per share1,2\n\n\n$ 0.044\n\n\n$ 0.045\n\n\n$ 0.101\n\n\n($0.017)\n\n\n\n\n\nIncluded in the 2013 results are $0.4 million in severance costs\n incurred in the third quarter. As the company did not recognize tax\n assets on operating losses during 2013, these items equally impacted\n net earnings before tax and net earnings after tax.\n\n\nDuring the fourth quarter of 2014, the Company determined it was\n probable that it would be able to utilize deferred tax assets within\n its US subsidiary. Accordingly, the Company recognized a net tax\n benefit of $707 (2013: expense of $155) for the quarter and $680 (2013:\n expense of $163) for the year. \n\n\n\n\"Our expansion over the last five years has been nothing less than\n outstanding,\" said John Wallace, chief executive officer. \"In 2009 our\n revenue was $16 million from 27 partners billing an average $0.6\n million per partner. Five years later we have collectively attained $45\n million in revenue from an average of 32 partners billing $1.4 million\n per partner. These results represent a...