Business
Canaccord Capital Inc. reports record fourth quarter and fiscal year 2006 results
Canaccord Capital Inc. reports record fourth quarter and fiscal year 2006 results.
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\n\nFiscal year 2006 net income up 67.0% and EPS up 56.8% driven by enhanced\nglobal distribution capabilities \n\n(All dollar amounts are stated in Canadian dollars unless otherwise\nindicated)\n\nVANCOUVER, May 17 /CNW/ - Canaccord Capital Inc. (CCI: TSX & AIM)\nannounced that revenue for its fourth quarter of fiscal 2006, ended March 31,\n2006, was a record $207.1 million, up $64.1 million from $142.9 million for\nthe same period a year ago. Net income of $30.1 million for the fourth quarter\nof fiscal 2006 was up $12.8 million from $17.3 million for the same period a\nyear ago, and diluted earnings per share (EPS) for the quarter was $0.63, up\n$0.25, or 65.8% from $0.38 for the same period a year ago. Fiscal year 2006\nrevenue was a record $583.4 million, up $150.6 million from $432.8 million for\nfiscal year 2005. Net income of $81.2 million for fiscal year 2006 was up\n$32.6 million, or 67.0% from $48.6 million for fiscal 2005. Diluted EPS for\nthe year was $1.74, up $0.63, or 56.8% from $1.11 compared to fiscal year\n2005.\n\"Our record success in fiscal 2006 reflects the continued execution of\nour global strategy to be the pre-eminent investment dealer focused on the\nsmall to mid cap market,\" said Peter Brown, Chairman & CEO. \"We look to\ncontinue our commitment to growth and operational excellence in fiscal 2007.\"\nMichael G. Greenwood, President & COO, added, \"We would like to thank our\nintegrated team of professionals in Private Client Services and Canaccord\nAdams worldwide for their continued dedication. Their hard work has grown our\nbusiness and increased our shareholders' return to 103% this year, during a\nperiod of expansion and change.\"\n\nHighlights of the fourth quarter fiscal 2006 results (three months ended\nMarch 31, 2006), compared to the fourth quarter fiscal 2005 results\n(three months ended March 31, 2005):\n- Revenue of $207.1 million, up 44.9%, or $64.1 million, from\n $142.9 million\n- Expenses of $163.6 million, up 39.2%, or $46.1 million, from\n $117.5 million\n- Total compensation payout as a percentage of revenue was 58.9%, down\n 430 basis points from 63.2%\n- Net income of $30.1 million, up 73.7% , or $12.8 million, from\n $17.3 million\n- Diluted EPS of $0.63, up 65.8%, or $0.25, from $0.38\n- Return on equity (ROE) of 45.7%, up from 32.2%\n- Book value per common ...