Business
Power Corporation of Canada Reports 2013 Third Quarter and Nine-Month Financial Results and Dividends
Readers are referred to the sections entitled "Non-IFRS Financial Measures" and "Forward-Look...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\nReaders are referred to the sections entitled \"Non-IFRS Financial\n Measures\" and \"Forward-Looking Statements\" at the end of this release.\n\n\nTORONTO, Nov. 14, 2013 /CNW Telbec/ - Power Corporation of Canada (TSX:\n POW) today reported earnings results for the third quarter and nine\n months ended September 30, 2013.\n\n\nTHIRD QUARTER RESULTS\n\n\nOperating earnings attributable to participating shareholders, a\n non-IFRS financial measure, for the quarter ended September 30, 2013\n were $234 million or $0.51 per share, compared with $236 million or\n $0.51 per share in the corresponding period in 2012.\n\n\nExcluding the impact of acquisition and restructuring costs associated\n with the Irish Life Group Limited (Irish Life) acquisition by\n Great-West Lifeco Inc. (Lifeco), operating earnings attributable to\n participating shareholders were $262 million or $0.57 per share.\n\n\nSubsidiaries contributed $267 million to Power Corporation's operating\n earnings, compared with $295 million in the same period in 2012.\n Results from corporate activities were a net charge of $20 million,\n compared with a net charge of $47 million in the corresponding period\n in 2012.\n\n\nOther items, not included in operating earnings, resulted in a net\n charge of $28 million, representing an impairment charge recorded by\n Square Victoria Communications Group Inc. In the corresponding quarter\n of 2012, other items represented a net charge of $36 million.\n Additional details on other items can be found in the section entitled\n \"Other Items\" below.\n\n\nNet earnings attributable to participating shareholders were $206\n million or $0.45 per share, compared with $200 million or $0.43 per\n share in the corresponding period in 2012.\n\n\nNINE-MONTH RESULTS\n\n\nOperating earnings attributable to participating shareholders for the\n nine months ended September 30, 2013 were $741 million or $1.61 per\n share, compared with $728 million or $1.58 per share in the\n corresponding period in 2012.\n\n\nExcluding the impact of acquisition and restructuring costs associated\n with the Irish Life acquisition by Lifeco, operating earnings\n attributable to participating shareholders were $775 million or $1.68\n per share.\n\n\nOther items, not included in operating earnings, resulted in a net\n charge of $64 mil...