Business
Power Corporation of Canada Reports Fourth Quarter and 2012 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\n\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\nMONTREAL, March 13, 2013 /CNW Telbec/ - Power Corporation of Canada\n (TSX: POW) today reported earnings results for the fourth quarter and\n the year ended December 31, 2012.\n\n\nFOURTH QUARTER RESULTS\n\n\nOperating earnings attributable to participating shareholders, a\n non-IFRS financial measure, for the quarter ended December 31, 2012\n were $222 million or $0.48 per share, compared with $241 million or\n $0.52 per share in the corresponding period in 2011.\n\n\nSubsidiaries contributed $268 million to Power Corporation's operating\n earnings for the quarter ended December 31, 2012, compared with $279\n million in the same period in 2011. Results from corporate activities\n were a net charge of $33 million, compared with a net charge of\n $28 million in the corresponding period in 2011.\n\n\nOther items in the quarter, not included in operating earnings,\n represented a net charge of $140 million. Power Corporation's share of\n other items at Power Financial Corporation (Power Financial), a\n subsidiary, was $84 million. In addition, other items included\n impairment charges totalling $56 million recorded by Square Victoria\n Communications Group Inc., a subsidiary of the Corporation. In the\n corresponding quarter of 2011, other items represented a net\n contribution of $73 million. Additional details on other items can be\n found in this news release and in the Earnings Summary below.\n\n\nNet earnings attributable to participating shareholders for the quarter\n ended December 31, 2012 were $82 million or $0.18 per share, compared\n with $314 million or $0.68 per share in the corresponding period in\n 2011.\n\n\n2012 RESULTS\n\n\nFor the year ended December 31, 2012, operating earnings attributable to\n participating shareholders were $963 million or $2.09 per share,\n compared with $1,152 million or $2.50 per share in 2011.\n\n\nSubsidiaries contributed $1,108 million to Power Corporation's operating\n earnings for the year ended December 31, 2012, compared with $1,150\n million in 2011. Results from corporate activities represented a net\n charge of $95 million, compared with a net contribution of $43 million\n in 20...