Toronto, August 3, 2018 - GMP Capital Inc. (GMP) (TSX: GMP) today reported revenue of $43.8 million in second quarter 2018, down 1% compared with the same period a year ago. Second quarter 2018 net income was $0.5 million and a diluted loss per share of $0.01, compared with a net loss of $54.2 million and a diluted loss per share of $0.79 in second quarter 2017. The improvement largely reflects a $52.0 million non-cash goodwill impairment charge recorded in second quarter 2017. On an adjusted basis1, second quarter 2018 net income was $4.0 million and EPS was $0.04.
“Improved net income highlights the benefit of the firm’s enhanced operating leverage and our leadership position in emerging industries. Adjusted EPS was $0.04 this quarter compared with $0.01 in the same period a year ago while revenues were relatively unchanged. There are two things we are particularly proud of in second quarter 2018: Our Canadian Capital Markets business grew revenue by 15% led by improved origination activity in cannabis and mining, and our Wealth Management continues to deliver solid profitability while growing client assets. We are also encouraged by improving capital markets activity levels,” said Harris Fricker, President and CEO of GMP.
First half 2018 revenue was $96.4 million, up 3% compared with the same period last year. GMP recorded net income of $4.6 million and EPS of $0.03 in first half 2018 compared with a net loss of $50.8 million and a diluted loss per share of $0.76 in first half 2017. First half 2017 included the non-cash goodwill impairment charge. On an adjusted basis1, net income was $11.4 million in first half 2018, generating EPS of $0.12, compared with net income of $8.6 million and EPS of $0.08 in first half 2017.
1. Considered to be a non-GAAP financial measure. This measure does not have any standardized meaning prescribed by generally accepted accounting principles (GAAP) under IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. This data should be read in conjunction with the “Non-GAAP Measures” section at the end of this press release and the “Presentation of Financial Information and Non-GAAP Measures” section in the Second Quarter 2018 MD&A.
TORONTO, ON. (July 11, 2018) – GMP Capital Inc. (GMP) (TSX: GMP) will release its second quarter 2018 financial results on Friday, August 3, 2018. Second quarter results are expected to be released at approximately 6:00 a.m. (EST).
SECOND QUARTER 2018 CONFERENCE CALL
A conference call and live audio webcast to discuss GMP’s second quarter 2018 results will be held that morning at 10 a.m. (EST). Interested parties are invited to access the quarterly conference call on a listen-only basis by dialing 416-340-2216 or 1-800-273-9672 (toll free) or via live audio webcast at http://gmpcapital.com/Investor-Relations/Quarterly-Information.
A recording of the conference call will be available until Friday, August 10, 2018, by dialing 905-694-9451 or 1-800-408-3053 (toll free) and entering access code 7855958#. The webcast will be archived at http://gmpcapital.com/Investor-Relations/Quarterly-Information.
TORONTO, ON. (May 28, 2018) - GMP Capital Inc. (GMP) (TSX: GMP), a leading Canadian diversified financial services firm, announced today that its subsidiary GMP Securities L.P., in partnership with Grit Capital, Einstein Exchange and Vanbex Ventures, will host a charity trading day on Wednesday, June 6, 2018, in support of Covenant House Toronto's anti-sex trafficking campaign.
GMP Capital Inc. is also proud to renew its title sponsorship for the second annual 'Grand Commission' being held the evening of June 6, 2018 at the Ritz Carlton Toronto. The GMP Capital Grand Commission is a multi-dimensional fundraiser that merges pledge-driven corporate giving with a black-tie affair. Employing innovative strategies to accelerate fundraising initiatives, the Grand Commission identifies the most vulnerable areas of Toronto – with proceeds from the 2018 gala in support of Covenant House.
The first of its kind in Canada, this year's charity trading day combines traditional equity trading with the dynamic world of cryptocurrency trading.
On June 6, 2018, GMP Securities L.P. will donate 100% of all agency trading commission dollars from institutional equity trades generated. Joining GMP that day will be Einstein Exchange, Vanbex Ventures and Grit Capital who will donate cryptocurrency trading commissions.
Celebrities such as Canadian NHL players Barclay Goodrow of the San Jose Sharks and Ryan Murphy of the Minnesota Wild, together with Todd Shapiro of SiriusXM will join the GMP trading desk on the morning of June 6, 2018 to be part of the benevolent movement.
TORONTO, ON. (May 3, 2018) – GMP Capital Inc. (GMP) (TSX:GMP) today announced that the eight nominees listed in the Management Information Circular dated March 23, 2018, were elected as directors of GMP. The detailed results of the vote for the election of directors held at GMP’s Annual and Special Meeting of Common Shareholders (the Meeting) on Thursday, May 3, 2018, in Toronto, Ontario, are set out below.
TORONTO, ON. (May 14, 2018) — GMP Capital Inc. (GMP) (TSX: GMP), a leading Canadian diversified financial services firm, announced today its subsidiary, GMP Securities L.P., will hold a Charity Trading Day on Wednesday, June 6, 2018, in support of Covenant House Toronto’s anti-sex trafficking campaign. GMP Securities L.P. will donate 100% of all agency trading commission dollars from institutional equity trades generated that day to support Covenant House Toronto.
Toronto, May 3, 2018 - GMP Capital Inc. (GMP) (TSX: GMP) today reported revenue of $52.5 million in first quarter 2018, up 8% compared with the same period a year ago. First quarter 2018 net income was $4.1 million and EPS was $0.04, compared with net income of $3.5 million and EPS of $0.03 in first quarter 2017. On an adjusted basis1, first quarter 2018 net income was $7.3 million and EPS was $0.08.
“2018 is off to a good start with meaningful growth in our investment banking businesses and ongoing solid contribution from our industry-leading wealth management franchise. Leading the way in investment banking was significant client engagement from our cannabis and blockchain franchises. An explicit element of our strategic agenda has been to diversify and further strengthen the non-commodities portion of our franchise and, we believe, our results this quarter evidences we are on the right path," said Harris Fricker, President and CEO of GMP.
TORONTO, ON. (April 4, 2018) – GMP Securities L.P. (GMP Securities), a wholly-owned subsidiary of GMP Capital Inc. (TSX: GMP), today announced it will be hosting its 2nd annual Cannabis Conference on Thursday, April 19, 2018, at the Ritz-Carlton Hotel in Toronto.
The GMP Securities Cannabis Conference will address key investment themes and emerging opportunities as well as discuss and debate significant trends and developments in the dynamic Cannabis sector, including panel discussions and one-on-one meetings with senior management teams. The conference will also provide the opportunity for key industry participants and institutional investors to network and interact with a diverse group of highly regarded experts, leaders and visionaries from leading public and private cannabis companies.
TORONTO, ON. (April 2, 2018) – GMP Capital Inc. (GMP) (TSX:GMP) will release its first quarter 2018 financial results and hold its annual and special meeting of common shareholders (Annual Meeting) on Thursday, May 3, 2018, in Toronto. First quarter results are expected to be released at approximately 6:00 a.m. (EST).
GMP CAPITAL INC. REPORTS FOURTH QUARTER AND YEAR-END 2017 RESULTS
• Earned net income of $6.4 million and diluted earnings per share of $0.07 in fourth quarter 2017, including meaningful contribution from the blockchain and cryptocurrencies and cannabis franchises
• On an adjusted basis, fourth quarter 2017 net income was $9.7 million and diluted earnings per share1 of $0.11
• Board of directors declared a special cash dividend of $0.10 per common share, payable on April 2, 2018, to common shareholders of record on March 15, 2018.
Toronto, March 2, 2018 - GMP Capital Inc. (GMP) (TSX: GMP) today reported revenue of $59.3 million in fourth quarter 2017 representing a 9% decrease relative to the same period a year ago. GMP recorded net income of $6.4 million and EPS of $0.07 in fourth quarter 2017 compared with net income of $3.2 million and diluted EPS of $0.03 in fourth quarter 2016. Adjusted EPS1 was $0.11 in fourth quarter 2017 compared with $0.07 in the prior year quarter.
“The progress we made toward diversifying our business over the past year is best evidenced by a strong fourth quarter 2017. Impressive growth in our underwriting franchise was driven by robust client activity in the burgeoning blockchain and cannabis sectors," said Harris Fricker, President and Chief Executive Officer, GMP. “Additionally, the declaration of a special dividend by our Board is indicative of the improvement in GMP's operational performance in 2017 and our outlook for the first half of 2018. We also remain encouraged by the ongoing financial strength of our industry-leading Wealth Management business."
Full year revenue was $186.8 million in 2017, down 5% compared with 2016. GMP recorded a net loss of $47.1 million and a diluted loss per share of $0.74 in 2017, primarily due to the $52.0 million non-cash goodwill impairment charge recorded in second quarter 2017. This compared with a net loss of $11.6 million and a diluted loss per share of $0.24 in 2016. On an adjusted basis1 net income was $18.8 million in 2017, generating EPS of $0.18 compared with net income1 of $5.5 million and EPS of $0.01 in 2016.
Commenting further, Mr. Fricker said, “While not without challenges, our improved adjusted net income performance in 2017 demonstrates the powerful operating leverage of an operationally leaner, more focused and better diversified franchise. As promised, we made considerable strides toward diversifying our business, with our non-commodities businesses accounting for half of total investment banking revenue in 2017. GMP established itself as a leader in the emerging blockchain and cannabis growth sectors, as investor interest in these sectors surged in 2017. The real opportunity for our firm is continuing to do what we do best, namely helping small- to mid-cap companies efficiently access the requisite capital needed to grow their business."
For further information about GMP Capital Inc., our results for fourth quarter and year-end 2017 and the meaning of certain references, this earnings release should be read in conjunction with our annual financial statements as at and for the year ended December 31, 2017 (2017 Annual Financial Statements), our management's discussion and analysis for the year ended December 31, 2017 (2017 Annual MD&A) and our annual information form, which can be accessed on our website at gmpcapital.com and on SEDAR at sedar.com. Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars and have been taken from our 2017 Annual Financial Statements prepared in accordance with generally accepted accounting principles (GAAP) under International Financial Reporting Standards (IFRS).
TORONTO, ON. (February 5, 2018) – GMP Capital Inc. (GMP) (TSX: GMP) will release its fourth quarter and fiscal 2017 financial results and host an earnings conference call on Friday, March 2, 2018. Financial results are expected to be released at approximately 6:00 a.m. (ET).