Toronto, April 30, 2015 - GMP Capital Inc. (GMP) (TSX: GMP) today reported revenue of $53.3 million in first quarter 2015, down 17% compared with the same period a year ago. GMP recorded a net loss of $8.9 million and a diluted loss per share of $0.14 in first quarter 2015 compared with net income of $2.7 million and diluted earnings per share (EPS) of $0.03 in first quarter 2014. On an adjusted basis1, the first quarter 2015 net loss was $6.4 million and diluted loss per share was $0.10.
“Challenging market conditions persisted throughout first quarter 2015 as low commodity valuations produced subdued capital markets activity within our key mid-market sectors,” said Harris Fricker, Chief Executive Officer, GMP. “The build-out of our global energy business into Houston, Texas is now largely complete. Our new Houston office is home to an impressive team of energy professionals already collaborating with their international colleagues to ensure clients gain access to GMP’s extensive capabilities.
Commenting further, “As major shareholders ourselves, senior management is fully cognizant of the near-term impact of the ongoing risk retrenchment and, as we continue to diversify our business, we are keenly focused on safeguarding capital and maintaining liquidity.”
TORONTO, ON. (April 1, 2015) – GMP Capital Inc. (GMP) will release its first quarter 2015 financial results and hold its annual and special meeting of common shareholders (Annual Meeting) on Thursday, April 30, 2015. First quarter results are expected to be released at approximately 6:00 a.m. (EST).