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GMP Announces Q3/17 Results

Toronto, November 3, 2017 - GMP Capital Inc. (GMP) (TSX: GMP) today reported revenue of $34.3 million in third quarter 2017, down 21% compared with the same period a year ago. Third quarter 2017 net loss was $2.8 million and diluted loss per share was $0.06, compared with a net loss of $10.6 million and diluted loss per share of $0.18 in third quarter 2016. On an adjusted basis1, third quarter 2017 net income was $0.5 million and diluted loss per share was $0.01.

 “Business activity in the quarter remained stubbornly low. The ongoing malaise in commodities and the low level of activity in small- to mid-cap names in general made for a daunting revenue environment and a disappointing quarter," said Harris Fricker, President and CEO of GMP. 

Commenting further, Mr. Fricker said, "Despite the challenging conditions in the quarter, there were a couple bright spots including the strength demonstrated by our Canadian and international advisory franchises and the ongoing performance of our Wealth Management business. Further we note that capital markets activity has been more robust in the fourth quarter with a particular focus in our blockchain practice.” 

FINANCIAL HIGHLIGHTS 

Third Quarter 2017 vs. Third Quarter 2016

 • Revenue of $34.3 million decreased from $43.5 million.

 • Net loss of $2.8 million improved from a net loss of $10.6 million. 

• On an adjusted basis1, net income of $0.5 million decreased from $2.2 million. 

• Diluted loss per share of $0.06 increased from a diluted loss per share of $0.18.

 • On an adjusted basis1, diluted loss per share of $0.01 decreased from earnings per share (EPS) of $0.01.

First Nine Months 2017 vs. First Nine Months 2016 

• Revenue of $127.6 million decreased from $130.9 million.

• Non-cash goodwill impairment charge of $44.3 million (after-tax) and deferred-tax asset write-down of $7.7 million recorded in second quarter 2017. 

• Net loss of $53.5 million increased from a net loss of $14.9 million. 

• On an adjusted basis1, net income of $9.1 million increased from a net loss of $1.5 million.

 • Diluted loss per share of $0.82 decreased from a diluted loss per share of $0.28. 

• On an adjusted basis1, EPS of $0.08 increased from a diluted loss per share of $0.08. 

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 Third Quarter 2017 MD&A.

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GMP CAPITAL INC ANNOUNCES THAT IT EXPECTS TO RECEIVE $28 MILLION IN CONNECTION WITH RICHARDSON GMP DEBT REFINANCING

GMP Capital Inc. (GMP) (TSX: GMP) today announced that Richardson GMP Limited (Richardson GMP) has entered into a four-year $80 million credit facility agreement with a syndicate of chartered banks. Richardson GMP intends to use the initial proceeds from this facility to refinance its existing long-term indebtedness. The remainder of the proceeds will be used to redeem a substantial portion of its Class B Preference Shares, at par, for an aggregate cash redemption amount of $45 million (the Redemption), including all declared and unpaid dividends, and to repay fully its $5 million subordinated loan facility made available by GMP. The Redemption will be allocated equally between GMP and James Richardson & Sons, Limited. It is anticipated that GMP will receive approximately $28 million in cash.

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GMP to Announce Q3/17 Results

TORONTO, ON. (October 4, 2017) – GMP Capital Inc. (GMP) (TSX: GMP) will release its third quarter 2017 financial results on Friday, November 3, 2017. Third quarter results are expected to be released at approximately 6:00 a.m. (EST).

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GMP Securities Announces Dedicated Blockchain Team

Toronto, September 27, 2017 - GMP Capital Inc. (GMP) (TSX: GMP) today announced that its wholly owned subsidiary, GMP Securities L.P. (GMP Securities), launched a dedicated blockchain technology practice to help corporate clients and investors capitalize on the transformative and disruptive potential of the blockchain and the emerging digital currency space.  The new team will be comprised of investment banking and research professionals.  This expansion into the blockchain ecosystem is reflective of the firm’s longstanding commitment to the technology space and the belief this technology holds the potential to be a significant disrupter across multiple industries.

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GMP Reports Q2 2017 Results


• Revenues increased 7% compared with second quarter 2016
• Second quarter 2017 results affected by non-cash impairment charges
• On an adjusted basis1, net income was $1.6 million in second quarter 2017 or $0.01 per diluted share
• Purchased 1.5 million common shares under 2017 NCIB during second quarter 2017 For further information about GMP

Capital Inc., our results for second quarter 2017 and the meaning of certain references, this earnings release should be read in conjunction with our unaudited interim condensed consolidated financial statements as at and for the three and six months ended June 30, 2017 (Second Quarter 2017 Financial Statements) and our management's discussion and analysis for the three and six months ended June 30, 2017 (Second Quarter 2017 MD&A), 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 Second Quarter 2017 Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS).

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GMP To Announce Second Quarter 2017 Results

TORONTO, ON. (July 17, 2017)  –  GMP Capital Inc. (GMP) (TSX: GMP) will release its second quarter 2017 financial results on Friday, August 4, 2017.  Second quarter results are expected to be released at approximately 6:00 a.m. (EST).

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GMP SECURITIES TO DONATE 100% OF TRADING COMMISSIONS IN SUPPORT OF COVENANT HOUSE

TORONTO, ON. (May 16, 2017) — GMP Capital Inc. (GMP) (TSX: GMP), a leading Canadian diversified financial services firm, announced today that its subsidiary GMP Securities L.P. will hold a Charity Trading Day on Wednesday, June 7, 2017, in support of Covenant House Toronto and its five-year, comprehensive, $10-million anti-sex trafficking campaign, “Just Like a Girl You Know.”  GMP Securities L.P. will donate 100% of all agency trading commission dollars from institutional equity trades generated that day to support Covenant House.

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GMP Announces Election of Directors

TORONTO, ON. (April 28, 2017) – GMP Capital Inc. (GMP) (TSX:GMP) today announced that the nine nominees listed in the Management Information Circular dated March 20, 2017, were elected as directors of GMP.  The detailed results of the vote for the election of directors held at GMP’s Annual Meeting of Common Shareholders (the Meeting) on Thursday, April 27, 2017, in Calgary, Alberta, are set out below.

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GMP Reports Q1/17 Results

Toronto, April 27, 2017 - GMP Capital Inc. (GMP) (TSX: GMP) today reported revenue of $48.9 million in first quarter 2017, up 7% compared with the same period a year ago. Revenues were bolstered by $7.7 million in dividends received in connection with GMP's preferred share investments in Richardson GMP.  First quarter 2017 net income was $3.5 million and  diluted earnings per share (EPS) was $0.03, compared with a net loss of $3.6 million and diluted loss per share of $0.08 in first quarter 2016.  On an adjusted basis1, first quarter 2017 net income was $7.1 million and EPS was $0.07. 

For further information about GMP Capital Inc., our results for first quarter 2017 and the meaning of certain references, this earnings release should be read in conjunction with our unaudited interim condensed consolidated financial statements as at and for the three months ended March 31, 2017 (First Quarter 2017 Financial Statements) and our management's discussion and analysis for the three months ended March 31, 2017 (First Quarter 2017 MD&A), 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 First Quarter 2017 Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS).

 

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GMP to Announce Q1/17 Results and Host AGM on April 27, 2017

TORONTO, ON. (March 31, 2017) – GMP Capital Inc. (GMP) (TSX:GMP) will release its first quarter 2017 financial results and hold its annual meeting of common shareholders (Annual Meeting) on Thursday, April 27, 2017 in Calgary. First quarter results are expected to be released at approximately 6:00 a.m. (EST).

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Review our forward-looking statements disclosure. 

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