Dilution from stock options, although some were to purchase a Fin Planning group Victoria Island. BreX should not have hurt them. Their 1Q last year was great with each Q getting a bit less good. I just took the 3Q nbrs and compared to 4Q nbrs to get differance. OLV off today based on people doing same. Now saying that the nbrs even in the 4Q are ok for a $1.50 stock, and in an area that is exploding. I thought of selling yday, but thing I will hang on since it is cheap and their best Q last year was the next one. Scott
Attention Business/Financial Editors:
C.M. OLIVER INC. REPORTS STRONG YEAR END RESULTS
VANCOUVER, July 28 /CNW/ - C.M. Oliver Inc. (TSE/VSE: OLV) announced the
following financial results for the fiscal year ended March 31, 1997.
Net income for the year was $4.6 million, or $0.27 per share. This
represents a slight increase over the prior years earnings of $4.5 million, or
$0.27 per share.
Consolidated gross revenues for the year ended March 31, 1997 were $83.1
million, an increase of 45% from prior year's revenues of $57.2 million.
Capital in the business grew to $22.0 million, an increase of 50% over the
prior year.
``We have benefited from healthy markets and the growth in the number of
our investment advisors and financial planners,'' said C.M. Oliver Inc. Chief
Executive Officer, William Inwood. ``We have channeled our revenue growth into
the business in the form of significant investments in our people, business
systems, marketing and sales support.''
Other highlights for the Company included:
- Total Revenues for the Company increased by $25.9 million. Retail
revenues contributed to most of this increase, growing by $16.0
million to $54.9 million. Capital Markets Revenues increased from
$10.9 million to $20.2 million, an increase of 85% over the prior
year. The balance of the increase related to improved net interest
earnings and trading gains.
- Total assets under administration grew to $2.5 billion, up from $2.0
billion, an increase of 25% over the prior year.
- The Company now has in excess of 40 sales branches, located in
Alberta, British Columbia and Ontario.
- The retail sales force now numbers over 400 investment advisors and
planners.
C.M. Oliver Inc. is a publicly traded financial services company.
Operating through its subsidiary firms, C.M. Oliver & Company Limited,
Planvest Pacific Financial Corporation, and C.M. Oliver Capital Corporation
the firm provides a complete range of financial services to individual and
institutional clients.
(signed) William J. Inwood
President and Chief Executive Officer
Financial Highlights
Consolidated Results
For the Year Ended March 31, 1997
<<
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Year Ended Year Ended
March 31 '97 March 31 '96
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Revenues $83,129,000 $57,219,000
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Operating Expenses
(Excluding Cost of Sales) $25,984,000 $19,012,000
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Net Income $ 4,583,000 $ 4,484,000
-------------------------------------------------------------------------
Earnings Per Share (Basic) $ 0.27 $ 0.27
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Earnings Per Share
(Fully diluted) $ 0.20 $ 0.22
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>>
-30-
For further information: David Cortens, Chief Financial Officer, (604) 605-3970 |
