Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Gluskin Sheff + Associates Inc. Announces First Quarter Fiscal 2013 Results

TORONTO, Nov. 8, 2012 /CNW/ - Gluskin Sheff + Associates Inc. (the "Company") announced today its results for the three months ended September 30, 2012.

Financial Highlights:

     
(unaudited, $ '000s except for AUM and per share
   
amounts) 3 Months 3 Months
  Ended Ended
  Sep 30, 2012 Sep 30, 2011
Assets Under Management ($ in millions) $ 5,640 $ 5,283
 
Revenue:
  Base Management Fees $ 18,468 $ 19,302
  Performance Fees   1,096   281
  Investment & Other Income   750   777
Total Revenue $ 20,314 $ 20,360
         
Base EBITDA $ 9,022 $ 9,042
         
Net Income $ 5,946 $ 5,458
         
Basic Earnings per Share $ 0.21 $ 0.19
         
Diluted Earnings per Share $ 0.20 $ 0.19

The Company's revenues are derived from Base Management Fees, calculated as a percentage of Assets Under Management ("AUM"), Performance Fees, which are earned when the Company exceeds pre-specified rates of return, and Investment and Other Income.

During the quarter, AUM increased $188 million from approximately $5.5 billion as at June 30, 2012 to $5.6 billion as at September 30, 2012.  This increase is attributable to positive investment performance of $236 million, offset in part by net withdrawals of $48 million.  AUM increased by $357 million from September 30, 2011 ($5.3 billion) to September 30, 2012 ($5.6 billion). This increase in AUM is attributable to positive investment performance of $469 million, offset in part by net withdrawals of $112 million.

For the three months ended September 30, 2012, Base Management Fees decreased to $18.5 million from $19.3 million for the three months ended September 30, 2011, a decrease of 4% due primarily to the decrease in average Base Management Fee percentage from 1.39% to 1.32%.  This decline is substantially attributable to our having shifted assets out of our more economically sensitive Canadian Equity model into our more defensive Premium Income model, a shift that significantly benefited clients in terms of portfolio returns.

Net Income was $5.9 million or $0.21 per basic common share ($0.20 diluted), for the three months ended September 30, 2012, up from $5.5 million or $0.19 per common share, basis and diluted, for the three months ended September 30, 2011.

"We are pleased with the strong risk-adjusted returns we have generated for our clients this quarter and thus far this year," commented Jeremy Freedman, President & Chief Executive Officer. "Our Firm is making great progress, including the successful application of more tactical approaches to our asset mix and the positioning of our portfolios, along with the upcoming introduction of the new GS+A Tactical Fixed Income Fund. We have also enhanced our focus on the Firm's costs, as we strive to operate more efficiently in all areas of our business. We are excited about the ways these improvements are benefitting our clients and our shareholders."

The Company's full financial statements and Management's Discussion and Analysis can be found on the Company's website at www.gluskinsheff.com and on www.sedar.com.

Founded in 1984, Gluskin Sheff + Associates Inc. is one of Canada's pre-eminent wealth management firms serving high net worth private clients and institutional investors. Gluskin Sheff offers equity and fixed income investment portfolios in addition to being one of the largest managers of alternative investments in Canada. The Company's Subordinate Voting Shares are listed on the Toronto Stock Exchange under the symbol "GS". For more information about the Company, please visit our website at www.gluskinsheff.com.

This press release may contain forward-looking statements relating to Gluskin Sheff + Associates Inc.'s business and the environment in which it operates. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's website at www.gluskinsheff.com or at www.sedar.com. Actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

Non-IFRS Measures

Included in this press release are certain financial terms (including Base EBITDA and AUM) that the Company utilizes to assess the financial performance of its business that are not measures recognized under International Financial Reporting Standards (IFRS).  These non-IFRS measures do not have any standardized meanings prescribed by IFRS and  should not be considered alternatives to net income or any other measure of performance determined in accordance with IFRS.  Therefore, these non-IFRS measures are unlikely to be comparable to similar measures presented by other issuers. For additional information regarding the Company's use of non-IFRS measures, including the calculation of these measures, please refer to the "Non-IFRS financial measures" section of the Company's Management's Discussion and Analysis and its financial statements available on the Company's website and on the SEDAR website located at www.sedar.com.

 

SOURCE Gluskin Sheff + Associates Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstrea...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and proce...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to m...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE