GMP SECURITIES TO HOST INAUGURAL BLOCKCHAIN CONFERENCE AND ANNOUNCES MIKE NOVOGRATZ AS KEYNOTE SPEAKER
Toronto, November 28, 2017 - GMP Securities L.P. (GMP or the Company), a wholly-owned subsidiary of GMP Capital Inc. (TSX: GMP), today announced it will be hosting the inaugural GMP Securities Blockchain Technology Conference on December 7, 2017 at the Royal York Hotel in Toronto.
The Company is also pleased to confirm Michael Novogratz, Chief Executive Officer of Galaxy Investment Partners, as keynote speaker. Mr. Novogratz, an internationally recognized investor in blockchain, cryptocurrencies and initial coin offerings, will share his expert insights, first-hand experience as well as his outlook for blockchain and cryptocurrencies. In the attached video, Michael discusses his views on cryptocurrencies with Bloomberg https://www.youtube.com/watch?v=DozrRY2NENU.
Toronto, November 20, 2017 - GMP Capital Inc. (GMP or the Company) (TSX: GMP) today announced Doug Bell, Vice Chairman, Investment Banking and member of the Company’s Executive Committee, is leaving the company after eight years with GMP. Mr. Bell is establishing a principal business in the mining sector.
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.”
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.