Canaccord Adj. Profit Tops Estimates

(RTTNews) - Financial services provider Canaccord Genuity Group Inc (CF.TO, CF.L) on Tuesday reported fourth-quarter net loss of C$30 million or C$0.33 per share compared with a profit of C$25.9 million or C$0.22 per share last year.

Excluding items, adjusted earnings for the quarter were C$0.05 per share compared with C$0.25 per share a year ago.

Revenues for the quarter were down 8% at C$232.5 million compared with C$253.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of C$0.03 per share on revenues of C$206.3 million for the quarter. Analysts' estimates typically exclude special items.

The company has declared a quarterly dividend of C$0.05 per common share.