Canadian General Investments Reports 2005 Third Quarter Results.TORONTO -- Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. General Investments, Limited's (CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CGI)(TSX:CGI.PR.A)(TSX:CGI.PR.B)(TSX:CGI.WT)(LSE LSE - Language Sensitive Editor :CGI)(LSE:CGIW) diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. net asset value per share (NAV See navigation system and navigation bar. ) return, with dividends reinvested, for the three, nine and twelve month periods ended September 30, 2005 were 14.4%, 23.4% and 43.4%, respectively. By comparison, the returns of the benchmark S&P/TSX Composite Total Return Index (S&P/TSX) for the same periods were 11.6%, 20.7% and 29.3%. CGI's market returns, including reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. of dividends, to common shareholders were 21.1% for the third quarter, 46.1% year-to-date and 75.9% over the twelve months to September 30, 2005. At September 30, 2005, net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. were $587,857,000, up 23.5% from the 2004 year-end value of $475,976,000. The corresponding NAVs at September 30, 2005 and December 31, 2004 were $25.35 and $20.71. For the first nine months of 2005, CGI had an increase in net assets resulting from operations of $126,145,000, or $5.52 per common share on a diluted basis. For the corresponding period in 2004, the increase was $41,724,000 or $1.86 per share. The net gain on investments for the first nine months of 2005 was $125,648,000, comprised of a net realized gain Realized Gain A gain resulting from selling an asset at a price higher than the original purchase price. Notes: There may be tax consequences for a realized profit. of $53,973,000 and a change in unrealized gain Unrealized Gain A profit that results from holding on to an asset rather than cashing it in and using the funds. Notes: Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain. on investments of $71,675,000. There was a net gain on investments of $39,197,000 during the comparable period in 2004. Net investment income for the nine months to September 30, 2005 was $497,000, down from the $2,527,000 recorded in the nine month period in 2004. CGI purchased 94,800 of its warrants for cancellation during the first nine months of 2005 pursuant to its normal course issuer bid which was renewed in April 2005. Outstanding warrants continue to be exercisable on June 30 of each year until their expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created in 2007. During each of the first three quarters of both 2005 and 2004, CGI paid regular income dividends of $0.06 per share to its common shareholders.
FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)
Three Months Ended Nine Months Ended
------------------ ----------------
Sept. Sept. Sept. Sept.
30, 30, 30, 30,
2005 2004 2005 2004
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Net investment income
(loss) for the period 3 (81) 497 2,527
Net realized gain
on investments 15,128 9,144 53,973 31,158
Change in unrealized gain
on investments 63,404 4,728 71,675 8,039
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Increase in net assets
resulting from operations 78,535 13,971 126,145 41,724
Increase in net assets
resulting from operations
per common share - basic 3.82 0.67 6.15 2.04
Increase in net assets
resulting from operations
per common share - diluted 3.41 0.62 5.52 1.86
As at
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Sept. 30, Dec. 31, Sept. 30,
2005 2004 2004
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Net assets 587,857 475,976 420,870
Net asset value per share - basic 28.57 23.22 20.53
Net asset value per share - diluted 25.35 20.71 18.40
In the United Kingdom, copies of the Corporation's quarterly report will be made available at the U.K. branch transfer agent, Computershare Investor Services PLC, P.O. Box 82, The Pavilions, Bridgwater Road, Bristol, BS99 7NH. Phone 0117-941-7781. Canadian General Investments, Limited (TSX:CGI) (TSX:CGI.PR.A) (TSX:CGI.WT) (TSX:CGI.PR.B) (LSE:CGI) (LSE:CGIW) |
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