(March 31 – 09:40 ET) – Rice Capital Management Inc. reports finishing its year slightly in the black.

Rice earned $132,000 for the fourth quarter, enough to push it into a meagre profit for the year, $21,000. Gross revenue for the fourth quarter just topped $4 million, bringing revenue for the year to $12.8 million, a 22% increase over 1998. Pre-tax and before the amortization of goodwill, the firm earned $342,000 for the quarter and $175,000 for the year.

Since the year-end, Rice has announced four acquisitions: InteGrant
Financial Services Inc. of Brandon, Man., Halmac & Associates Ltd. of
Regina, Ottawa’s Gifford Associates, and J. R. Morgan Securities of Langley, B.C. These acquisitions boost Rice’s assets under administration to $3.1 billion from $1.8 billion.
-IE Staff