(October 19 – 14:00 EST) – Toronto-based money manager, Perigee Inc., is reporting improved earnings for the third quarter ended September 30, despite the fact that assets under management declined.
Fully diluted earnings per share were 25¢ up from 21¢ in the period last year. Over the past 12 months the firm has earned 98¢ compared to 76¢ in the period last year. It attributes the improved results to higher revenue, up 14% year over year, and better cost control. Asets slipped from $19.7 billion at June 30 to $19.3 billion, partly due to market loss and partly from redemptions.
The firm is hosting its regular quarterly earnings teleconference tomorrow, October 20, at 09:00 EST. To participate call 1-800-273-9672.
Perigee says that the Y2K issue is being handled by a committee of the board and senior management. It says it has successfully completed internal remediation and testing. It is working on internal testing and contingency planning.
– IE Staff