TSX Symbol: CIX
ASSETS & SALES (in $millions)
Assets Under Management
Average Assets Under Management
EARNINGS1 (in $)
Net Income (in millions)
Earnings Per Share
EBITDA Per Share 2
Pre-Tax Operating Earnings Per Share2
Dividends Recorded Per Share (in $)
Net Debt (in $millions)
Return on Equity
Net of non-controlling interest.
Pre-Tax Operating Earnings and EBITDA (earnings before interest, taxes, depreciation and amortization) are not standardized earnings measures prescribed by IFRS; however, management believes that most of its shareholders, creditors, other stakeholders and investment analysts prefer to include the use of these performance measures in analyzing CI's results. CI defines pre-tax operating earnings as income before income taxes less redemption fee revenue, non-recurring items, performance fees and investment gains, plus amortization of deferred sales commissions (DSC) and fund contracts. CI's method of calculating these measures may not be comparable to similar measures presented by other companies.
As a percentage of average assets under management.
Average assets under management reached a record
CI achieved the highest level of second quarter gross sales in its history and the highest level of net sales in over a decade. Gross sales of funds were
Earnings per share of
CI continued to maintain its discretionary spending below the rate of growth in assets under management. Selling, general and administrative (SG&A) expenses as a percentage of average assets under management fell to 35 basis points in the second quarter of 2014, down from 38 basis points in the second quarter of last year.
"CI's second quarter was significant in so many ways: CI celebrated its 20-year anniversary as a publicly traded company and reached a milestone
The Board of Directors declared a monthly cash dividend of
For detailed financial statements for the quarter ended
Analysts' Conference Call
CI will hold a conference call with analysts today at
The call will be available for playback later in the day until
This press release contains forward-looking statements with respect to CI and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.