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COPYRIGHT 2004 Asia Pulse Pty Ltd
(Full text of this release can be found at http:/www.asianetnews.net)
HAMILTON, April 29 /PRNewswire-FirstCall-AsiaNet/ --
Diluted Earnings Per Share of $0.31 for the First Quarter
W.P. Stewart & Co., Ltd. today reported net income of $13.9 million, or $0.31 per share (diluted) and $0.31 per share (basic), for the first quarter ended 31 March 2004. This compares with net income in the first quarter of the prior year of $10.2 million or $0.23 per share (diluted) and $0.23 per share (basic).
For the first quarter of 2004 there were 45,422,171 common shares outstanding on a weighted average diluted basis compared to 44,940,152 common shares outstanding for the first quarter of 2003 on the same weighted average diluted basis.
Net income for the quarter ended 31 March 2004 of $13.9 million, adjusted for the add-back of $1.9 million, representing non-cash expenses of depreciation, amortization and other non-cash charges on a tax-effected basis ("cash earnings"), was $15.8...
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