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Canaccord Financial Q4 Revenues Up 34%

Canaccord Financial has posted revenues of CAD143.1m, for the fourth quarter of fiscal 2010 ended March 31, up 33.8% from CAD107m in the same period in 2009.

The net income for the fourth quarter of fiscal 2010 was CAD7.5m or CAD0.14 per diluted share.

Canaccord Financial completed the acquisition of Genuity Capital Markets in April 2010. As a result, on May 10, 2010, Canaccord’s capital markets operations were rebranded from Canaccord Adams to Canaccord Genuity.

Paul Reynolds, president and CEO of Canaccord Financial, said: “Canaccord achieved a great deal over the course of the year. Our recent acquisition of Genuity Capital Markets has greatly enhanced our capital markets capabilities, while investments in our wealth management group are beginning to show early signs of success. These initiatives, as well as the rebranding of Canaccord Financial, have made fiscal 2010 a landmark year in our company’s evolution.”

Canaccord Financial is an independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets.