Caldwell Reports First Quarter Results
Caldwell Partners International (TSX:CWL)(OTCQX:CWLPF) has released its Q1 fiscal 2025 financial results, showing mixed performance across its divisions. Professional fees reached $21.2 million, with Caldwell's segment growing 30% to $18.4 million, while IQTalent's fees decreased to $2.8 million from $3.2 million.
The company reported net earnings of $465,000 ($0.016 per share), compared to $3.8 million ($0.128 per share) in the same quarter last year. However, the previous year's results included significant restructuring income of $8 million. Gross profit improved to $4.2 million from $2.3 million, while operating expenses decreased to $4.2 million from $4.5 million.
The Board declared a quarterly dividend of 0.25 cents per Common Share, payable on March 14, 2025, to shareholders of record as of January 20, 2025.
Caldwell Partners International (TSX:CWL)(OTCQX:CWLPF) ha pubblicato i risultati finanziari del primo trimestre fiscale 2025, mostrando performance miste tra le sue divisioni. Le spese professionali hanno raggiunto i 21,2 milioni di dollari, con la divisione di Caldwell in crescita del 30% a 18,4 milioni di dollari, mentre le spese di IQTalent sono diminuite a 2,8 milioni di dollari, rispetto ai 3,2 milioni di dollari dell'anno precedente.
L'azienda ha riportato utili netti di 465.000 dollari (0,016 dollari per azione), rispetto ai 3,8 milioni di dollari (0,128 dollari per azione) dello stesso trimestre dell'anno scorso. Tuttavia, i risultati dell'anno precedente includevano un significativo reddito da ristrutturazione di 8 milioni di dollari. Il profitto lordo è migliorato a 4,2 milioni di dollari, rispetto ai 2,3 milioni di dollari, mentre le spese operative sono diminuite a 4,2 milioni di dollari, rispetto ai 4,5 milioni di dollari.
Il Consiglio ha dichiarato un dividendo trimestrale di 0,25 centesimi per azione ordinaria, pagabile il 14 marzo 2025, agli azionisti registrati al 20 gennaio 2025.
Caldwell Partners International (TSX:CWL)(OTCQX:CWLPF) ha publicado sus resultados financieros del primer trimestre fiscal 2025, mostrando un rendimiento mixto en sus divisiones. Los honorarios profesionales alcanzaron los 21.2 millones de dólares, con el segmento de Caldwell creciendo un 30% a 18.4 millones de dólares, mientras que los honorarios de IQTalent disminuyeron a 2.8 millones de dólares desde 3.2 millones de dólares.
La empresa reportó ganancias netas de 465,000 dólares (0.016 dólares por acción), en comparación con 3.8 millones de dólares (0.128 dólares por acción) en el mismo trimestre del año pasado. Sin embargo, los resultados del año anterior incluyeron ingresos significativos por reestructuración de 8 millones de dólares. El beneficio bruto mejoró a 4.2 millones de dólares desde 2.3 millones de dólares, mientras que los gastos operativos disminuyeron a 4.2 millones de dólares desde 4.5 millones de dólares.
La Junta declaró un dividendo trimestral de 0.25 centavos por acción común, pagadero el 14 de marzo de 2025, a los accionistas registrados al 20 de enero de 2025.
콜드웰 파트너스 인터내셔널 (TSX:CWL)(OTCQX:CWLPF)는 2025 회계연도 1분기 재무 결과를 발표했으며, 부서 간 혼합된 성과를 보여주었습니다. 전문 수수료는 2,120만 달러에 도달했으며, 콜드웰 부문은 30% 성장하여 1,840만 달러를 기록했지만, IQTalent의 수수료는 320만 달러에서 280만 달러로 감소했습니다.
회사는 순이익 46만 5천 달러(주당 0.016 달러)를 보고했으며, 이는 작년 동분기 380만 달러(주당 0.128 달러)와 비교됩니다. 하지만, 작년 결과에는 800만 달러의 상당한 구조조정 수익이 포함되었습니다. 총 이익은 230만 달러에서 420만 달러로 개선되었고, 운영 비용은 450만 달러에서 420만 달러로 감소했습니다.
이사회는 배당금을 보통주당 0.25센트로 삼개월 간 지급하기로 결의했으며, 2025년 1월 20일까지 주주로 등록된 이들에게 2025년 3월 14일에 지급될 예정입니다.
Caldwell Partners International (TSX:CWL)(OTCQX:CWLPF) a publié ses résultats financiers du premier trimestre fiscal 2025, montrant des performances mixtes à travers ses divisions. Les honoraires professionnels ont atteint 21,2 millions de dollars, avec le segment de Caldwell augmentant de 30% pour atteindre 18,4 millions de dollars, tandis que les honoraires d'IQTalent ont diminué à 2,8 millions de dollars, contre 3,2 millions de dollars.
L'entreprise a annoncé un bénéfice net de 465 000 dollars (0,016 dollar par action), contre 3,8 millions de dollars (0,128 dollar par action) au même trimestre de l'année dernière. Cependant, les résultats de l'année précédente comprenaient un revenu important de restructuration de 8 millions de dollars. Le bénéfice brut a été amélioré à 4,2 millions de dollars, contre 2,3 millions de dollars, tandis que les dépenses d'exploitation ont diminué à 4,2 millions de dollars, contre 4,5 millions de dollars.
Le Conseil a déclaré un dividende trimestriel de 0,25 cent par action ordinaire, payable le 14 mars 2025, aux actionnaires enregistrés au 20 janvier 2025.
Caldwell Partners International (TSX:CWL)(OTCQX:CWLPF) hat seine finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025 veröffentlicht, die gemischte Ergebnisse in den einzelnen Geschäftsbereichen zeigen. Die Beratungsgebühren erreichten 21,2 Millionen Dollar, wobei Caldwell's Segment um 30% auf 18,4 Millionen Dollar wuchs, während die Gebühren von IQTalent auf 2,8 Millionen Dollar von 3,2 Millionen Dollar sanken.
Das Unternehmen berichtete von nettoerträgen in Höhe von 465.000 Dollar (0,016 Dollar pro Aktie), verglichen mit 3,8 Millionen Dollar (0,128 Dollar pro Aktie) im gleichen Quartal des Vorjahres. Allerdings beinhalteten die Ergebnisse des Vorjahres erhebliches Umstrukturierungseinkommen von 8 Millionen Dollar. Der Bruttogewinn verbesserte sich auf 4,2 Millionen Dollar von 2,3 Millionen Dollar, während die Betriebsaufwendungen auf 4,2 Millionen Dollar von 4,5 Millionen Dollar sanken.
Der Vorstand erklärte eine vierteljährliche Dividende von 0,25 Cent pro Stammaktie, zahlbar am 14. März 2025, an die Aktionäre, die zum 20. Januar 2025 eingetragen sind.
- Professional fees increased 22% year-over-year to $21.2 million
- Caldwell segment showed 30% growth in professional fees to $18.4 million
- Gross profit increased 84% to $4.2 million
- Operating expenses reduced by 7.3% to $4.2 million
- IQTalent segment revenue declined 12.7% to $2.8 million
- Net earnings decreased 87.7% year-over-year to $465,000
- Earnings per share dropped to $0.016 from $0.128 in previous year
TORONTO, ON / ACCESSWIRE / January 9, 2025 / Talent acquisition firm The Caldwell Partners International Inc. (TSX:CWL)(OTCQX:CWLPF) today issued its financial results for the first quarter of fiscal 2025, ended November 30, 2024. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.
Financial Highlights (in
|
| Three Months Ended |
| |||||
|
|
| 11.30.24 |
|
|
| 11.30.23 |
|
Professional fees - Caldwell |
|
| 18,389 |
|
|
| 14,166 |
|
Professional fees - IQTalent1 |
|
| 2,766 |
|
|
| 3,170 |
|
Consolidated professional fees |
|
| 21,155 |
|
|
| 17,336 |
|
Direct expense reimbursements |
|
| 205 |
|
|
| 199 |
|
Revenues |
|
| 21,360 |
|
|
| 17,535 |
|
Cost of sales |
|
| 16,943 |
|
|
| 15,044 |
|
Reimbursed direct expenses |
|
| 205 |
|
|
| 199 |
|
Gross profit |
|
| 4,212 |
|
|
| 2,292 |
|
Selling, general and administrative expenses2 |
|
| 4,193 |
|
|
| 4,522 |
|
Restructuring income3 |
|
| - |
|
|
| (7,979 | ) |
Operating profit |
|
| 19 |
|
|
| 5,749 |
|
Finance expenses (income) |
|
| (486 | ) |
|
| 412 |
|
Earnings before tax |
|
| 505 |
|
|
| 5,337 |
|
Income tax expense |
|
| 40 |
|
|
| 1,559 |
|
Net earnings after tax |
|
| 465 |
|
|
| 3,778 |
|
Basic earnings per share |
| $ | 0.016 |
|
| $ | 0.128 |
|
Basic earnings (loss) per share adjusted for restructuring income4 |
| $ | 0.016 |
|
| $ | (0.044 | ) |
|
|
|
|
|
|
|
|
|
Professional fees of IQTalent are presented net of elimination of intercompany revenue.
Selling, general and administrative expenses include an expense of
$63 related to share-based compensation as a result of share price increase in the current quarter, compared to a benefit of$43 in the same quarter last year.Restructuring income of
$7,979 in the first quarter of the prior year includes separation expense of$1,089 for management staff reductions at IQTalent, more than offset by a net gain on lease termination of$9,068 as IQTalent negotiated a termination of its Nashville leased facility resulting in a recovery of lease impairment charges expensed in the fourth quarter of the prior year.Non-GAAP measure calculated by excluding tax-adjusted restructuring income from net earnings after tax, and dividing by the number of shares outstanding at the end of the period. This measure allows for enhanced comparability of the current quarter results compared to the same quarter last year. See following page for the calculation.
"Our first quarter was characterized by a blend of growth and stability," said Chris Beck, chief executive officer. "Caldwell saw a meaningful rebound in professional fees, driven by a significant increase in new search assignments where first quarter professional fees of
"While we remain mindful of broader economic factors that could impact hiring demand in the months ahead, the positive trend in new search assignments year over year is encouraging, and has continued through today, positioning us well for our second quarter."
Beck continued: "We continue to remain focused on adaptability and delivering exceptional client outcomes, and we're excited to announce new partner additions in the coming months. Our ability to offer integrated talent solutions through Caldwell and IQTalent provides a compelling value proposition in the market. By aligning our services and investing in technology-driven solutions, we are able to support our clients' hiring needs at all levels and drive sustainable growth."
The Board of Directors today also declared a dividend of 0.25 cents per Common Share (one-quarter of a cent per Common Share), payable to holders of Common Shares of record on January 20, 2025, to be paid on March 14, 2025.
About Caldwell Partners
Caldwell Partners is a technology-powered talent acquisition firm specializing in recruitment at all levels. Through two distinct brands - Caldwell and IQTalent - the firm leverages the latest innovations in AI to offer an integrated spectrum of services delivered by teams with deep knowledge in their respective areas. Services include candidate research and sourcing through to full recruitment at the professional, executive and board levels, as well as a suite of talent strategy and assessment tools that can help clients hire the right people, then manage and inspire them to achieve maximum business results.
Caldwell Partners' common shares are listed on The Toronto Stock Exchange (TSX: CWL) and trade on the OTCQX Market (OTCQX: CWLPF). Please visit our website at www.caldwell.com for further information.
Adjusted Earnings Per Share (EPS)
The table below reconciles adjusted EPS, which is a non-GAAP financial measure, to our reported net earnings after tax. Restructuring income was $nil for the first quarter of fiscal 2025. As a result, adjusted EPS was the same as reported EPS for this period.
| Three months ended | |||
|
|
| 11.30.23 |
|
Net earnings after tax (reported) |
| $ | 3,778 |
|
Less: After-tax restructuring income1 |
| $ | 5,072 |
|
Adjusted loss |
| $ | (1,294 | ) |
Weighted average number of common shares outstanding |
|
| 29,558,932 |
|
Basic loss per share adjusted for restructuring income |
| $ | (0.044 | ) |
|
|
|
|
|
Calculated by applying IQTalent's fiscal 2024 effective tax rate of
36.4% to pre-tax restructuring income of$7,979 :Restructuring income
$7,979 Less: Tax at
36.4% $2,907 After-tax restructuring income
$5,072
Forward-Looking Statements
Forward-looking statements in this document are based on current expectations subject to the significant risks and uncertainties cited. These forward-looking statements generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "may," "will," "likely," "estimates," "potential," "continue" or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements.
We are subject to many factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statement including, but not limited to, the impact of pandemic diseases, our ability to attract and retain key personnel; exposure to our partners taking our clients with them to another firm; the performance of the US, Canadian and international economies; risks related to deposit-taking institutions; foreign currency exchange rate fluctuations; competition from other companies directly or indirectly engaged in talent acquisition; cybersecurity requirements, vulnerabilities, threats and attacks; damage to our brand reputation; our ability to align our cost structure to changes in our revenue; liability risk in the services we perform; potential legal liability from clients, employees and candidates for employment; reliance on software that we license from third parties; reliance on third-party contractors for talent acquisition support; the classification of third-party labour as contractors versus employee relationships; our ability to successfully recover from a disaster or other business continuity issues; adverse governmental and tax law rulings; successfully integrating or realizing the expected benefits from our acquisitions, adverse operating issues from acquired businesses; volatility of the market price and trading volume of our common shares; technological advances may significantly disrupt the labour market and weaken demand for human capital at a rapid rate; affiliation agreements may fail to renew or affiliates may be acquired; the impact on profitability from marketable securities valuation fluctuations; increasing dependence on third parties for the execution of critical functions; our ability to generate sufficient cash flow from operations to support our growth and fund any dividends; potential impairment of our acquired goodwill and intangible assets; and disruption as a result of actions of certain stockholders or potential acquirers of the Company. For more information on the factors that could affect the outcome of forward-looking statements, refer to the "Risk Factors" section of our Annual Information Form and other public filings (copies of which may be obtained at www.sedar.com). These factors should be considered carefully, and the reader should not place undue reliance on forward-looking statements. Although any forward-looking statements are based on what management currently believes to be reasonable assumptions, we cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements. Management's assumptions may prove to be incorrect. Except as required by Canadian securities laws, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. The forward-looking statements included herein are expressly qualified in their entirety by this cautionary language.
For further information, please contact:
Investors:
Shreya Lathia, Vice President and Chief Financial Officer
slathia@caldwell.com
+1 (416) 934-2241
Media:
Caroline Lomot, Vice President, Marketing & Communications
clomot@caldwell.com
+1 (516) 830-3535
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
(unadited - in |
|
|
|
|
|
| ||
|
| As at |
|
| As at |
| ||
|
| November 30 |
|
| August 31 |
| ||
|
| 2024 |
|
| 2024 |
| ||
Assets |
|
|
|
|
|
| ||
Current assets |
|
|
|
|
|
| ||
Cash and cash equivalents |
|
| 13,721 |
|
|
| 19,634 |
|
Accounts receivable |
|
| 14,014 |
|
|
| 12,664 |
|
Income taxes receivable |
|
| 250 |
|
|
| 177 |
|
Unbilled revenue |
|
| 6,275 |
|
|
| 5,859 |
|
Prepaid expenses and other assets |
|
| 1,671 |
|
|
| 2,327 |
|
|
| 35,931 |
|
|
| 40,661 |
| |
Non-current assets |
|
|
|
|
|
|
|
|
Prepaid expenses and other assets |
|
| 286 |
|
|
| 276 |
|
Investments |
|
| 1,718 |
|
|
| 1,682 |
|
Advances |
|
| 742 |
|
|
| 904 |
|
Deferred income taxes |
|
| 7,247 |
|
|
| 6,851 |
|
Property and equipment |
|
| 1,666 |
|
|
| 1,698 |
|
Right-of-use assets |
|
| 5,186 |
|
|
| 5,406 |
|
Intangible assets |
|
| 77 |
|
|
| 88 |
|
Goodwill |
|
| 11,540 |
|
|
| 11,186 |
|
Total assets |
|
| 64,393 |
|
|
| 68,752 |
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
Accounts payable |
|
| 2,950 |
|
|
| 3,409 |
|
Dividend payable |
|
| 73 |
|
|
| - |
|
Compensation payable |
|
| 21,057 |
|
|
| 26,023 |
|
Lease liability |
|
| 1,623 |
|
|
| 1,644 |
|
|
|
| 25,703 |
|
|
| 31,076 |
|
Non-current liabilities |
|
|
|
|
|
|
|
|
Compensation payable |
|
| 818 |
|
|
| 692 |
|
Lease liability |
|
| 4,669 |
|
|
| 4,858 |
|
|
| 31,190 |
|
|
| 36,626 |
| |
Equity attributable to owners of the Company |
|
|
|
|
|
|
|
|
Share capital |
|
| 15,392 |
|
|
| 15,392 |
|
Contributed surplus |
|
| 15,606 |
|
|
| 15,541 |
|
Accumulated other comprehensive income |
|
| 2,422 |
|
|
| 1,802 |
|
Deficit |
|
| (217 | ) |
|
| (609 | ) |
Total equity |
|
| 33,203 |
|
|
| 32,126 |
|
Total liabilities and equity |
|
| 64,393 |
|
|
| 68,752 |
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED INTERIM STATEMENTS OF EARNINGS
Three months ended |
| ||||||
| November 30, |
| |||||
(unaudited - in | 2024 |
|
| 2023 |
| ||
|
|
|
|
|
| ||
Revenues |
|
|
|
|
| ||
Professional fees |
| 21,155 |
|
|
| 17,336 |
|
Direct expense reimbursements |
| 205 |
|
|
| 199 |
|
| 21,360 |
|
|
| 17,535 |
| |
|
|
|
|
|
|
| |
Cost of sales expenses |
|
|
|
|
|
|
|
Cost of sales |
| 16,943 |
|
|
| 15,044 |
|
Reimbursed direct expenses |
| 205 |
|
|
| 199 |
|
| 17,148 |
|
|
| 15,243 |
| |
Gross profit |
| 4,212 |
|
|
| 2,292 |
|
|
|
|
|
|
|
| |
Selling, general and administrative |
| 4,193 |
|
|
| 4,522 |
|
Restructuring and other (income) expense |
| - |
|
|
| (7,979 | ) |
|
| 4,193 |
|
|
| (3,457 | ) |
|
|
|
|
|
|
|
|
Operating profit |
| 19 |
|
|
| 5,749 |
|
|
|
|
|
|
|
| |
Finance expenses (income) |
|
|
|
|
|
|
|
Interest expense on lease liability |
| 101 |
|
|
| 397 |
|
Investment (income) expense |
| (121 | ) |
|
| 10 |
|
Foreign exchange (income) loss |
| (466 | ) |
|
| 5 |
|
Earnings before income tax |
| 505 |
|
|
| 5,337 |
|
|
|
|
|
|
|
| |
Income tax expense |
| 40 |
|
|
| 1,559 |
|
Net earnings for the period attributable to owners of the Company |
| 465 |
|
|
| 3,778 |
|
|
|
|
|
|
|
| |
Earnings per share |
|
|
|
|
|
|
|
Basic and diluted | $ | 0.016 |
|
| $ | 0.128 |
|
CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE EARNINGS |
|
|
|
|
| ||
(unaudited - in |
|
|
|
|
| ||
| Three months ended |
| |||||
| November 30, |
| |||||
| 2024 |
|
| 2023 |
| ||
|
|
|
|
|
| ||
Net earnings for the period |
| 465 |
|
|
| 3,778 |
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
Items that may be reclassified subsequently to net earnings |
|
|
|
|
|
|
|
Gain on marketable securities |
| 1 |
|
|
| 5 |
|
Cumulative translation adjustment |
| 619 |
|
|
| 3 |
|
Comprehensive earnings for the period attributable to owners of the Company |
| 1,085 |
|
|
| 3,786 |
|
CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY
(unaudited - in | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| Accumulated Other Comprehensive |
|
|
|
| |||||||||
|
|
|
|
|
|
|
|
|
| Income (Loss) |
|
|
|
| |||||||||
| Retained Earnings/ |
|
| Share Capital |
|
| Contributed |
|
| Cumulative |
|
| Gain on |
|
| Total |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Balance - August 31, 2023 |
| (4,797 | ) |
|
| 15,392 |
|
|
| 15,282 |
|
|
| 1,886 |
|
|
| (39 | ) |
|
| 27,724 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings for the three months ended November 30, 2023 |
| 3,778 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 3,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based payment expense (note 15) |
| - |
|
|
| - |
|
|
| 66 |
|
|
| - |
|
|
| - |
|
|
| 66 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain on marketable securities available for sale (note 4) |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 5 |
|
|
| 5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in cumulative translation adjustment |
| - |
|
|
| - |
|
|
| - |
|
|
| 3 |
|
|
| - |
|
|
| 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance - November 30, 2023 |
| (1,019 | ) |
|
| 15,392 |
|
|
| 15,348 |
|
|
| 1,889 |
|
|
| (34 | ) |
|
| 31,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance - August 31, 2024 |
| (609 | ) |
|
| 15,392 |
|
|
| 15,541 |
|
|
| 1,806 |
|
|
| (4 | ) |
|
| 32,126 |
|
Net earnings for the three months ended November 30, 2024 |
| 465 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 465 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based payment expense (note 15) |
| - |
|
|
| - |
|
|
| 65 |
|
|
| - |
|
|
| - |
|
|
| 65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend payments declared (note 15) |
| (73 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (73 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain on marketable securities available for sale (note 4) |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 1 |
|
|
| 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in cumulative translation adjustment |
| - |
|
|
| - |
|
|
| - |
|
|
| 619 |
|
|
| - |
|
|
| 619 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance - November 30, 2024 |
| (217 | ) |
|
| 15,392 |
|
|
| 15,606 |
|
|
| 2,425 |
|
|
| (3 | ) |
|
| 33,203 |
|
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOW
(unaudited - in |
|
|
|
|
| ||
| Three months ended |
| |||||
2024 |
|
| 2023 |
| |||
|
|
|
|
|
| ||
Cash flow provided by (used in) |
|
|
|
|
| ||
|
|
|
|
|
| ||
Operating activities |
|
|
|
|
| ||
Net earnings for the period |
| 465 |
|
|
| 3,778 |
|
Add (deduct) items not affecting cash |
|
|
|
|
|
|
|
Depreciation of property and equipment |
| 106 |
|
|
| 92 |
|
Depreciation of right-of-use assets |
| 327 |
|
|
| 462 |
|
Amortization of intangible assets |
| 14 |
|
|
| 14 |
|
Amortization of advances |
| 154 |
|
|
| 124 |
|
Interest expense on lease liabilities |
| 101 |
|
|
| 397 |
|
Share based payment expense |
| 65 |
|
|
| 66 |
|
(Gain) loss on unrealized foreign exchange on subsidiary loans |
| (311 | ) |
|
| 3 |
|
Losses related to equity accounted associate |
| 28 |
|
|
| 131 |
|
Net gain on lease modification |
| - |
|
|
| (7,741 | ) |
Changes in working capital |
| (7,122 | ) |
|
| (2,386 | ) |
Net cash used in operating activities |
| (6,173 | ) |
|
| (5,060 | ) |
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
|
|
|
|
Purchase of property and equipment |
| (46 | ) |
|
| (40 | ) |
Payment of advances |
| (240 | ) |
|
| (21 | ) |
Repayment of advances |
| 859 |
|
|
| - |
|
Purchase of marketable securities |
| - |
|
|
| (64 | ) |
Net cash provided by (used in) investing activities |
| 573 |
|
|
| (125 | ) |
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
|
Payment of lease liabilities |
| (432 | ) |
|
| (559 | ) |
Sublease payments received |
| - |
|
|
| 16 |
|
Net cash used in financing activities |
| (432 | ) |
|
| (543 | ) |
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
| 119 |
|
|
| (15 | ) |
Net decrease in cash and cash equivalents |
| (5,913 | ) |
|
| (5,743 | ) |
Cash and cash equivalents, beginning of year |
| 19,634 |
|
|
| 22,053 |
|
Cash and cash equivalents, end of period |
| 13,721 |
|
|
| 16,310 |
|
SOURCE: Caldwell Partners International, Inc.
View the original press release on accesswire.com
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