Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Aston Hill announces first quarter results

CALGARY, May 7, 2013 /CNW/ - Aston Hill Financial Inc. ("Aston Hill" or the "Company") (TSX:AHF) announces it has filed its unaudited interim Consolidated Financial Statements for the period ended March 31, 2013 and related Management Discussion and Analysis with Canadian securities regulatory authorities.

For the period ended March 31, 2013, Aston Hill's revenues were $7.3 million, an increase of 18% from March 31, 2012 revenue of $6.2 million.  The revenue increase was due mainly to the continued growth and performance of the Aston Hill mutual funds and additional overhead recoveries from the services agreement with Argent Energy Trust.  Aston Hill Assets under Management, Administration and Advisory ("AUM") increased 15% year-over-year from $5.9 billion to $6.8 billion at March 31, 2013. The rise in AUM is mainly the result of new mutual fund subscriptions, Argent acquisitions later in 2012 and the continued increase in the IA Clarington sub-advised funds.

General and administrative expenses were $4.5 million for the first three months of 2013 as compared to $4.7 million for the prior quarter.  EBITDA for the three months ended March 31, 2013 was $2.4 million before stock-based compensation ($2.0 million after stock-based compensation) up from the prior year amount of $2.1 million before stock-based compensation ($1.5 million after stock-based compensation). The year-over-year EBITDA increase is a result of revenue increases from the Company's investment management services and products offset by increased compensation, office, marketing and product development costs related to the growth of Aston Hill's mutual funds. The first quarter EBITDA of $2.0 million represents a notable increase from the fourth quarter of 2012 EBITDA of $371,000 due to increased revenues and net gains on investments and decreases in G&A expenses and product development costs.

Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. The Company is also engaged in the administration of Argent Energy Trust (TSX: AET.UN).  Aston Hill Financial has offices in Calgary, Toronto and Halifax.

The TSX has neither approved nor disapproved the information contained herein.

1. EBITDA: EBITDA is not a standardized earnings measure prescribed

     by IFRS; however, management believes that most of its
     shareholders, creditors, other stakeholders and investment
     analysts prefer to use this performance measure in analyzing Aston
     Hill's results.

  2. Forward-Looking Statements: This news release contains certain
     "forward-looking statements" within the meaning of such statements
     under applicable securities law. Forward-looking statements are
     frequently characterized by words such as "plan", "continue",
     "expect", "project", "intend", "believe", "anticipate",
     "estimate", "may", "will", "potential", "proposed" and other
     similar words, or statements that certain events or conditions
     "may" or "will" occur. These statements are only predictions.
     Various assumptions were used in drawing the conclusions or making
     the projections contained in the forward-looking statements
     throughout this news release.  Forward-looking statements are
     based on the opinions and estimates of management at the date the
     statements are made, and are subject to a variety of risks and
     uncertainties and other factors that could cause actual events or
     results to differ materially from those projected in the
     forward-looking statements.

For a detailed description of the risks and uncertainties facing the Company 
and its business and affairs, readers should refer to the Company's annual 
financial statements and management discussion and analysis for the year ended 
December 31, 2012, both of which are available at  The Company 
undertakes no obligation to update forward-looking statements if circumstances 
or management's estimates or opinions should change, unless required by law. 
The reader is cautioned not to place undue reliance on forward-looking 

concerning this press release, please contact:

Eric Tremblay     Chief Executive Officer Aston Hill Financial Inc. (403) 

Larry Titley Vice President and CFO Aston Hill Financial Inc. (403) 770-4808

SOURCE: Aston Hill Financial Inc.

To view this news release in HTML formatting, please use the following URL:

CO: Aston Hill Asset Management Inc.
ST: Alberta

-0- May/07/2013 21:35 GMT

Sponsored Links
Sponsored Links