Wednesday, March 28, 2012

JFC - <span class="simulate_din_font">Jaguar Financial Declares Cash Dividend; Reports Results for Fourth Quarter of Fiscal 2011 and Fiscal 2011</span> (CAD 0.0006)

Company: Jaguar Financialcorp.
Stock Name: JFC
Amount: CAD 0.0006
Announcement Date: 28/03/2012
Record Date: 05/04/2012

Dividend Detail:




TORONTO, March 28, 2012 /CNW/ - Jaguar Financial Corporation ("Jaguar"
or the "Company") today announced that its Board of Directors has
approved a dividend of $0.00055 per share on its common shares, payable
April 24, 2012, to shareholders of record at the close of business on
April 10, 2012.



The Company also reported results for its fourth quarter ended December
31, 2011
, of its 2011 fiscal year.�� For the three months ended December
31, 2011
, the Company reported income of $360,465 compared to income of
$295,213 in the fourth quarter of 2010.



For the three months ended December 31, 2011, the Company generated a
net gain on investments of $1,295,684, of which $1,153,850 was
realized, compared to a net loss on investments of $581,536 in the
fourth quarter of 2010.�� The Company's investment portfolio is
classified as held for trading and recorded on a fair value basis and
will experience, at various times, unrealized gains or losses based on
equity market conditions.



For the year ended December 31, 2011, the Company reported a net loss of
$3,418,651 compared to net income of $2,592,551 in 2010.



Jaguar had cash and investments of $9,983,820 as at December 31, 2011.



About Jaguar



Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors.



The securities of Jaguar Financial Corporation are listed on the TSX
under the symbol "JFC".



The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may
contain certain forward looking statements which involve known and
unknown risks, delays, and uncertainties not under Jaguar's control
which may cause actual results, performances or achievements of Jaguar
to be materially different from those implied by such forward looking
statements.



For further information:

Vic Alboini, Chairman and Chief Executive Officer
416 644-8110

- or -

Kyler Wells, General Counsel & Corporate Secretary
416 644-8177









AFP.UN - <span class="simulate_din_font">AGF Management Limited Declares Dividend</span> (CAD 0.27)

Company: Agf Master Un
Stock Name: AFP.UN
Amount: CAD 0.27
Announcement Date: 28/03/2012
Record Date: 05/04/2012

Dividend Detail:




TORONTO, March 28, 2012 /CNW/ - On March 27, 2012, the Board of
Directors of AGF Management Limited declared a dividend of $0.27 per
share on both the Class B Non-Voting shares and the Class A Voting
common shares of the company. This dividend will be payable on April
20, 2012
to shareholders of record on April 10, 2012.



About AGF Management Limited



AGF Management Limited is one of Canada's premier independent investment
management firms with offices across Canada and subsidiaries around the
world. AGF's products include a diversified family of award-winning
mutual funds, mutual fund wrap programs and pooled funds. AGF also
manages assets on behalf of institutional investors including pension
plans, foundations and endowments as well as for private clients. In
addition, AGF Trust is a complementary business that offers GICs, loans
and mortgages through the financial advisor and mortgage broker
channels. With approximately $48 billion in total assets under
management, AGF serves more than one million investors. AGF trades on
the Toronto Stock Exchange under the symbol AGF.B.



For further information:

AGF Management Limited shareholders, analysts and media, please contact:

Robert J. Bogart, CPA
Executive Vice-President and Chief Financial Officer
416-865-4264,��bob.bogart@agf.com

Michael Clabby
Vice-President, Investor Relations and Corporate Development
416-815-6275,��michael.clabby@agf.com









JFC - <span class="simulate_din_font">Jaguar Financial Declares Cash Dividend; Reports Results for Fourth Quarter of Fiscal 2011 and Fiscal 2011</span> (CAD 0.0006)

Company: Jaguar Financialcorp.
Stock Name: JFC
Amount: CAD 0.0006
Announcement Date: 28/03/2012
Record Date: 05/04/2012

Dividend Detail:




TORONTO, March 28, 2012 /CNW/ - Jaguar Financial Corporation ("Jaguar"
or the "Company") today announced that its Board of Directors has
approved a dividend of $0.00055 per share on its common shares, payable
April 24, 2012, to shareholders of record at the close of business on
April 10, 2012.



The Company also reported results for its fourth quarter ended December
31, 2011
, of its 2011 fiscal year.�� For the three months ended December
31, 2011
, the Company reported income of $360,465 compared to income of
$295,213 in the fourth quarter of 2010.



For the three months ended December 31, 2011, the Company generated a
net gain on investments of $1,295,684, of which $1,153,850 was
realized, compared to a net loss on investments of $581,536 in the
fourth quarter of 2010.�� The Company's investment portfolio is
classified as held for trading and recorded on a fair value basis and
will experience, at various times, unrealized gains or losses based on
equity market conditions.



For the year ended December 31, 2011, the Company reported a net loss of
$3,418,651 compared to net income of $2,592,551 in 2010.



Jaguar had cash and investments of $9,983,820 as at December 31, 2011.



About Jaguar



Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors.



The securities of Jaguar Financial Corporation are listed on the TSX
under the symbol "JFC".



The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may
contain certain forward looking statements which involve known and
unknown risks, delays, and uncertainties not under Jaguar's control
which may cause actual results, performances or achievements of Jaguar
to be materially different from those implied by such forward looking
statements.



For further information:

Vic Alboini, Chairman and Chief Executive Officer
416 644-8110

- or -

Kyler Wells, General Counsel & Corporate Secretary
416 644-8177









Tuesday, March 27, 2012

AFP.UN - <span class="simulate_din_font">AGF Management Limited Declares Dividend</span> (CAD 0.27)

Company: Agf Master Un
Stock Name: AFP.UN
Amount: CAD 0.27
Announcement Date: 28/03/2012
Record Date: 05/04/2012

Dividend Detail:




TORONTO, March 28, 2012 /CNW/ - On March 27, 2012, the Board of
Directors of AGF Management Limited declared a dividend of $0.27 per
share on both the Class B Non-Voting shares and the Class A Voting
common shares of the company. This dividend will be payable on April
20, 2012
to shareholders of record on April 10, 2012.



About AGF Management Limited



AGF Management Limited is one of Canada's premier independent investment
management firms with offices across Canada and subsidiaries around the
world. AGF's products include a diversified family of award-winning
mutual funds, mutual fund wrap programs and pooled funds. AGF also
manages assets on behalf of institutional investors including pension
plans, foundations and endowments as well as for private clients. In
addition, AGF Trust is a complementary business that offers GICs, loans
and mortgages through the financial advisor and mortgage broker
channels. With approximately $48 billion in total assets under
management, AGF serves more than one million investors. AGF trades on
the Toronto Stock Exchange under the symbol AGF.B.



For further information:

AGF Management Limited shareholders, analysts and media, please contact:

Robert J. Bogart, CPA
Executive Vice-President and Chief Financial Officer
416-865-4264,��bob.bogart@agf.com

Michael Clabby
Vice-President, Investor Relations and Corporate Development
416-815-6275,��michael.clabby@agf.com









CHL.A - <span class="simulate_din_font">Canadian Helicopters Group Inc. declares monthly dividends</span> (CAD 0.0919)

Company: Canadian Helicopters Group Inc. A
Stock Name: CHL.A
Amount: CAD 0.0919
Announcement Date: 27/03/2012
Record Date: 26/04/2012

Dividend Detail:




MONTREAL, March 27, 2012 /CNW Telbec/ - Canadian Helicopters Group Inc.
("Canadian Helicopters") (TSX: CHL.A CHL.B) announced today that its
Board of Directors has declared monthly dividends of $0.091875 per
Common Share and Variable Voting Shares, payable on each of May 15,
2012
, June 15, 2012 and July 13, 2012 to holders of record at the close
of business April 30, 2012, May 31, 2012 and June 29, 2012,
respectively.



The foregoing dividends are designated as "eligible" dividends for the
purposes of the Income Tax Act (Canada) and any similar provincial legislation.



Canadian Helicopters' Board of Directors reviews the applicable dividend
rates on a quarterly basis. Shareholders are entitled to receive
dividends only when any such dividends are declared by Canadian
Helicopters' Board of Directors, and there is no entitlement to any
dividend prior thereto.



ABOUT CANADIAN HELICOPTERS GROUP INC.



Canadian Helicopters Group is an international provider of helicopter
transportation and related support services with fixed primary
operations in Canada, Australia, New Zealand and regions of Southeast
Asia. The group also delivers contracted on demand support in
Afghanistan and Antarctica. Charter operations are provided under two
brands: Helicopters New Zealand (HNZ) in the Asia Pacific and
Antarctica regions and Canadian Helicopters Limited (CHL) in Canada and
Afghanistan. In addition to charter services, the Company provides
flight training and third party repair and maintenance services. With
headquarters near Montreal, Canada, the Company operates approximately
160 helicopters and employs approximately 800 personnel.��



For further information:

Canadian Helicopters Group Inc.
Don Wall
President and Chief Executive Officer
Tel.: 780-429-6919
Tel.: 450-452-3007









SII - <span class="simulate_din_font">Sprott Inc. declares fourth quarter 2011 dividend</span> (CAD 0.03)

Company: Sprott Inc.
Stock Name: SII
Amount: CAD 0.03
Announcement Date: 27/03/2012
Record Date: 03/04/2012

Dividend Detail:




TORONTO, March 27, 2012 /CNW/ - Sprott Inc. (TSX:SII) today declared an
eligible dividend of $0.03 per common share for the quarter ended
December 31, 2011, payable on April 20, 2012 to shareholders of record
at the close of business on April 5, 2012.



About Sprott Inc.



Sprott Inc. is a leading independent asset manager dedicated to
achieving superior returns for its clients over the long term. Sprott
Inc. currently operates through four business units: Sprott Asset
Management LP, Sprott Private Wealth LP, Sprott Consulting LP, and
Sprott U.S. Holdings Inc.�� Sprott Asset Management is the investment
manager of the Sprott family of mutual funds and hedge funds and
discretionary managed accounts; Sprott Private Wealth provides wealth
management services to high net worth individuals; and Sprott
Consulting provides management, administrative and consulting services
to other companies, including Sprott Resource Corp. (TSX:SCP), Sprott
Resource Lending Corp. (TSX:SIL) (NYSE AMEX:SILU) and Sprott Power
Corp. (TSX:SPZ). Sprott U.S. Holdings Inc. includes Global Resource
Investments Ltd, Sprott Asset Management USA Inc. and Resource Capital
Investments Inc. Sprott Inc. is headquartered in Toronto, Canada, and
its common shares are listed on the Toronto Stock Exchange under the
symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.



For further information:

Investor contact information: (416) 203-2310 or 1 (877) 403-2310 or��ir@sprott.com.









CHL.A - <span class="simulate_din_font">Canadian Helicopters Group Inc. declares monthly dividends</span> (CAD 0.0919)

Company: Canadian Helicopters Group Inc. A
Stock Name: CHL.A
Amount: CAD 0.0919
Announcement Date: 27/03/2012
Record Date: 26/04/2012

Dividend Detail:




MONTREAL, March 27, 2012 /CNW Telbec/ - Canadian Helicopters Group Inc.
("Canadian Helicopters") (TSX: CHL.A CHL.B) announced today that its
Board of Directors has declared monthly dividends of $0.091875 per
Common Share and Variable Voting Shares, payable on each of May 15,
2012
, June 15, 2012 and July 13, 2012 to holders of record at the close
of business April 30, 2012, May 31, 2012 and June 29, 2012,
respectively.



The foregoing dividends are designated as "eligible" dividends for the
purposes of the Income Tax Act (Canada) and any similar provincial legislation.



Canadian Helicopters' Board of Directors reviews the applicable dividend
rates on a quarterly basis. Shareholders are entitled to receive
dividends only when any such dividends are declared by Canadian
Helicopters' Board of Directors, and there is no entitlement to any
dividend prior thereto.



ABOUT CANADIAN HELICOPTERS GROUP INC.



Canadian Helicopters Group is an international provider of helicopter
transportation and related support services with fixed primary
operations in Canada, Australia, New Zealand and regions of Southeast
Asia. The group also delivers contracted on demand support in
Afghanistan and Antarctica. Charter operations are provided under two
brands: Helicopters New Zealand (HNZ) in the Asia Pacific and
Antarctica regions and Canadian Helicopters Limited (CHL) in Canada and
Afghanistan. In addition to charter services, the Company provides
flight training and third party repair and maintenance services. With
headquarters near Montreal, Canada, the Company operates approximately
160 helicopters and employs approximately 800 personnel.��



For further information:

Canadian Helicopters Group Inc.
Don Wall
President and Chief Executive Officer
Tel.: 780-429-6919
Tel.: 450-452-3007









Monday, March 26, 2012

SII - <span class="simulate_din_font">Sprott Inc. declares fourth quarter 2011 dividend</span> (CAD 0.03)

Company: Sprott Inc.
Stock Name: SII
Amount: CAD 0.03
Announcement Date: 27/03/2012
Record Date: 03/04/2012

Dividend Detail:




TORONTO, March 27, 2012 /CNW/ - Sprott Inc. (TSX:SII) today declared an
eligible dividend of $0.03 per common share for the quarter ended
December 31, 2011, payable on April 20, 2012 to shareholders of record
at the close of business on April 5, 2012.



About Sprott Inc.



Sprott Inc. is a leading independent asset manager dedicated to
achieving superior returns for its clients over the long term. Sprott
Inc. currently operates through four business units: Sprott Asset
Management LP, Sprott Private Wealth LP, Sprott Consulting LP, and
Sprott U.S. Holdings Inc.�� Sprott Asset Management is the investment
manager of the Sprott family of mutual funds and hedge funds and
discretionary managed accounts; Sprott Private Wealth provides wealth
management services to high net worth individuals; and Sprott
Consulting provides management, administrative and consulting services
to other companies, including Sprott Resource Corp. (TSX:SCP), Sprott
Resource Lending Corp. (TSX:SIL) (NYSE AMEX:SILU) and Sprott Power
Corp. (TSX:SPZ). Sprott U.S. Holdings Inc. includes Global Resource
Investments Ltd, Sprott Asset Management USA Inc. and Resource Capital
Investments Inc. Sprott Inc. is headquartered in Toronto, Canada, and
its common shares are listed on the Toronto Stock Exchange under the
symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.



For further information:

Investor contact information: (416) 203-2310 or 1 (877) 403-2310 or��ir@sprott.com.









SPZ - <span class="simulate_din_font">Sprott Power Corp. Announces Quarterly Dividend</span> (CAD 0.01)

Company: Sprott Power Corp
Stock Name: SPZ
Amount: CAD 0.01
Announcement Date: 26/03/2012
Record Date: 02/04/2012

Dividend Detail:




TORONTO, March 26, 2012 /CNW/ - Sprott Power Corp. (TSX:SPZ), a
developer, owner and operator of renewable energy projects, today
announced that its Board of Directors has approved the payment of a
quarterly cash dividend of $0.01 per share payable on April 16, 2012 to
shareholders of record as of the close of business on April 4, 2012.



Sprott Power's Board of Directors will review the dividend policy from
time to time taking into consideration the Company's cash flow,
earnings, working capital requirements, financial position and other
relevant factors.



About Sprott Power Corp.



Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company
dedicated to the development, owning and operating of renewable energy
projects. Through project development efforts, acquisitions,
partnerships and joint ventures, Sprott Power provides its shareholders
with income and growth from the renewable power generation sector of
the energy industry.



Forward-Looking Statements



Certain information contained in this press release may constitute
"forward-looking information" which reflects the current expectations
of Sprott Power. This information reflects Sprott Power's current
beliefs with respect to future events and are based on information
currently available to management. Forward-looking information involves
significant known and unknown risks, uncertainties and assumptions.
Many factors could cause actual results, performance or achievements to
be materially different from any future results, performance or
achievements that may be expressed or implied by such forward-looking
information including, without limitation, the risks listed under the
heading "Risk and Uncertainties" in the Management Discussion and
Analysis of Financial Results dated June 13, 2011.�� Should one or more
of these risks or uncertainties materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual
results, performance or achievements could vary materially from those
expressed or implied by the forward-looking information contained in
this release. Although forward-looking information contained in this
release is based upon what Sprott Power believes to be reasonable
assumptions, management cannot assure investors that actual results,
performance or achievements will be consistent with this
forward-looking information. The forward-looking information is made as
of the date of this release and Sprott Power does not assume any
obligation to update or revise it to reflect new events or
circumstances, except as required by law.��



For further information:

Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
416-943-6387
jjenner@sprottpower.com

Babak Pedram
Investor Relations
The Equicom Group
416-815-0700 ext. 264
bpedram@equicomgroup.com









GNV - <span class="simulate_din_font">GENIVAR reports fourth quarter and year 2011 results and declares a dividend of $0.375 per share</span> (CAD 0.375)

Company: Genivar Inc
Stock Name: GNV
Amount: CAD 0.375
Announcement Date: 26/03/2012
Record Date: 29/03/2012

Dividend Detail:




MONTREAL, March 26, 2012 /CNW Telbec/ - GENIVAR Inc. (TSX: GNV)
("GENIVAR" or the "Company"), formerly GENIVAR Income Fund (the
"Fund"), today announced its financial and operating results for the
fourth quarter and year-end 2011, under the International Financial
Reporting Standards ("IFRS"). The fourth quarter results cover the
period from October 2, 2011, to December 31, 2011.



FOURTH QUARTER 2011 HIGHLIGHTS




  • Total revenues were $172.0��million compared to $154.7 million in 2010,
    an increase of 11.2%. Net revenues, expressed as revenues less direct
    costs for subconsultants and other direct expenses that are recoverable
    directly from the clients, amounted to $132.7��million, representing an
    11.9% increase as compared to 2010.






  • EBITDA stood at $21.5��million, as compared to $19.3��million in 2010. As
    a percentage of net revenues, the EBITDA margin stood at 16.2% for
    2011, compared to 16.3% for 2010.






  • Net earnings amounted to $9.9��million or $0.37 per share.






  • The backlog stood at $409.6��million compared to a backlog of
    $419.3��million at the end of the third quarter of 2011 and represented
    approximately 7.5��months of revenues.






  • During the quarter, GENIVAR received support from Canada's two largest
    institutional investors, the Canada Pension Plan Investment Board
    ("CPPIB") and the Caisse de d��p��t et placement du Qu��bec (the
    "Caisse"), each of whom invested a gross amount of $79.9��million. This
    financing consisted in an equity private placement through the issuance
    of 6,500,000 common shares from treasury at a price of $24.57 per share
    for aggregate gross proceeds of $159.7��million. It will allow the
    Company to continue growing its Canadian business while moving forward
    on executing its international expansion plans.






  • During the quarter, GENIVAR further diversified its professional
    services offering by welcoming the entities collectively referred to as
    "Giroux," Quebec-based geomatics and surveying firms. The Company also
    acquired ISACtion Inc., a Quebec-based firm specialized in
    instrumentation control and automation systems. Finally, the firm also
    established its presence in all ten Canadian provinces through a
    transaction involving AE Consultants Ltd., based in Newfoundland and
    Labrador. These three transactions bring to 355 the number of new
    employees who joined GENIVAR through business acquisitions during the
    year 2011.






  • Shortly after the end of the quarter, GENIVAR laid the initial
    foundations of its international growth strategy through the
    acquisition of Consultores Regionales Asociados - CRA S.A.S. based in
    Colombia. This acquisition is in line with the Company's plans, which
    consist in developing a long-term local presence in Colombia and expand
    in the neighboring countries. GENIVAR also acquired Les Investissements
    R.J. Inc., a Quebec-based firm specialized in mechanical and electrical
    engineering, will enable GENIVAR to meet growing client demand in the
    Building sector. Furthermore, the Company diversified its services
    principally in the oil and gas sector in the Alberta region by
    welcoming GRB Engineering Ltd. ("GRB"). GRB complements the array of
    services already offered in this flourishing, dynamic and
    rich-in-opportunities industry. Finally, the Company reinforces its
    expertise in architecture with the acquisition of Smith Carter
    Architects and Engineers Inc. and of Smith Carter (USA) LLC, which are
    specialized in integrated architectural design and engineering. With
    this acquisition, GENIVAR reinforces its presence in Western Canada and
    integrates the United States market.








2011 YEAR HIGHLIGHTS




  • Total revenues were $651.9 million compared to $580.4 million in 2010,
    an increase of 12.3%. For the same period, net revenues amounted to
    $529.0 million, representing a 12.7% increase as compared to 2010.






  • EBITDA increased to $89.7��million, up from $83.5��million in 2010. As a
    percentage of net revenues, the EBITDA margin stood at 17.0% for 2011,
    compared to 17.8% for 2010.






  • Net earnings amounted to $50.1 million or $1.91 per share.



"I am pleased to report fiscal 2011 ended with a good quarter, that is
consistent with our year-to-date results and expectations," commented
Pierre Shoiry, President and Chief Executive Officer of GENIVAR. "This
past year saw GENIVAR strategically position its platform in
preparation for future growth. Throughout the year, we remained focused
on the fundamentals of our business and continued to strengthen our
presence in Canada and abroad. Additionally, we closed 10 transactions
and welcomed new solid and committed financial partners. As we progress
into 2012, we remain focused on driving growth, further cementing our
position as a leader in the field of professional services, while
enhancing execution to deliver sustained value creation," he added.



BOARD OF DIRECTORS

Ali Ettehadieh notified the Board of Directors of the Company that he
will not stand for re-election at the next annual meeting of
shareholders. Mr. Ettehadieh's term will expire effective upon
conclusion of the Company's 2012 annual meeting of shareholders, which
is scheduled to be held on May 26, 2012. Mr. Ettehadieh will continue
to hold the position of Executive Vice President of GENIVAR.



Commenting on this announcement on behalf of the Board, Richard
B��langer, Chairman, said "We greatly appreciate the energy and the
contribution Ali has made to the Board. We thank him for his
outstanding service and dedication for the past 6 years."



DIVIDEND

The Board of GENIVAR declared a dividend of $0.375 per share. This
dividend will be payable on or about April 15, 2012, to shareholders of
record at the close of business on March 31, 2012.



FINANCIAL REPORT

This release includes, by reference, the year 2011 financial reports,
including the audited consolidated financial statements and the
Management Discussion & Analysis ("MD&A") of the Company.



In 2011, GENIVAR reports its financial results in accordance with IFRS,
as required for public companies in Canada. Previously, the Company
prepared its financial results under Canadian Generally Accepted
Accounting Standards ("GAAP"). The comparative financial information
has been restated to reflect the adoption of IFRS, with effect from
January 1, 2010.



The Company has included reconciliations between IFRS and the amounts
previously reported under GAAP in its 2011 financial statements. For a
copy of our full financial results for the year 2011, including the
MD&A and the audited consolidated financial statements, please visit
our Website at www.genivar.com.



CONFERENCE CALL

GENIVAR will hold a conference call at 4 p.m. (Eastern Time) on March
26, 2012
, to discuss these results. The telephone numbers to access the
conference call are as follows:




  • Montreal and International, please dial 514-861-2909




  • Elsewhere in Canada and United States, please dial 877-695-6175






  • Conference number: 8284786



A presentation highlighting the results of the fourth quarter and year
2011 will be available on the same day in the Investor section of GENIVAR's Website (www.genivar.com), under Presentations and Events.



A replay of the call will be available until April 2, 2012. The
telephone numbers to access the replay of the call are 514-861-2272 or
800-408-3053, password 1421250. The replay of the conference call will
also be available in the Investor section of the Website under Presentations and Events, in the days following the event.






RESULTS OF OPERATIONS
















































































































































































































































































































































































��

��

��

��

��

Fourth quarter

��

Year

��

2011

��

2010

��

Variation

��

2011

��

2010

��

Variation

IN THOUSANDS OF DOLLARS EXCEPT PER SHARE/UNIT DATA AND PERCENTAGES

FOR THE PERIOD

FROM OCTOBER��2

TO DECEMBER��31

(UNAUDITED)

��

FOR THE PERIOD

FROM OCTOBER��3

TO DECEMBER��31

(UNAUDITED)

��

%

��

FOR THE PERIOD

FROM JANUARY 1

TO DECEMBER��31

(AUDITED*)

��

FOR THE PERIOD

FROM JANUARY 1

TO DECEMBER��31

(AUDITED*)

��

%

Revenues

$ 171,980

��

$ 154,706

��

11.2%

��

$ 651,885

��

$ 580,431

��

12.3%

Less: Subconsultants and other direct expenses

$ 39,299

��

$ 36,103

��

8.9%

��

$ 122,883

��

$ 110,932

��

10.8%

Net revenues**

$ 132,681

��

$ 118,603

��

11.9%

��

$ 529,002

��

$ 469,499

��

12.7%

Direct project costs

$ 68,371

��

$ 61,597

��

11.0%

��

$ 272,412

��

$ 238,537

��

14.2%

Gross margin

$ 64,310

��

$ 57,006

��

12.8%

��

$ 256,590

��

$ 230,962

��

11.1%

Marketing, general and administrative expenses(1)

$ 42,846

��

$ 37,673

��

13.7%

��

$ 166,901

��

$ 147,480

��

13.2%

EBITDA**

$ 21,464

��

$ 19,333

��

11.0%

��

$ 89,689

��

$ 83,482

��

7.4%

Amortization of intangible assets

$ 4,479

��

$ 4,864

��

(7.9%)

��

$ 17,311

��

$ 16,859

��

2.7%

Depreciation of property, plant and equipment

$ 2,389

��

$ 1,789

��

33.5%

��

$ 7,971

��

$ 6,312

��

26.3%

Financial expenses(2)

$ 1,003

��

$ 671

��

49.5%

��

$ 4,406

��

($ 2,367)

��

286.1%

Earnings before income taxes

$ 13,593

��

$ 12,009

��

13.2%

��

$ 60,001

��

$ 62,678

��

(4.3%)

Income tax expenses

$ 3,678

��

$ 9,313

��

(60.5%)

��

$ 9,945

��

$ 11,728

��

(15.2%)

Net earnings

$ 9,915

��

$ 2,696

��

267.8%

��

$ 50,056

��

$ 50,950

��

(1.8%)

Attributable to the:

��

��

��

��

��

��

��

��

��

��

��

��

- shareholders/unitholders

$ 9,911

��

($ 1,154)

��

958.8%

��

$ 50,052

��

$ 39,219

��

27.6%

��

- non-controlling interest

$ 4

��

$ 3,850

��

(99.9%)

��

$ 4

��

$ 11,731

��

(100.0%)

Basic net earnings per share/unit

$ 0.37

��

$ 0.15

��

146.7%

��

$ 1.91

��

$ 2.81

��

(32.0%)

Diluted net earnings per share/unit

$ 0.37

��

$ 0.15

��

146.7%

��

$ 1.91

��

$ 2.26

��

(15.5%)

Adjusted net earnings**

$ 9,915

��

$ 2,696

��

267.8%

��

$ 50,056

��

$ 47,100

��

6.3%

Adjusted net earnings per share/unit**

$ 0.37

��

$ 0.10

��

270.0%

��

$ 1.91

��

$ 1.73

��

10.4%

Weighted average number of shares/units

26,841,888

��

18,103,589

��

��

��

26,233,234

��

18,103,589

��

��

Diluted weighted average number of shares/units

26,841,888

��

18,103,589

��

��

��

26,233,234

��

21,752,567

��

��

Adjusted weighted average number of shares/units(3)

26,841,888

��

27,163,976

��

��

��

26,233,234

��

27,163,976

��

��























*��

Except for non-IFRS measures.

**��

Non-IFRS measures are described below.

(1)

The marketing, general and administrative expenses include the exchange
loss or gain and the interest revenues.


(2)

In 2011, the financial expenses only included the interest expenses. The
2010 financial expenses included the unrealized gain arising from
changes in fair value of financial liability related to LP Units of
$9,513, less the distributions on this financial liability of $5,663
and the interest expenses.


(3)

Adjusted weighted average number of shares/units represents the weighted
average number of shares/units receiving dividends/distributions.








FUNDS FROM OPERATIONS AND FREE CASH FLOW






























































































































��

��

��

��

��

Fourth quarter

��

Year

��

2011

��

2010

��

2011

��

2010

IN THOUSANDS OF DOLLARS

FOR THE PERIOD

FROM OCTOBER��2

TO DECEMBER��31

(UNAUDITED)

��

FOR THE PERIOD

FROM OCTOBER��3

TO DECEMBER��31

(UNAUDITED)

��

FOR THE PERIOD

FROM JANUARY��1

TO DECEMBER��31

(AUDITED*)

��

FOR THE PERIOD

FROM JANUARY��1

TO DECEMBER��31

(AUDITED*)

Cash flows from operating activities

$ 53,278

��

$ 35,750

��

$ 72,535

��

$ 61,762

Change in non-cash working capital items

($ 36,827)

��

($ 18,005)

��

($ 4,793)

��

$ 17,994

Funds from operations**

$ 16,451

��

$ 17,745

��

$ 67,742

��

$ 79,756

Funds from operations per share/unit**

$ 0.61

��

$ 0.65

��

$ 2.58

��

$ 2.94

Less:

��

��

��

��

��

��

��

Change in non-cash working capital items

$ 36,827

��

$ 18,005

��

$ 4,793

��

($ 17,994)

Capital expenditures

($ 5,814)

��

($ 3,171)

��

($ 12,228)

��

($ 12,664)

Free cash flow**

$ 47,464

��

$ 32,579

��

$ 60,307

��

$ 49,098

Free cash flow per share/unit**

$ 1.82

��

$ 1.20

��

$ 2.30

��

$ 1.81











*��

Except non-IFRS measures.

**��

Non-IFRS measures are described below.









NON-IFRS MEASURES

GENIVAR uses non-IFRS measures that are considered by Canadian companies
as indicators of financial performance measures which are not
recognized under IFRS and may differ from similar computations as
reported by other similar entities and, accordingly, may not be
comparable. GENIVAR believes these measures are useful supplemental
information that may assist investors in assessing an investment in
Company's shares.



Non-IFRS measures used by GENIVAR are net revenues, EBITDA, EBITDA per
share/unit, income tax expenses per share/unit, adjusted net earnings,
adjusted net earnings per share/unit, funds from operations, funds from
operations per share/unit, free cash flow, and free cash flow per
share/unit.



Net revenues

Net revenues are defined as revenues from consulting services less
direct costs for subconsultants and other direct expenses that are
recoverable directly from the clients. Net revenues is not an IFRS
measure and does not have a standardized definition within IFRS.
Therefore, net revenues may not be comparable to similar measures
presented by other issuers. Investors are warned that net revenues
should not be construed as an alternative to revenues for the year (as
determined in accordance with IFRS) as an indicator of GENIVAR's
performance.



EBITDA and EBITDA per share/unit

EBITDA is defined as earnings before financial expenses, income tax
expenses, depreciation and amortization. EBITDA is not an IFRS measure
and does not have a standardized definition within IFRS. Investors are
cautioned that EBITDA should not be considered an alternative to net
earnings for the year (as determined in accordance with IFRS) as an
indicator of GENIVAR's performance, or an alternative to cash flows
from operating, financing and investing activities as a measure of
GENIVAR's liquidity and cash flows. GENIVAR's method of calculating
EBITDA may differ from the methods used by other issuers and,
accordingly, GENIVAR's EBITDA may not be comparable to similar measures
used by other issuers.



EBITDA per share/unit is calculated using the weighted average number of
shares/units receiving dividends/distributions.



Income tax expenses per share/unit

Income tax expenses per share/unit is defined as the income tax expenses
on the diluted weighted average number of shares/units.



Adjusted net earnings and adjusted net earnings per share/unit

Adjusted net earnings is not an IFRS measure and is defined as net
earnings without the income and expenses of the financial liability
related to LP Units.



Adjusted net earnings per share/unit is calculated using the adjusted
net earnings divided by the weighted average number of shares/units
receiving dividends/distributions.



Funds from operations and funds from operations per share/unit

Funds from operations is not an IFRS measure. It provides Management and
investors with a proxy for the amount of cash generated from operating
activities before changes in non-cash working capital items.



Funds from operations per share/unit is calculated using the weighted
average number of shares/units receiving dividends/distributions.



Free cash flow and free cash flow per share/unit

Free cash flow is not an IFRS measure. It provides a consistent and
comparable measurement of free cash flow generated from operations
across entities and is used as an indicator of financial strength and
performance. Free cash flow is defined as cash flows from operating
activities, including operating cash flows provided from or used in
discontinued operations as reported in accordance with IFRS, less total
capital expenditures as reported in the financial statements.



Free cash flow per share/unit is calculated using the weighted average
number of shares/units receiving dividends/distributions.



ABOUT GENIVAR INC.

GENIVAR is a leading Canadian engineering company providing private and
public-sector clients with a full range of professional consulting
services throughout all project phases, including planning, design,
construction and maintenance. Ranging significantly in size, GENIVAR's
clients operate in various different market segments, including the
building, industrial, energy, municipal infrastructure, transportation
and environmental sectors. GENIVAR is one of the largest engineering
companies in Canada by number of employees, with more than 5,500
managers, professionals, technicians, technologists and support staff
in over 100 cities in Canada and internationally.

www.genivar.com



Forward-looking statements

Certain information regarding GENIVAR contained herein may constitute
forward-looking statements. Forward-looking statements may include
estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact. Although
GENIVAR believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to have been correct. These
statements are subject to certain risks and uncertainties and may be
based on assumptions that could cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. GENIVAR's forward-looking statements are expressly
qualified in their entirety by this cautionary statement. The complete
version of the cautionary note regarding forward-looking statements as
well as a description of the relevant assumptions and risk factors
likely to affect GENIVAR's actual or projected results are included in
the Management Discussion and Analysis for the fourth quarter and year
2011 ended December 31, 2011, which are available on SEDAR at
www.sedar.com. The forward-looking statements contained in this press release are
made as of the date hereof and GENIVAR does not assume any obligation
to update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise unless expressly
required by applicable securities laws.



��



��



��



For further information:

Alexandre L'Heureux
Chief Financial Officer
GENIVAR Inc.
Tel.: 514-340-0046, ext. 5310
alexandre.lheureux@genivar.com

Isabelle Adjahi
Director, Communications and Investor Relations
GENIVAR Inc.
Tel.: 514-340-0046, ext. 5648
isabelle.adjahi@genivar.com









SPZ - <span class="simulate_din_font">Sprott Power Corp. Announces Quarterly Dividend</span> (CAD 0.01)

Company: Sprott Power Corp
Stock Name: SPZ
Amount: CAD 0.01
Announcement Date: 26/03/2012
Record Date: 02/04/2012

Dividend Detail:




TORONTO, March 26, 2012 /CNW/ - Sprott Power Corp. (TSX:SPZ), a
developer, owner and operator of renewable energy projects, today
announced that its Board of Directors has approved the payment of a
quarterly cash dividend of $0.01 per share payable on April 16, 2012 to
shareholders of record as of the close of business on April 4, 2012.



Sprott Power's Board of Directors will review the dividend policy from
time to time taking into consideration the Company's cash flow,
earnings, working capital requirements, financial position and other
relevant factors.



About Sprott Power Corp.



Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company
dedicated to the development, owning and operating of renewable energy
projects. Through project development efforts, acquisitions,
partnerships and joint ventures, Sprott Power provides its shareholders
with income and growth from the renewable power generation sector of
the energy industry.



Forward-Looking Statements



Certain information contained in this press release may constitute
"forward-looking information" which reflects the current expectations
of Sprott Power. This information reflects Sprott Power's current
beliefs with respect to future events and are based on information
currently available to management. Forward-looking information involves
significant known and unknown risks, uncertainties and assumptions.
Many factors could cause actual results, performance or achievements to
be materially different from any future results, performance or
achievements that may be expressed or implied by such forward-looking
information including, without limitation, the risks listed under the
heading "Risk and Uncertainties" in the Management Discussion and
Analysis of Financial Results dated June 13, 2011.�� Should one or more
of these risks or uncertainties materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual
results, performance or achievements could vary materially from those
expressed or implied by the forward-looking information contained in
this release. Although forward-looking information contained in this
release is based upon what Sprott Power believes to be reasonable
assumptions, management cannot assure investors that actual results,
performance or achievements will be consistent with this
forward-looking information. The forward-looking information is made as
of the date of this release and Sprott Power does not assume any
obligation to update or revise it to reflect new events or
circumstances, except as required by law.��



For further information:

Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
416-943-6387
jjenner@sprottpower.com

Babak Pedram
Investor Relations
The Equicom Group
416-815-0700 ext. 264
bpedram@equicomgroup.com









Sunday, March 25, 2012

GNV - <span class="simulate_din_font">GENIVAR reports fourth quarter and year 2011 results and declares a dividend of $0.375 per share</span> (CAD 0.375)

Company: Genivar Inc
Stock Name: GNV
Amount: CAD 0.375
Announcement Date: 26/03/2012
Record Date: 29/03/2012

Dividend Detail:




MONTREAL, March 26, 2012 /CNW Telbec/ - GENIVAR Inc. (TSX: GNV)
("GENIVAR" or the "Company"), formerly GENIVAR Income Fund (the
"Fund"), today announced its financial and operating results for the
fourth quarter and year-end 2011, under the International Financial
Reporting Standards ("IFRS"). The fourth quarter results cover the
period from October 2, 2011, to December 31, 2011.



FOURTH QUARTER 2011 HIGHLIGHTS




  • Total revenues were $172.0��million compared to $154.7 million in 2010,
    an increase of 11.2%. Net revenues, expressed as revenues less direct
    costs for subconsultants and other direct expenses that are recoverable
    directly from the clients, amounted to $132.7��million, representing an
    11.9% increase as compared to 2010.






  • EBITDA stood at $21.5��million, as compared to $19.3��million in 2010. As
    a percentage of net revenues, the EBITDA margin stood at 16.2% for
    2011, compared to 16.3% for 2010.






  • Net earnings amounted to $9.9��million or $0.37 per share.






  • The backlog stood at $409.6��million compared to a backlog of
    $419.3��million at the end of the third quarter of 2011 and represented
    approximately 7.5��months of revenues.






  • During the quarter, GENIVAR received support from Canada's two largest
    institutional investors, the Canada Pension Plan Investment Board
    ("CPPIB") and the Caisse de d��p��t et placement du Qu��bec (the
    "Caisse"), each of whom invested a gross amount of $79.9��million. This
    financing consisted in an equity private placement through the issuance
    of 6,500,000 common shares from treasury at a price of $24.57 per share
    for aggregate gross proceeds of $159.7��million. It will allow the
    Company to continue growing its Canadian business while moving forward
    on executing its international expansion plans.






  • During the quarter, GENIVAR further diversified its professional
    services offering by welcoming the entities collectively referred to as
    "Giroux," Quebec-based geomatics and surveying firms. The Company also
    acquired ISACtion Inc., a Quebec-based firm specialized in
    instrumentation control and automation systems. Finally, the firm also
    established its presence in all ten Canadian provinces through a
    transaction involving AE Consultants Ltd., based in Newfoundland and
    Labrador. These three transactions bring to 355 the number of new
    employees who joined GENIVAR through business acquisitions during the
    year 2011.






  • Shortly after the end of the quarter, GENIVAR laid the initial
    foundations of its international growth strategy through the
    acquisition of Consultores Regionales Asociados - CRA S.A.S. based in
    Colombia. This acquisition is in line with the Company's plans, which
    consist in developing a long-term local presence in Colombia and expand
    in the neighboring countries. GENIVAR also acquired Les Investissements
    R.J. Inc., a Quebec-based firm specialized in mechanical and electrical
    engineering, will enable GENIVAR to meet growing client demand in the
    Building sector. Furthermore, the Company diversified its services
    principally in the oil and gas sector in the Alberta region by
    welcoming GRB Engineering Ltd. ("GRB"). GRB complements the array of
    services already offered in this flourishing, dynamic and
    rich-in-opportunities industry. Finally, the Company reinforces its
    expertise in architecture with the acquisition of Smith Carter
    Architects and Engineers Inc. and of Smith Carter (USA) LLC, which are
    specialized in integrated architectural design and engineering. With
    this acquisition, GENIVAR reinforces its presence in Western Canada and
    integrates the United States market.








2011 YEAR HIGHLIGHTS




  • Total revenues were $651.9 million compared to $580.4 million in 2010,
    an increase of 12.3%. For the same period, net revenues amounted to
    $529.0 million, representing a 12.7% increase as compared to 2010.






  • EBITDA increased to $89.7��million, up from $83.5��million in 2010. As a
    percentage of net revenues, the EBITDA margin stood at 17.0% for 2011,
    compared to 17.8% for 2010.






  • Net earnings amounted to $50.1 million or $1.91 per share.



"I am pleased to report fiscal 2011 ended with a good quarter, that is
consistent with our year-to-date results and expectations," commented
Pierre Shoiry, President and Chief Executive Officer of GENIVAR. "This
past year saw GENIVAR strategically position its platform in
preparation for future growth. Throughout the year, we remained focused
on the fundamentals of our business and continued to strengthen our
presence in Canada and abroad. Additionally, we closed 10 transactions
and welcomed new solid and committed financial partners. As we progress
into 2012, we remain focused on driving growth, further cementing our
position as a leader in the field of professional services, while
enhancing execution to deliver sustained value creation," he added.



BOARD OF DIRECTORS

Ali Ettehadieh notified the Board of Directors of the Company that he
will not stand for re-election at the next annual meeting of
shareholders. Mr. Ettehadieh's term will expire effective upon
conclusion of the Company's 2012 annual meeting of shareholders, which
is scheduled to be held on May 26, 2012. Mr. Ettehadieh will continue
to hold the position of Executive Vice President of GENIVAR.



Commenting on this announcement on behalf of the Board, Richard
B��langer, Chairman, said "We greatly appreciate the energy and the
contribution Ali has made to the Board. We thank him for his
outstanding service and dedication for the past 6 years."



DIVIDEND

The Board of GENIVAR declared a dividend of $0.375 per share. This
dividend will be payable on or about April 15, 2012, to shareholders of
record at the close of business on March 31, 2012.



FINANCIAL REPORT

This release includes, by reference, the year 2011 financial reports,
including the audited consolidated financial statements and the
Management Discussion & Analysis ("MD&A") of the Company.



In 2011, GENIVAR reports its financial results in accordance with IFRS,
as required for public companies in Canada. Previously, the Company
prepared its financial results under Canadian Generally Accepted
Accounting Standards ("GAAP"). The comparative financial information
has been restated to reflect the adoption of IFRS, with effect from
January 1, 2010.



The Company has included reconciliations between IFRS and the amounts
previously reported under GAAP in its 2011 financial statements. For a
copy of our full financial results for the year 2011, including the
MD&A and the audited consolidated financial statements, please visit
our Website at www.genivar.com.



CONFERENCE CALL

GENIVAR will hold a conference call at 4 p.m. (Eastern Time) on March
26, 2012
, to discuss these results. The telephone numbers to access the
conference call are as follows:




  • Montreal and International, please dial 514-861-2909




  • Elsewhere in Canada and United States, please dial 877-695-6175






  • Conference number: 8284786



A presentation highlighting the results of the fourth quarter and year
2011 will be available on the same day in the Investor section of GENIVAR's Website (www.genivar.com), under Presentations and Events.



A replay of the call will be available until April 2, 2012. The
telephone numbers to access the replay of the call are 514-861-2272 or
800-408-3053, password 1421250. The replay of the conference call will
also be available in the Investor section of the Website under Presentations and Events, in the days following the event.






RESULTS OF OPERATIONS
















































































































































































































































































































































































��

��

��

��

��

Fourth quarter

��

Year

��

2011

��

2010

��

Variation

��

2011

��

2010

��

Variation

IN THOUSANDS OF DOLLARS EXCEPT PER SHARE/UNIT DATA AND PERCENTAGES

FOR THE PERIOD

FROM OCTOBER��2

TO DECEMBER��31

(UNAUDITED)

��

FOR THE PERIOD

FROM OCTOBER��3

TO DECEMBER��31

(UNAUDITED)

��

%

��

FOR THE PERIOD

FROM JANUARY 1

TO DECEMBER��31

(AUDITED*)

��

FOR THE PERIOD

FROM JANUARY 1

TO DECEMBER��31

(AUDITED*)

��

%

Revenues

$ 171,980

��

$ 154,706

��

11.2%

��

$ 651,885

��

$ 580,431

��

12.3%

Less: Subconsultants and other direct expenses

$ 39,299

��

$ 36,103

��

8.9%

��

$ 122,883

��

$ 110,932

��

10.8%

Net revenues**

$ 132,681

��

$ 118,603

��

11.9%

��

$ 529,002

��

$ 469,499

��

12.7%

Direct project costs

$ 68,371

��

$ 61,597

��

11.0%

��

$ 272,412

��

$ 238,537

��

14.2%

Gross margin

$ 64,310

��

$ 57,006

��

12.8%

��

$ 256,590

��

$ 230,962

��

11.1%

Marketing, general and administrative expenses(1)

$ 42,846

��

$ 37,673

��

13.7%

��

$ 166,901

��

$ 147,480

��

13.2%

EBITDA**

$ 21,464

��

$ 19,333

��

11.0%

��

$ 89,689

��

$ 83,482

��

7.4%

Amortization of intangible assets

$ 4,479

��

$ 4,864

��

(7.9%)

��

$ 17,311

��

$ 16,859

��

2.7%

Depreciation of property, plant and equipment

$ 2,389

��

$ 1,789

��

33.5%

��

$ 7,971

��

$ 6,312

��

26.3%

Financial expenses(2)

$ 1,003

��

$ 671

��

49.5%

��

$ 4,406

��

($ 2,367)

��

286.1%

Earnings before income taxes

$ 13,593

��

$ 12,009

��

13.2%

��

$ 60,001

��

$ 62,678

��

(4.3%)

Income tax expenses

$ 3,678

��

$ 9,313

��

(60.5%)

��

$ 9,945

��

$ 11,728

��

(15.2%)

Net earnings

$ 9,915

��

$ 2,696

��

267.8%

��

$ 50,056

��

$ 50,950

��

(1.8%)

Attributable to the:

��

��

��

��

��

��

��

��

��

��

��

��

- shareholders/unitholders

$ 9,911

��

($ 1,154)

��

958.8%

��

$ 50,052

��

$ 39,219

��

27.6%

��

- non-controlling interest

$ 4

��

$ 3,850

��

(99.9%)

��

$ 4

��

$ 11,731

��

(100.0%)

Basic net earnings per share/unit

$ 0.37

��

$ 0.15

��

146.7%

��

$ 1.91

��

$ 2.81

��

(32.0%)

Diluted net earnings per share/unit

$ 0.37

��

$ 0.15

��

146.7%

��

$ 1.91

��

$ 2.26

��

(15.5%)

Adjusted net earnings**

$ 9,915

��

$ 2,696

��

267.8%

��

$ 50,056

��

$ 47,100

��

6.3%

Adjusted net earnings per share/unit**

$ 0.37

��

$ 0.10

��

270.0%

��

$ 1.91

��

$ 1.73

��

10.4%

Weighted average number of shares/units

26,841,888

��

18,103,589

��

��

��

26,233,234

��

18,103,589

��

��

Diluted weighted average number of shares/units

26,841,888

��

18,103,589

��

��

��

26,233,234

��

21,752,567

��

��

Adjusted weighted average number of shares/units(3)

26,841,888

��

27,163,976

��

��

��

26,233,234

��

27,163,976

��

��























*��

Except for non-IFRS measures.

**��

Non-IFRS measures are described below.

(1)

The marketing, general and administrative expenses include the exchange
loss or gain and the interest revenues.


(2)

In 2011, the financial expenses only included the interest expenses. The
2010 financial expenses included the unrealized gain arising from
changes in fair value of financial liability related to LP Units of
$9,513, less the distributions on this financial liability of $5,663
and the interest expenses.


(3)

Adjusted weighted average number of shares/units represents the weighted
average number of shares/units receiving dividends/distributions.








FUNDS FROM OPERATIONS AND FREE CASH FLOW






























































































































��

��

��

��

��

Fourth quarter

��

Year

��

2011

��

2010

��

2011

��

2010

IN THOUSANDS OF DOLLARS

FOR THE PERIOD

FROM OCTOBER��2

TO DECEMBER��31

(UNAUDITED)

��

FOR THE PERIOD

FROM OCTOBER��3

TO DECEMBER��31

(UNAUDITED)

��

FOR THE PERIOD

FROM JANUARY��1

TO DECEMBER��31

(AUDITED*)

��

FOR THE PERIOD

FROM JANUARY��1

TO DECEMBER��31

(AUDITED*)

Cash flows from operating activities

$ 53,278

��

$ 35,750

��

$ 72,535

��

$ 61,762

Change in non-cash working capital items

($ 36,827)

��

($ 18,005)

��

($ 4,793)

��

$ 17,994

Funds from operations**

$ 16,451

��

$ 17,745

��

$ 67,742

��

$ 79,756

Funds from operations per share/unit**

$ 0.61

��

$ 0.65

��

$ 2.58

��

$ 2.94

Less:

��

��

��

��

��

��

��

Change in non-cash working capital items

$ 36,827

��

$ 18,005

��

$ 4,793

��

($ 17,994)

Capital expenditures

($ 5,814)

��

($ 3,171)

��

($ 12,228)

��

($ 12,664)

Free cash flow**

$ 47,464

��

$ 32,579

��

$ 60,307

��

$ 49,098

Free cash flow per share/unit**

$ 1.82

��

$ 1.20

��

$ 2.30

��

$ 1.81











*��

Except non-IFRS measures.

**��

Non-IFRS measures are described below.









NON-IFRS MEASURES

GENIVAR uses non-IFRS measures that are considered by Canadian companies
as indicators of financial performance measures which are not
recognized under IFRS and may differ from similar computations as
reported by other similar entities and, accordingly, may not be
comparable. GENIVAR believes these measures are useful supplemental
information that may assist investors in assessing an investment in
Company's shares.



Non-IFRS measures used by GENIVAR are net revenues, EBITDA, EBITDA per
share/unit, income tax expenses per share/unit, adjusted net earnings,
adjusted net earnings per share/unit, funds from operations, funds from
operations per share/unit, free cash flow, and free cash flow per
share/unit.



Net revenues

Net revenues are defined as revenues from consulting services less
direct costs for subconsultants and other direct expenses that are
recoverable directly from the clients. Net revenues is not an IFRS
measure and does not have a standardized definition within IFRS.
Therefore, net revenues may not be comparable to similar measures
presented by other issuers. Investors are warned that net revenues
should not be construed as an alternative to revenues for the year (as
determined in accordance with IFRS) as an indicator of GENIVAR's
performance.



EBITDA and EBITDA per share/unit

EBITDA is defined as earnings before financial expenses, income tax
expenses, depreciation and amortization. EBITDA is not an IFRS measure
and does not have a standardized definition within IFRS. Investors are
cautioned that EBITDA should not be considered an alternative to net
earnings for the year (as determined in accordance with IFRS) as an
indicator of GENIVAR's performance, or an alternative to cash flows
from operating, financing and investing activities as a measure of
GENIVAR's liquidity and cash flows. GENIVAR's method of calculating
EBITDA may differ from the methods used by other issuers and,
accordingly, GENIVAR's EBITDA may not be comparable to similar measures
used by other issuers.



EBITDA per share/unit is calculated using the weighted average number of
shares/units receiving dividends/distributions.



Income tax expenses per share/unit

Income tax expenses per share/unit is defined as the income tax expenses
on the diluted weighted average number of shares/units.



Adjusted net earnings and adjusted net earnings per share/unit

Adjusted net earnings is not an IFRS measure and is defined as net
earnings without the income and expenses of the financial liability
related to LP Units.



Adjusted net earnings per share/unit is calculated using the adjusted
net earnings divided by the weighted average number of shares/units
receiving dividends/distributions.



Funds from operations and funds from operations per share/unit

Funds from operations is not an IFRS measure. It provides Management and
investors with a proxy for the amount of cash generated from operating
activities before changes in non-cash working capital items.



Funds from operations per share/unit is calculated using the weighted
average number of shares/units receiving dividends/distributions.



Free cash flow and free cash flow per share/unit

Free cash flow is not an IFRS measure. It provides a consistent and
comparable measurement of free cash flow generated from operations
across entities and is used as an indicator of financial strength and
performance. Free cash flow is defined as cash flows from operating
activities, including operating cash flows provided from or used in
discontinued operations as reported in accordance with IFRS, less total
capital expenditures as reported in the financial statements.



Free cash flow per share/unit is calculated using the weighted average
number of shares/units receiving dividends/distributions.



ABOUT GENIVAR INC.

GENIVAR is a leading Canadian engineering company providing private and
public-sector clients with a full range of professional consulting
services throughout all project phases, including planning, design,
construction and maintenance. Ranging significantly in size, GENIVAR's
clients operate in various different market segments, including the
building, industrial, energy, municipal infrastructure, transportation
and environmental sectors. GENIVAR is one of the largest engineering
companies in Canada by number of employees, with more than 5,500
managers, professionals, technicians, technologists and support staff
in over 100 cities in Canada and internationally.

www.genivar.com



Forward-looking statements

Certain information regarding GENIVAR contained herein may constitute
forward-looking statements. Forward-looking statements may include
estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact. Although
GENIVAR believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to have been correct. These
statements are subject to certain risks and uncertainties and may be
based on assumptions that could cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. GENIVAR's forward-looking statements are expressly
qualified in their entirety by this cautionary statement. The complete
version of the cautionary note regarding forward-looking statements as
well as a description of the relevant assumptions and risk factors
likely to affect GENIVAR's actual or projected results are included in
the Management Discussion and Analysis for the fourth quarter and year
2011 ended December 31, 2011, which are available on SEDAR at
www.sedar.com. The forward-looking statements contained in this press release are
made as of the date hereof and GENIVAR does not assume any obligation
to update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise unless expressly
required by applicable securities laws.



��



��



��



For further information:

Alexandre L'Heureux
Chief Financial Officer
GENIVAR Inc.
Tel.: 514-340-0046, ext. 5310
alexandre.lheureux@genivar.com

Isabelle Adjahi
Director, Communications and Investor Relations
GENIVAR Inc.
Tel.: 514-340-0046, ext. 5648
isabelle.adjahi@genivar.com









Newer Posts Older Posts Home