Reported a net income of $445m for Q3
Great-West Lifeco has reported a net income attributable to common shareholders of $445m for the three months ended September 30, 2009, compared to $436m in 2008.
On a per common share basis, this represents $0.471 per common share for the three months ended September 30, 2009, compared to $0.487 per common share for 2008.
For the nine months ended September 30, 2009, the net income attributable to common shareholders was $1,184m, compared to $1,493m a year ago. On a per common share basis, this represents $1.254 per common share for the nine months ended September 30, 2009, compared to $1.717 per common share for 2008.
The net income of $1,493m for the nine months ended September 30, 2008 represents adjusted net income from continuing operations. The net income attributable to common shareholders, was $2,303m, or $2.575 per common share for the nine months ended September 30, 2008.
Although conditions have generally improved in 2009, the 2009 results compared to 2008 reflect the weaker global equity and credit market environment that has existed since 2007.
The reduced net income attributable to common shareholders by $86m after-tax, or $0.09 per common share after adjusting for pass-through features and minority interests.