This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Harry Winston Diamond Corporation Reports Fiscal 2012 Fourth Quarter And Year-End Results (3)

The Company's shares are primarily traded on a Canadian dollar based exchange, and accordingly stock option information is presented in Canadian dollars, with conversion to US dollars at the average exchange rate for the year.

Compensation expense for stock options was $2.1 million for fiscal 2012 (2011 - $1.3 million) and is presented as a component of both cost of sales and selling, general and administrative expenses. The amount credited to share capital for the exercise of the options is the sum of (a) the cash proceeds received and (b) the amount debited to contributed surplus upon exercise of stock options by optionees (2012 - $0.6 million; 2011 - $2.8 million).

Changes in share options outstanding are as follows:
                                                                    2012
                                                        Weighted average
                                    Options               exercise price
                                       000s    CDN $                US $
    Outstanding, beginning of year    2,868  $ 12.58  $            12.26
    Granted                             350    16.70               17.44
    Exercised                         (715)     7.26                7.43
    Expired                           (102)    25.54               26.14
    Outstanding, end of year          2,401  $ 14.21  $            14.34

TABLE CONT'D
                                                                    2011
                                                        Weighted average
                                    Options               exercise price
                                       000s    CDN $                US $
    Outstanding, beginning of year    3,234  $ 12.89  $             7.61
    Granted                             300    12.35               11.78
    Exercised                         (428)     7.14                6.92
    Expired                           (238)    26.34               25.79
    Outstanding, end of year          2,868  $ 12.58  $            12.26

Exercisable options totaled 1.9 million at January 31, 2012 (2.2 million at January 31, 2011).

The following summarizes information about stock options outstanding at January 31, 2012:
 
                                                  Weighted
                                                   average
                                                 remaining
                                    Number     contractual
    Range of exercise prices   outstanding   life in years
    CDN $                             000s
    $3.78                            1,015             7.2
    12.35-16.70                        650             6.8
    23.35-29.25                        600             0.6
    41.45                              136             2.2
                                     2,401

TABLE CONT'D
                      Options outstanding                  Options exercisable
 
                                 Weighted                             Weighted
                                  average        Number                average
    Range of
    exercise prices        exercise price   exercisable         exercise price
    CDN $                           CDN $          000s                  CDN $
    $3.78           $                3.78         1,016  $                3.78
    12.35-16.70                     14.69           100                  12.35
    23.35-29.25                     25.21           600                  25.21
    41.45                           41.45           136                  41.45
                    $               14.21         1,852  $               13.94

(d) Stock-based compensation

The Company applies the fair value method to all grants of stock options.

6 of 18

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs