The Canadian Press

Sceptre Investment Counsel Ltd. (TSX:SZ) reported fourth-quarter earnings of $1.1 million or 8¢ per share, reversing a small year-earlier loss that resulted from a one-time charge.

The money management firm said Thursday its revenue for the three months ended Nov. 30 was $7.5 million compared to $7.7 million in the same period of 2008, when the company reported a loss of $103,000 or 1¢ per share due to a $1.4 million after-tax charge related to the departure of its former CEO.

The slight decline in revenue was the result of slightly lower management fee revenue, retail mutual fund revenue and private client revenue, Sceptre said.

The company said its full-year earnings were $3.5 million or 25¢ per share compared with $5.0 million or 35¢ per share in 2008. Revenue for the fiscal year was $27.2 million compared to $35.4 million in 2008.

Sceptre is an independent investment management firm with assets under supervision of approximately $7.4 billion.

Shares in the company gained 5¢ to $6 in Thursday trading on the Toronto Stock Exchange.