GMP Capital Inc.’s revenue of $59.3 million for Q4 2017 represented a 9% decrease relative to the same period a year ago, the company says in a Friday press release.

However, it recorded net income of $6.4 million and EPS of $0.07 for the fourth quarter, compared with $3.2 million and diluted EPS of $0.03 a year earlier. Adjusted EPS was $0.11 in Q4 2017, compared with $0.07 in the prior year.

Growth in the firm’s “underwriting franchise was driven by robust client activity in the burgeoning blockchain and cannabis sectors,” said Harris Fricker, president and CEO, in the press release.

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“Additionally, the declaration of a special dividend by our board is indicative of the improvement in GMP’s operational performance in 2017, and [of] our outlook for the first half of 2018,” he added, saying the firm is especially encouraged “by the ongoing financial strength” of its wealth management business.

GMP Capital’s wealth management segment reported income before income taxes of $2.1 million, compared with a loss before income taxes of $0.9 million a year earlier. The firm mainly attributes this “improved performance” to its share of Richardson GMP’s net income and dividends.

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For all of 2017, GMP Capital’s revenue was $186.8 million, down 5% from a year earlier. GMP recorded a net loss of $47.1 million and a diluted loss per share of $0.74 in 2017, compared with a net loss of $11.6 million and a diluted loss per share of $0.24 in 2016.

On an adjusted basis, net income was $18.8 million in 2017 and generated EPS of $0.18, compared with net income of $5.5 million and EPS of $0.01 in 2016.

Fricker said in the release, “The real opportunity for our firm is continuing to do what we do best, namely helping small- to mid-cap companies efficiently access the requisite capital needed to grow their business.”

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