The Financial Post reports in its Wednesday, May 22, edition that Canaccord Financial posted earnings of $6.4-million or four cents a share in the quarter ended March 31 as revenue increased 23 per cent compared with a year ago. A Canadian Press dispatch to the Post reports that compared with a loss of $31.8-million or 42 cents a year ago. Revenue in what was Canaccord's fourth quarter was $218-million, up from $177.7-million. Excluding restructuring and other one-time costs, Canaccord earned $15.6-million or 12 cents in the quarter, up from $2.1-million or two cents a year ago. Chief executive officer Paul Reynolds said it was a pivotal year for the firm with its acquisition and integration of Britain's Collins Stewart Hawkpoint. He said: "In doing so, we eliminated significant costs, aligned staffing levels with market opportunities and grew our cross-border client services. ... Together, these activities have strengthened our business and meaningfully enhanced our operating margins since the beginning of the year." The acquisition of the London-based financial advisory group significantly increased Canaccord's reach in the United Kingdom and the United States, and gave it a presence in Singapore.