This Day On The Street
Continue to site
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

SEI Investments CEO Discusses Q3 2011 Results - Earnings Call Transcript

Third quarter earnings were 13% lower than earnings a year ago on revenue increase of 6%. Diluted earnings per share for the third quarter of $0.27 compares to $0.30 reported for the third quarter of 2010 a drop of 10%, our earnings for the quarter were affected by a loss attributable to the SIVs on our balance sheet which netted to a decrease to earnings of approximately $800,000. Now this compares to an $8.7 million increase to earnings due to SIVs in the third quarter of 2010. Now this swing represents approximately $0.03 per share.

Also during the third quarter of 2011, our non-cash asset balances under management experienced significant losses. SEI’s assets under management fell by $19.5 billion during the quarter including a $11.5 billion drop in LSVs assets under management.

And as you will hear later this drop in assets under management is market driven. In addition during the third quarter, we repurchased just under $3.7 million shares of stock at an average price of just over $17 per share. Now that translates over $63 million of stock repurchases during the quarter.

New recurring revenue sales are still slow. For the Investment Managers and Institutional Investors segments good sales quarters, both segments are experiencing delays in conversion.

In addition the Advisor segment added a number of new advisors to its roles but did suffer from the loss of assets under management due to market volatility. Banking had a decent sales quarter and they have a number of prospects in the later stage of the sales process and are working hard to close them in the fourth quarter and each of the segment will address their sales events.

And we are continuing our investment in GWP and its operational infrastructure so critical to our future.

Now during the first quarter, we capitalized approximately $10 million of the Global Wealth Platform development and amortized approximately $6.6 million of previously capitalized development.

2 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,817.53 +97.61 0.55%
S&P 500 2,091.24 +10.83 0.52%
NASDAQ 5,129.28 +20.6140 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs