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Artio Global Investors Reports Fourth Quarter And Full Year 2011 Results; Announces Quarterly Dividend Of $0.06 Per Share

Stocks in this article: ART

Artio Global Investors Inc. (NYSE: ART) (“Artio Global Investors”, together with its subsidiaries, “Artio Global” or the “Company”) today reported its results for the quarter and year ended December 31, 2011.

Financial Update

  • Adjusted 1 net income attributable to Artio Global Investors of $10.0 million, or $0.17 per diluted share, for the fourth quarter of 2011 (GAAP net income attributable to Artio Global Investors of $8.3 million, or $0.14 per diluted share)
  • Assets under management of $30.4 billion as of December 31, 2011
  • Investment management fees of $51.6 million for the fourth quarter of 2011 and $277.2 million for the full year 2011
  • Effective fee rate 2 of 61.3 basis points for the fourth quarter of 2011
  • Adjusted operating margin of 34.5% for the fourth quarter of 2011 and 47.5% for the full year 2011
  • Quarterly dividend of $0.06 per share on Class A common stock

The Company’s adjusted results for all periods assume the Principals’ 3 non-controlling interests have been fully exchanged for shares of Class A common stock and exclude the amortization of restricted stock units (“RSUs”) granted at the time of the Company’s initial public offering (“IPO”). In addition, the Company’s adjusted results for the third quarter and full year 2011 exclude a compensation charge (the “Compensation Charge”) of $7.6 million related to organizational changes. Adjusted results are presented to provide more meaningful comparisons between periods.

For the fourth quarter of 2011, adjusted net income attributable to Artio Global Investors was $10.0 million, or $0.17 per diluted share, a decrease in each case of 37% from adjusted net income attributable to Artio Global Investors of $15.9 million, or $0.27 per diluted share, for the third quarter of 2011, and a decrease of 64% and 63%, respectively, from adjusted net income attributable to Artio Global Investors of $27.8 million, or $0.46 per diluted share, for the fourth quarter of 2010.

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