This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: ART

On a GAAP basis, net income attributable to Artio Global Investors for the fourth quarter of 2011 was $8.3 million, or $0.14 per diluted share, an increase of 29% and 27%, respectively, from net income attributable to Artio Global Investors of $6.4 million, or $0.11 per diluted share, for the third quarter of 2011, and a decrease in each case of 68% from net income attributable to Artio Global Investors of $25.7 million, or $0.44 per diluted share, for the fourth quarter of 2010.

For the full year 2011, adjusted net income attributable to Artio Global Investors was $73.4 million, or $1.23 per diluted share, a decrease of 29% and 28%, respectively, from adjusted net income attributable to Artio Global Investors of $103.5 million, or $1.72 per diluted share, for the full year 2010.

On a GAAP basis, net income attributable to Artio Global Investors for the full year 2011 was $57.9 million, or $0.99 per diluted share, a decrease of 31% and 37%, respectively, from net income attributable to Artio Global Investors of $83.6 million, or $1.58 per diluted share, for the full year 2010.

The following tables compare the Company’s GAAP results and adjusted results. See Exhibits 3 – 5 of this news release for a reconciliation of the Company’s GAAP results to adjusted results.

           
      Three Months Ended

(unaudited, in millions, except per share amounts)

Dec. 31, 2011

 

Dec. 31, 2010

 

% Change

   

Sep. 30, 2011

 

% Change

 

Revenue 4, GAAP

$ 51.9 $ 85.2 (39 %) $ 63.8 (19 %)
Operating income, GAAP $ 15.5 $ 45.0 (65 %) $ 21.2 (27 %)
Operating income, adjusted $ 17.9 $ 47.7 (62 %) $ 31.9 (44 %)
Net income attributable to Artio Global Investors, GAAP

$

8.3

$

25.7

(68

%)

$

6.4

29

%

Net income attributable to Artio Global Investors, adjusted

$

10.0

$

27.8

(64

%)

$

15.9

(37

%)

Diluted EPS, GAAP $ 0.14 $ 0.44 (68 %) $ 0.11 27 %
Diluted EPS, adjusted $ 0.17 $ 0.46 (63 %) $ 0.27 (37 %)
 

Year Ended

(unaudited, in millions, except per share amounts)

Dec. 31, 2011

Dec. 31, 2010

% Change

 

Revenue 4, GAAP

$ 276.0 $ 335.1 (18 %)
Operating income, GAAP $ 112.7 $ 173.2 (35 %)
Operating income, adjusted $ 131.0 $ 184.3 (29 %)
Net income attributable to Artio Global Investors, GAAP

$

57.9

$

83.6

(31

%)

Net income attributable to Artio Global Investors, adjusted

$

73.4

$

103.5

(29

%)

Diluted EPS, GAAP $ 0.99 $ 1.58 (37 %)
Diluted EPS, adjusted       $ 1.23   $ 1.72   (28 %)        
 

Business Update 5

  • Four of the Company’s nine eligible mutual funds 6 were in the top quartile of Lipper performance rankings for the three-year period ended December 31, 2011
  • Four of the Company’s nine eligible mutual funds 7 were in the top quartile of Lipper performance rankings for the five-year period ended December 31, 2011
  • Net client cash outflows were $4.8 billion for the fourth quarter of 2011 and $16.7 billion for full year 2011, driven primarily by our International Equity I and II strategies.

Management Commentary

“The fourth quarter concluded a disappointing year for Artio Global, as underperformance in our International Equity strategies further impacted net client cash flows, revenues and earnings,” said Richard Pell, Chairman, Chief Executive Officer and Chief Investment Officer.

2 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs