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Pzena Investment Management's CEO Discusses Q4 2011 Results - Earnings Call Transcript

These factors include but are not limited to the factors described in the company’s reports filed with the SEC, which are available on our website and on the SEC’s website www.sec.gov.

Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which the statements are made. The company does not undertake to update such statements to reflect the impact of circumstances or events that arise after the date these statements were made. Investors should however consult any further disclosures the company may make and reports filed with the SEC.

In addition, please be advised that because of the prohibitions on selected disclosure, the company as a matter of policy does not disclose material that is not public information on their conference calls. If one of your questions require the disclosure of material non-public information, we will not be able to respond to it. Thank you.

I’ll turn the call over to Rich shortly, but first I’d like to review some financial highlights. Please note that we’ll be making some minor correction to two charts and resubmitting our press release this afternoon. The PDF on our website is correct.

We reported non-GAAP diluted EPS of $0.08 per share and $5.1 million in non-GAAP diluted net income. Revenues were $18.9 million for the quarter and our non-GAAP operating income was $8.9 million. Our cash balance was $35.1 million at quarter-end, and we declared a $0.19 per share quarterly dividend last night. This $0.19 dividend is our quarterly dividend, as well as the payout for 2011.

I’ll discuss our financial results in greater depth in a few minutes. Let me first turn the call over to Rich, who will discuss our view of the investing environment and how we are positioned relative to it.

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