The Company uses economic income and economic net income to provide greater clarity regarding the cash earnings of the business by removing non-cash reorganization-related share-based compensation charges and non-cash interest expense on shares subject to mandatory redemption, as defined in the Non-GAAP Financial Measures section below. On this basis, Manning & Napier reported fourth quarter 2011 economic income of $40.0 million, compared with $32.6 million in the fourth quarter of 2010, and $43.3 million in the third quarter of 2011. Also for the fourth quarter 2011, economic net income was $24.7 million, or $0.27 per adjusted share, compared with $20.2 million in the fourth quarter of 2010, and $26.7 million in the third quarter of 2011.On a GAAP basis, net loss attributable to the controlling and noncontrolling interests for the fourth quarter was $179.7 million, compared with net income attributable to the controlling and noncontrolling interests of $19.0 million in the fourth quarter of 2010 and $29.7 million in the third quarter of 2011. The fourth quarter 2011 net loss was attributable to non-cash reorganization-related share-based compensation expense of $215.3 million and non-cash interest expense on shares subject to mandatory redemption of $3.1 million. The GAAP net loss attributable to the common shareholders of $27.2 million, or $2.11 per basic and diluted share, reflects the public ownership of the Company’s subsidiary, Manning & Napier Group, LLC. The remaining ownership interest is attributed to the other members of Manning & Napier Group, LLC.
Manning & Napier, Inc. Reports Fourth Quarter And Year-End 2011 Earnings Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.