Artio Global Investors Reports First Quarter 2012 Results; Announces Dividend Of $0.02 Per Share
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 ended March 31, 2012.
- Adjusted 1 net income attributable to Artio Global Investors of $6.5 million, or $0.11 per diluted share, for the first quarter of 2012 (GAAP net income attributable to Artio Global Investors of $4.6 million, or $0.08 per diluted share)
- Assets under management of $26.6 billion as of March 31, 2012
- Investment management fees of $42.8 million for the first quarter of 2012
- Effective fee rate 2 of 60.3 basis points for the first quarter of 2012
- Repaid outstanding principal balance of $37.5 million on term debt in the first quarter of 2012
- Quarterly dividend of $0.02 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”). The Company’s adjusted results for the first quarter of 2012 also exclude certain costs associated with organizational changes and the write-off of unamortized debt issuance costs in connection with the early repayment of the term debt. Adjusted results are presented to provide more meaningful comparisons between periods.
For the first quarter of 2012, adjusted net income attributable to Artio Global Investors was $6.5 million, or $0.11 per diluted share, a decrease in each case of 35%, from adjusted net income attributable to Artio Global Investors of $10.0 million, or $0.17 per diluted share, for the fourth quarter of 2011, and a decrease of 73% in each case from adjusted net income attributable to Artio Global Investors of $24.2 million, or $0.41 per diluted share, for the first quarter of 2011.
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