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
TheStreet Open House

Evercore Partners Reports Second Quarter 2012 Results; Quarterly Dividend Of $0.20 Per Share

With respect to any securities offered by any private equity fund referenced herein, such securities have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

   
 

ANNEX I

 
       
Schedule     Page Number

Unaudited Condensed Consolidated Statements of Operations for the

Three and Six Months Ended June 30, 2012 and 2011

    A-1
Adjusted Pro Forma:      
Adjusted Pro Forma Results     A-2
U.S. GAAP Reconciliation to Adjusted Pro Forma (Unaudited)     A-4

Adjusted Pro Forma Segment Reconciliation to U.S. GAAP for the

Three and Six Months ended June 30, 2012 (Unaudited)

    A-6

Adjusted Pro Forma Segment Reconciliation to U.S. GAAP for the

Three Months ended March 31, 2012 (Unaudited)

    A-7

Adjusted Pro Forma Segment Reconciliation to U.S. GAAP for the

Three and Six Months ended June 30, 2011 (Unaudited)

    A-8

Notes to Unaudited Condensed Consolidated Adjusted Pro Forma

Financial Data

    A-9
 
 
                   
 
EVERCORE PARTNERS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE AND SIX MONTHS ENDED JUNE 30, 2012 AND 2011
(dollars in thousands, except per share data)
(UNAUDITED)
 
Three Months Ended June 30, Six Months Ended June 30,
2012 2011 2012 2011
 
Revenues
Investment Banking Revenue $ 154,426 $ 114,696 $ 238,921 $ 197,748
Investment Management Revenue 20,036 27,987 39,800 53,431
Other Revenue   1,593   4,270     3,889   7,966  
Total Revenues 176,055 146,953 282,610 259,145
Interest Expense (1)   3,558   5,749     7,315   10,843  
Net Revenues   172,497   141,204     275,295   248,302  
 
Expenses
Employee Compensation and Benefits 114,290 100,069 195,017 169,166
Occupancy and Equipment Rental 9,146 5,673 17,391 10,791
Professional Fees 8,272 8,028 15,328 16,009
Travel and Related Expenses 7,648 5,416 14,381 9,929
Communications and Information Services 3,028 1,930 5,816 3,974
Depreciation and Amortization 3,680 3,039 9,042 5,996
Special Charges 662 - 662 -
Acquisition and Transition Costs 75 601 148 1,134
Other Operating Expenses   4,501   4,833     8,458   7,924  
Total Expenses   151,302   129,589     266,243   224,923  
 

Income Before Income from Equity Method Investments and

Income Taxes

21,195 11,615 9,052 23,379
Income from Equity Method Investments   719   69     3,104   469  
Income Before Income Taxes 21,914 11,684 12,156 23,848
Provision for Income Taxes   9,773   6,064     5,135   10,500  
Net Income from Continuing Operations   12,141   5,620     7,021   13,348  
 
Discontinued Operations
Income (Loss) from Discontinued Operations - (448 ) - (1,037 )
Provision (Benefit) for Income Taxes - (87 ) - (265 )
Net Income (Loss) Attributable to Noncontrolling Interest   -   (276 )   -   (657 )
Net Income (Loss) from Discontinued Operations   -   (85 )   -   (115 )
 
Net Income 12,141 5,535 7,021 13,233

Net Income Attributable to Noncontrolling Interest

  4,207   3,274     2,455   7,384  
Net Income Attributable to Evercore Partners Inc. $ 7,934 $ 2,261   $ 4,566 $ 5,849  
 

Net Income (Loss) Attributable to Evercore Partners Inc.

Common Shareholders:

From Continuing Operations $ 7,913 $ 2,325 $ 4,524 $ 5,922
From Discontinued Operations   -   (85 )   -   (115 )
Net Income Attributable to Evercore Partners Inc. $ 7,913 $ 2,240   $ 4,524 $ 5,807  
 
Weighted Average Shares of Class A Common Stock Outstanding:
Basic 29,213 23,724 29,169 23,204
Diluted 31,664 27,364 32,106 26,956
 

Basic Net Income Per Share Attributable to Evercore Partners

Inc. Common Shareholders:

 

From Continuing Operations $ 0.27 $ 0.09 $ 0.16 $ 0.25
From Discontinued Operations   -   -     -   -  
Net Income Attributable to Evercore Partners Inc. $ 0.27 $ 0.09   $ 0.16 $ 0.25  
 

Diluted Net Income Per Share Attributable to Evercore

Partners Inc. Common Shareholders:

From Continuing Operations $ 0.25 $ 0.08 $ 0.14 $ 0.22
From Discontinued Operations   -   -     -   -  
Net Income Attributable to Evercore Partners Inc. $ 0.25 $ 0.08   $ 0.14 $ 0.22  
 
 
1 Includes interest expense on long-term debt and interest expense on short-term repurchase agreements.
 

A - 1

 
 




9 of 13

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!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

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