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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

 
 




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