This Day On The Street
Continue to site
ADVERTISEMENT
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

Oaktree Capital Group, LLC Announces Second Quarter 2012 Financial Results

General, administrative and other expenses decreased $0.1 million, to $26.3 million for the second quarter of 2012 from $26.4 million for the second quarter of 2011. Excluding the impact of foreign currency-related items, general, administrative and other expenses declined $0.8 million, from $26.9 million to $26.1 million for the second quarter of 2012. The $0.8 million decline was the net result of an increase of $2.2 million in professional fees and other costs associated with corporate growth and being a public company, and a decrease of $3.0 million in IPO-related costs, to zero in the current year’s second quarter.

Incentive income compensation expense rose $19.8 million, or 48.1%, from $41.2 million for the second quarter of 2011 to $61.0 million for the second quarter of 2012, reflecting both the 20.2% increase in incentive income and differences in the compensation percentages among the funds that contributed to incentive income for the two periods.

Adjusted net income

Adjusted net income rose $24.5 million, or 17.4%, to $165.5 million for the second quarter of 2012 from $141.0 million for the second quarter of 2011, reflecting increases of $13.1 million in fee-related earnings, $1.9 million in incentive income, net of incentive income compensation expense, and $9.7 million in investment income.

The portion of adjusted net income attributable to our Class A units (“adjusted net income-OCG”) was $26.2 million. On a per unit basis, adjusted net income-OCG amounted to $0.89 and $0.69 for the second quarters of 2012 and 2011, respectively.

The effective income tax rates applied to adjusted net income-OCG before income taxes for the three months ended June 30, 2012 and June 30, 2011 were 18% and 21%, respectively. As described at the table under “Adjusted Net Income,” the 2012 tax rate of 18% for adjusted net income-OCG excludes the impact of a one-time adjustment to deferred tax assets. The effective income tax rate is a function of the mix of income and other factors, each of which often varies significantly within or between years and can have a material impact on the particular year’s income tax expense. The rate used for interim fiscal periods is based on the estimated full-year effective income tax rate, which is subject to change as the year progresses.

6 of 15

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.49 +16.35 0.09%
S&P 500 2,118.71 +1.02 0.05%
NASDAQ 5,086.8730 -5.2120 -0.10%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs