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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Artio Global Investors Reports Third Quarter 2012 Results; Announces Dividend Of $0.02 Per Share

Shareholder Servicing and Marketing Expenses

Shareholder servicing and marketing expenses for the third quarter of 2012 were $2.6 million, a decrease of 14% from $3.0 million for the second quarter of 2012, due primarily to lower platform costs, reflecting a decrease in average assets under management in proprietary funds.

General and Administrative Expenses

Adjusted general and administrative expenses were $8.7 million for the third quarter of 2012, an increase of 12% from $7.7 million for the second quarter of 2012, due primarily to higher professional fees.

GAAP general and administrative expenses were $10.3 million for the third quarter of 2012, an increase of 33% from $7.7 million for the second quarter of 2012, due primarily to the offshore fund expense and the reason noted above.

Non-operating Income (Loss)

Adjusted non-operating income for the third quarter of 2012 was $2.4 million, up from adjusted non-operating loss of $1.2 million for the second quarter of 2012, primarily reflecting gains on seed capital investments in the third quarter of 2012, as compared to losses in the second quarter of 2012.

GAAP non-operating income for the third quarter of 2012 was $144.2 million, up from GAAP non-operating loss of $1.4 million for the second quarter of 2012 due primarily to a reduction in amounts payable under the tax receivable agreement, which is associated with the valuation allowance on the Company’s deferred tax assets and the reason noted above.

Income Taxes

For the third quarter of 2012, adjusted income tax benefit was $0.3 million, compared to adjusted income tax expense of $0.9 million in the second quarter of 2012. The decrease was due primarily to a true-up to reflect the finalization of the prior year’s tax return.

GAAP income tax expense for the third quarter of 2012 was $171.6 million, compared to GAAP income tax benefit of $0.3 million for the second quarter of 2012, due primarily to a valuation allowance on the Company’s deferred tax assets and a write-off of deferred tax assets related to the vesting of RSUs granted at the time of the IPO, at a price below their grant date fair value in the third quarter of 2012.

6 of 11

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 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

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