Evercore Partners Reports Record Fourth Quarter And Full Year 2012 Results

“2012 ended the year on a strong note, both for Evercore and the M&A markets broadly. Evercore’s Investment Banking Net Revenues and Operating Income each grew more than 30%, delivering a full year Operating Margin of 23%. We delivered these results in a year when announced transactions on a global basis were essentially flat and completed transactions were down 15%,” said Roger Altman, Executive Chairman. “Once again, we advised on a disproportionate share of the largest transactions. More specifically, we advised on one of the three largest transactions in the United States in each of the oil and gas, consumer, banking, biotech, and publishing sectors, and the largest financial services transaction in Canada. Historically, Evercore has been very strong in the large cap multinational sector, and this is obviously continuing.”

Consolidated U.S. GAAP and Adjusted Pro Forma Selected Financial Data (Unaudited)
			U.S. GAAP
			Three Months Ended												% Change vs.						Twelve Months Ended
			December 31, 2012				September 30, 2012				December 31, 2011				September 30, 2012			December 31, 2011			December 31, 2012				December 31, 2011				% Change
			(dollars in thousands)
Net Revenues			$	214,049			$	153,029			$	112,781			40	%		90	%		$	642,373			$	524,264			23	%
Operating Income (Loss)			$	42,238			$	14,245			$	(1,009	)		197	%		NM			$	65,535			$	35,812			83	%
Net Income (Loss) from Continuing
Operations Attributable to Evercore Partners Inc.			$	19,022			$	5,301			$	(3	)		259	%		NM			$	28,889			$	7,918			265	%
Diluted Earnings Per Share
from Continuing Operations			$	0.56			$	0.17			$	-			229	%		NM			$	0.89			$	0.27			230	%
Compensation Ratio				62.6	%			66.2	%			66.4	%									67.0	%			68.2	%
Operating Margin				19.7	%			9.3	%			(0.9	%)									10.2	%			6.8	%
			Adjusted Pro Forma
			Three Months Ended												% Change vs.						Twelve Months Ended
			December 31, 2012				September 30, 2012				December 31, 2011				September 30, 2012			December 31, 2011			December 31, 2012				December 31, 2011				% Change
			(dollars in thousands)
Net Revenues			$	212,029			$	149,247			$	111,624			42	%		90	%		$	638,912			$	520,352			23	%
Operating Income			$	57,020			$	29,391			$	19,605			94	%		191	%		$	131,794			$	105,845			25	%
Net Income from Continuing Operations
Attributable to Evercore Partners Inc.			$	35,303			$	17,275			$	14,067			104	%		151	%		$	78,080			$	63,129			24	%
Diluted Earnings Per Share
from Continuing Operations			$	0.81			$	0.40			$	0.32			103	%		153	%		$	1.78			$	1.48			20	%
Compensation Ratio				58.0	%			59.9	%			55.6	%									59.7	%			59.2	%
Operating Margin				26.9	%			19.7	%			17.6	%									20.6	%			20.3	%

The U.S. GAAP and Adjusted Pro Forma results for December 31, 2011 present the continuing operations of the Company, which exclude amounts related to Evercore Asset Management (“EAM”), whose operations were discontinued during the fourth quarter of 2011. See page A-1 for the full financial results of the Company including its discontinued operations.

« First ‹ Previous 1 2 3 4 5 6 7 8 9 ... Next › Last »