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Evercore Reports Second Quarter 2013 Results Quarterly Dividend Of $0.22 Per Share

Stocks in this article: EVR

Evercore Partners Inc. (NYSE: EVR) today announced that its U.S. GAAP Net Revenues were $207.4 million for the quarter ended June 30, 2013, compared to $172.5 million and $151.4 million for the quarters ended June 30, 2012 and March 31, 2013, respectively. U.S. GAAP Net Revenues were $358.9 million for the six months ended June 30, 2013, compared to $275.3 million for the six months ended June 30, 2012. U.S. GAAP Net Income Attributable to Evercore Partners Inc. was $16.4 million, or $0.44 per share, for the second quarter, compared to $7.9 million, or $0.25 per share, a year ago and $6.0 million, or $0.16 per share, last quarter. U.S. GAAP Net Income Attributable to Evercore Partners Inc. was $22.4 million, or $0.59 per share, for the six months ended June 30, 2013, compared to $4.6 million, or $0.14 per share, for the same period last year.

Adjusted Pro Forma Net Revenues were $206.8 million for the quarter ended June 30, 2013, compared with $172.1 million and $153.4 million for the quarters ended June 30, 2012 and March 31, 2013, respectively. Adjusted Pro Forma Net Revenues were $360.1 million for the six months ended June 30, 2013, compared with $277.6 million for the six months ended June 30, 2012. Adjusted Pro Forma Net Income Attributable to Evercore Partners Inc. was $29.5 million, or $0.65 per share, for the second quarter, compared to $21.2 million, or $0.49 per share, a year ago and $16.8 million, or $0.37 per share, last quarter. Adjusted Pro Forma Net Income Attributable to Evercore Partners Inc. was $46.4 million, or $1.01 per share, for the six months ended June 30, 2013, compared to $25.5 million, or $0.58 per share, for the same period last year.

The U.S. GAAP compensation ratio for the three months ended June 30, 2013, June 30, 2012 and March 31, 2013 was 63.5%, 66.3% and 67.4%, respectively. The U.S. GAAP trailing twelve-month compensation ratio of 64.6% compares to 69.6% for the twelve months ended June 30, 2012 and 65.4% for the twelve months ended March 31, 2013. The Adjusted Pro Forma compensation ratio for the current quarter was 58.9%, compared to 59.7% for the quarters ended June 30, 2012 and March 31, 2013. The Adjusted Pro Forma compensation ratio for the trailing twelve months was 59.0%, compared to 60.1% for the same period in 2012 and 59.2% for the twelve months ended March 31, 2013.

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