The Adjusted Pro Forma compensation ratio for the current quarter was 60%, compared to 59% for the same period in 2011 and 63% for the quarter ended March 31, 2012. The Adjusted Pro Forma compensation ratio for the trailing twelve months was 60%, flat from the same period in 2011 and for the twelve months ended March 31, 2012. The U.S. GAAP compensation ratio for the three months ended June 30, 2012, June 30, 2011 and March 31, 2012 was 66%, 71% and 79%, respectively. The U.S. GAAP trailing twelve-month compensation ratio of 70% compares to 67% for the same period in 2011 and 71% for the twelve months ended March 31, 2012.

Evercore’s quarterly results may fluctuate significantly due to the timing and amount of transaction fees earned, as well as other factors. Accordingly, financial results in any particular quarter may not be representative of future results over a longer period of time.

“We are generally pleased with our results, reporting record revenues for both the second quarter and the first half of 2012, and record net income for the quarter,” said Ralph Schlosstein, President and Chief Executive Officer. “Our Advisory business delivered particularly strong results, earning fees in excess of $1 million dollars from 30 transactions, also a record. In addition, each of our early stage Investment Banking businesses contributed positively to Operating Income in the quarter. Our international Investment Banking efforts continued to strengthen, as 32% of our revenues were generated serving clients outside of the United States in the first half of the year. Our independent, advice based, operating model continues to perform extremely well despite the challenging market environment, as we build market share, add talent and deliver value to our clients. And, our significant share repurchase volumes during the quarter demonstrate our commitment to providing strong returns to shareholders.”

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