Shareholder Servicing and Marketing Expenses

Shareholder servicing and marketing expenses for the third quarter of 2012 were $2.6 million, down 44% from $4.7 million for the third quarter of 2011, driven primarily by lower platform costs, reflecting a decrease in average assets under management in proprietary funds.

General and Administrative Expenses

Adjusted general and administrative expenses for the third quarter of 2012 were $8.7 million, a decrease of 8% from $9.5 million for the third quarter of 2011, due primarily to lower expenses across most categories.

GAAP general and administrative expenses for the third quarter of 2012 were $10.3 million, an increase of 9% from $9.5 million for the third quarter of 2011, due primarily to the offshore fund expense, party offset by the reason noted above.

Non-operating Income (Loss)

Adjusted non-operating income for the third quarter of 2012 was $2.4 million, compared to an adjusted non-operating loss of $4.7 million for the third quarter of 2011, primarily reflecting gains on seed capital investments in the third quarter of 2012, as compared to losses in the third quarter of 2011.

GAAP non-operating income for the third quarter of 2012 was $144.2 million, compared to GAAP non-operating loss of $6.2 million for the third quarter of 2011, 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 $11.2 million in the third quarter of 2011. The decrease was due primarily to lower taxable income and a true-up to reflect the finalization of the prior year’s tax return.

If you liked this article you might like

4 Stocks Under $10 Making Big Moves

Artio Global Investors Stock To Go Ex-dividend Monday (ART)

Artio Global Investors Stock To Go Ex-dividend Monday (ART)

Artio Global Investors Stock To Go Ex-dividend Monday (ART)

Artio Global Investors Stock To Go Ex-dividend Monday (ART)

Artio Global Investors Stock Hits New 52-Week Low (ART)

Artio Global Investors Stock Hits New 52-Week Low (ART)