- Revenues increased 21% over the same quarter of 2012 driven by record AUM of $17.1 billion.
- Westwood International Advisors (“WIA”) net inflows aggregated $440 million, including $385 million into our new Ireland domiciled UCITS Fund.
- WIA achieved profitable operating results during the quarter for the first time following our mid-2012 launch.
- Firmwide net inflows exceeded $554 million.
Westwood Holdings Group, Inc. (NYSE: WHG) today reported third quarter 2013 revenues of $23.0 million, a 21% increase compared to revenues of $18.9 million in the third quarter of 2012. Non-GAAP Economic Earnings per share (“Economic EPS”) were $0.97 compared to $0.76 in the same quarter of the prior year and $1.07 in the second quarter of 2013. Diluted earnings per share were $0.57 compared to $0.34 in the same quarter of 2012 and $0.65 in the second quarter of 2013. The second quarter of this year included performance fees of $2.5 million related to our MLP strategy that are recognized following the annual performance period. Highlights and significant items related to our third quarter 2013 pretax results include: