Calamos Asset Management Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $70,953,000 against $85,276,000 a year ago. Operating income was $22,115,000 against $31,053,000 a year ago. Income before income tax provision was $23,915,000 against $52,707,000 a year ago. Net income attributable to the company was $3,234,000 or $0.16 per basic and diluted share against $7,039,000 or $0.34 per diluted share a year ago. Non-GAAP net income attributable to the company was $5,061,000 or $0.24 per diluted share against $6,252,000 or $0.30 per diluted share a year ago. The change in non-GAAP earnings per share is driven primarily by lower revenues, slightly offset by lower operating expenses. GAAP diluted earnings per share decreased from the same quarter in the prior year, as lower revenues and non-operating income were partially offset by lower operating expenses. Net flows were negative $2.5 billion for the quarter. The company expected operating margin and earnings per share to remain under pressure as outflows persist during 2013 in certain of strategies that have performance challenges.

Calamos Asset Management Inc. announced the Board of Directors declared a regular quarterly dividend of 12.5 cents per share payable on June 3, 2013 to shareholders of record on May 20, 2013.

Calamos Asset Management Inc., Q1 2013 Earnings Call, May 07, 2013