virtus investment partners (VRTS) Snapshot

Virtus Investment Partners, Inc. Presents at Morgan Stanley Financials Conference 2013, Jun-12-2013 03:35 PM. Venue: Waldorf Astoria Hotel, 301 Park Avenue at 50th Street, New York, New York, United States. Speakers: George R. Aylward, President, Chief Executive Officer, and Director, Michael A. Angerthal, Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Treasurer.

Virtus Investment Partners, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $86,168,000 in the first quarter of 2013, an increase of 38% from $62,398,000 in the first quarter of 2012 and 9% from $78,900,000 in the sequential quarter, primarily from higher investment management fees resulting from the company's larger asset base. Operating income was $21,100,000 against $7,953,000 a year ago. Income before income taxes was $22,635,000 against $9,082,000 a year ago. Net income attributable to common stockholders was $13,960,000 or $1.73 per diluted share against $5,386,000 or $0.68 per diluted share a year ago. Revenues, as adjusted, increased by 36% to $64,492,000 from $47,411,000 in the prior-year quarter and by 9% from $59,200,000 in the fourth quarter. The increase from the prior periods is a result of the higher asset levels and an increase in the average net fee rate. Operating income, as adjusted was $25,074,000 against $15,987,000 a year ago.

Virtus Investment Partners, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on Apr 30, 2013