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Calamos Asset Management – CLMS – AUM for the quarter increased 10% to $36.2 billion

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Calamos Asset Management, Inc. (NASDAQ: CLMS), a diversified global investment firm offering equity, low-volatility equity, fixed income, convertible and alternative strategies, reported first quarter 2012 results.

Financial Highlights

  • Non-GAAP diluted earnings per share was $0.30, unchanged from last quarter and a decrease of $0.05 per share from a year ago.(2)  Non-GAAP net income attributed to Calamos Asset Management, Inc. (CAM) was $6.3 million compared to $6.1 million last quarter and $7.1 million a year ago.  These non-GAAP measures provide additional transparency in evaluating the operations of the company’s core asset management business.
  • GAAP diluted earnings per share for the first quarter was $0.34, compared to $0.00 per share last quarter (due primarily to a non-operating charge of $4.0 million) and $0.23 per share in the first quarter of last year.
  • Assets under management were $36.2 billion at March 31, 2012, a 10% increase from $32.8 billion at the end of last year driven primarily by market appreciation and a 5% decrease from $38.0 billion at March 31, 2011, driven primarily by net redemptions.
  • Revenues for the quarter increased by 4% to $85.3 million from $82.4 million in the previous quarter and decreased by 6% from $90.5 million in the first quarter of 2011.
  • Operating income was $31.1 million compared to $31.0 million in the previous quarter and a 17% decrease from $37.3 million in the same period of the prior year.
  • Operating margin was 36.4% for the current quarter, down from 37.6% in the previous quarter and down from 41.2% in the first quarter of 2011.
  • CAM’s board of directors declared a regular quarterly dividend of 9.5 cents per share, payable on June 4, 2012 to shareholders of record on May 21, 2012.

CLMS Management Commentary


“Calamos AUM for the quarter increased 10% to $36.2 billion mainly through asset appreciation as the equity markets had strong performance. Calamos growth equity strategies produced good performance as markets reacted to more positive U.S. economic data. Flows into Calamos equity mutual funds remained weak while institutional flows were positive. Similarly, the asset management industry experienced weak equity mutual fund flows as retail investors seem to be on the sidelines,” said John P. Calamos, Sr., chief executive officer and co-chief investment officer.

About Calamos Asset Management – CLMS

Calamos Asset Management, Inc. (CLMS) is a diversified global investment firm offering equity, low-volatility equity, fixed income, convertible and alternative investment strategies, among others. The firm serves institutions and individuals around the world via separately managed accounts and a family of open-end and closed-end funds as well as UCITS for non-U.S. investors, offering a risk-managed approach to capital appreciation and income-producing strategies.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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