Saturday, 23 August 2014
Last updated 23 hours ago
May 7 2008 | 12:14pm ET
The first quarter numbers are in for GLG Partners and, for the most part, they’re good.
The firm reported net revenues of $131.4 million, 80% above the year-earlier period. The firm also reported an adjusted net income of $33.8 million, up 142.2% from the first quarter last year, and net assets under management of $24.6 billion as of the end of March 31, up 53.2 %.
However, GLG reported a net loss of $226.3 million primarily from the recognition of compensation related expenses associated with GLG's reverse merger, by which it went public, in November. The firm said there will be similar but diminishing GAAP compensation expenses quarterly, ending in the fourth quarter of 2012, related to the acquisition.
“Our financial performance to date reflects our ability to grow top line revenues while actively managing expenses” said Emmanuel Roman, co-CEO and managing director of GLG. “As our business evolves and grows, we will continue to invest in our risk and controls infrastructure while managing the bottom-line.”
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note