Evercore Partners Q1 Profit Rises - Quick Facts

(RTTNews) - Evercore Partners Inc. (EVR), an independent investment banking advisory firm, Wednesday said first-quarter net income attributable to the company increased to $10.57 million from $5.95 million. Earnings per share advanced to $0.25 from $0.16.

Net income from continuing operations was $13.4 million or $0.25 per share, compared to $9.3 million, or $0.16 per share a year ago.

Adjusted pro forma net income from continuing operations attributable to Evercore Partners Inc. was $14.7 million or $0.31 per share, while it totaled $16.7 million or $0.36 per share last year.

On average, 8 analysts polled by Thomson Reuters expected earnings of $0.51 per share. Analysts estimates typically exclude special items.

Net revenues fell to $149.1 million from $152.6 million in the prior year. Adjusted pro forma net revenues slid to $149.0 million from $152.9 million. Analysts expected revenues of $184.17 million.

Ralph Schlosstein, President and Chief Executive Officer, said, "Our results in the first quarter were affected by the delay in the closing of meaningful transactions and the seasonality that we have experienced in previous first quarters.''

On April 21, the Board of Directors of Evercore declared a quarterly dividend of $0.25 per share to be paid on June 13 to common stockholders of record on May 30.