Evercore Partners Inc. (EVR, Financial) filed Quarterly Report for the period ended 2010-09-30.
Evercore Partners Inc. has a market cap of $542.9 million; its shares were traded at around $32.5 with a P/E ratio of 32 and P/S ratio of 1.6. The dividend yield of Evercore Partners Inc. stocks is 1.8%.EVR is in the portfolios of John Keeley of Keeley Fund Management, Murray Stahl of Horizon Asset Management, Chuck Royce of Royce& Associates.
Total Operating Expenses were $100.5 million for the three months ended September 30, 2010 as compared to $65.9 million for the three months ended September 30, 2009, a 52% increase. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $77.3 million for the three months ended September 30, 2010, an increase of $26.6 million, or 52%, versus expense of $50.7 million for the three months ended September 30, 2009. The increase was primarily due to the accrual of higher amounts of discretionary compensation, reflecting higher revenues, as well as compensation costs resulting from the expansion of existing businesses and our new businesses, which were not in operation during the three months ended September 30, 2009. Non-compensation expenses as a component of Operating Expenses, were $23.2 million for the three months ended September 30, 2010, an increase of $7.9 million, or 52%, over non-compensation operating expenses of $15.2 million for the three months ended September 30, 2009. Non-compensation operating expenses increased compared to 2009 primarily as a result of increased Occupancy and Equipment Rental, Travel and Related Expenses and Depreciation and Amortization, primarily driven by growth in the business, the addition of new businesses, including AS, and higher deal-related activity levels.
Total Other Expenses of $5.5 million for the three months ended September 30, 2010 related to compensation costs associated with unvested LP Units and certain other awards of $4.9 million and amortization of intangibles of $0.6 million. Total Other Expenses of $5.0 million for the three months ended September 30, 2009 related to compensation costs associated with unvested LP Units and certain other awards of $4.4 million and amortization of intangibles of $0.6 million.
Net revenues were $276.3 million for the nine months ended September 30, 2010; an increase of $72.3 million, or 35%, versus net revenues of $204.0 million for the nine months ended September 30, 2009. Investment Banking Revenue and Investment Management Revenue increased 17% and 306%, respectively, compared to the nine months ended September 30, 2009. See the segment discussion below for further information. Net revenues include interest expense on our Senior Notes.
Total Operating Expenses were $233.9 million for the nine months ended September 30, 2010 as compared to $180.3 million for the nine months ended September 30, 2009, a 30% increase. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $168.1 million for the nine months ended September 30, 2010, an increase of $29.7 million, or 21%, versus expense of $138.4 million for the nine months ended September 30, 2009. The increase was primarily due to the accrual of higher amounts of discretionary compensation, reflecting higher revenues and compensation costs resulting from the expansion of existing businesses and our new businesses, all of which were either not consolidated, or in operation, during the entire nine months ended September 30, 2009, offset by the priors year impact of sign-on costs incurred in conjunction with the appointment of our President and Chief Executive Officer. Non-compensation expenses as a component of Operating Expenses were $65.8 million for the nine months ended September 30, 2010, an increase of $23.9 million, or 57% over non-compensation operating expenses of $41.9 million for the nine months ended September 30, 2009. Non-compensation operating expenses increased compared to 2009 primarily as a result of increased Professional Fees, Travel and Related Expenses and Acquisition and Transition Costs, primarily driven by the addition of new businesses, including AS, and higher deal-related activity levels.
Total Other Expenses of $17.4 million for the nine months ended September 30, 2010 related to compensation costs associated with unvested LP Units and certain other awards of $15.7 million and amortization of intangibles of $1.7 million. Total Other Expenses of $22.9 million for the nine months ended September 30, 2009 related to compensation costs associated with unvested LP Units and certain other awards of $4.4 million, Special Charges of $16.1 million, Acquisition and Transition Costs of $0.8 million and amortization of intangibles of $1.6 million.
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Evercore Partners Inc. has a market cap of $542.9 million; its shares were traded at around $32.5 with a P/E ratio of 32 and P/S ratio of 1.6. The dividend yield of Evercore Partners Inc. stocks is 1.8%.EVR is in the portfolios of John Keeley of Keeley Fund Management, Murray Stahl of Horizon Asset Management, Chuck Royce of Royce& Associates.
Highlight of Business Operations:
Net revenues were $123.6 million for the three months ended September 30, 2010; an increase of $40.4 million, or 49%, versus net revenues of $83.2 million for the three months ended September 30, 2009. Investment Banking Revenue increased 38% compared to the three months ended September 30, 2009 while Investment Management Revenue increased 139% from the three months ended September 30, 2009, which included a full quarter of ASs results. See the Business Segments section below for a further discussion. Net revenues include interest expense on our Senior Notes.Total Operating Expenses were $100.5 million for the three months ended September 30, 2010 as compared to $65.9 million for the three months ended September 30, 2009, a 52% increase. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $77.3 million for the three months ended September 30, 2010, an increase of $26.6 million, or 52%, versus expense of $50.7 million for the three months ended September 30, 2009. The increase was primarily due to the accrual of higher amounts of discretionary compensation, reflecting higher revenues, as well as compensation costs resulting from the expansion of existing businesses and our new businesses, which were not in operation during the three months ended September 30, 2009. Non-compensation expenses as a component of Operating Expenses, were $23.2 million for the three months ended September 30, 2010, an increase of $7.9 million, or 52%, over non-compensation operating expenses of $15.2 million for the three months ended September 30, 2009. Non-compensation operating expenses increased compared to 2009 primarily as a result of increased Occupancy and Equipment Rental, Travel and Related Expenses and Depreciation and Amortization, primarily driven by growth in the business, the addition of new businesses, including AS, and higher deal-related activity levels.
Total Other Expenses of $5.5 million for the three months ended September 30, 2010 related to compensation costs associated with unvested LP Units and certain other awards of $4.9 million and amortization of intangibles of $0.6 million. Total Other Expenses of $5.0 million for the three months ended September 30, 2009 related to compensation costs associated with unvested LP Units and certain other awards of $4.4 million and amortization of intangibles of $0.6 million.
Net revenues were $276.3 million for the nine months ended September 30, 2010; an increase of $72.3 million, or 35%, versus net revenues of $204.0 million for the nine months ended September 30, 2009. Investment Banking Revenue and Investment Management Revenue increased 17% and 306%, respectively, compared to the nine months ended September 30, 2009. See the segment discussion below for further information. Net revenues include interest expense on our Senior Notes.
Total Operating Expenses were $233.9 million for the nine months ended September 30, 2010 as compared to $180.3 million for the nine months ended September 30, 2009, a 30% increase. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $168.1 million for the nine months ended September 30, 2010, an increase of $29.7 million, or 21%, versus expense of $138.4 million for the nine months ended September 30, 2009. The increase was primarily due to the accrual of higher amounts of discretionary compensation, reflecting higher revenues and compensation costs resulting from the expansion of existing businesses and our new businesses, all of which were either not consolidated, or in operation, during the entire nine months ended September 30, 2009, offset by the priors year impact of sign-on costs incurred in conjunction with the appointment of our President and Chief Executive Officer. Non-compensation expenses as a component of Operating Expenses were $65.8 million for the nine months ended September 30, 2010, an increase of $23.9 million, or 57% over non-compensation operating expenses of $41.9 million for the nine months ended September 30, 2009. Non-compensation operating expenses increased compared to 2009 primarily as a result of increased Professional Fees, Travel and Related Expenses and Acquisition and Transition Costs, primarily driven by the addition of new businesses, including AS, and higher deal-related activity levels.
Total Other Expenses of $17.4 million for the nine months ended September 30, 2010 related to compensation costs associated with unvested LP Units and certain other awards of $15.7 million and amortization of intangibles of $1.7 million. Total Other Expenses of $22.9 million for the nine months ended September 30, 2009 related to compensation costs associated with unvested LP Units and certain other awards of $4.4 million, Special Charges of $16.1 million, Acquisition and Transition Costs of $0.8 million and amortization of intangibles of $1.6 million.
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