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DUFF & PHELPS CORP Reports Operating Results (10-Q)

October 26, 2012 | About:
10qk

10qk

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DUFF & PHELPS CORP (DUF) filed Quarterly Report for the period ended 2012-09-30.

Duff & Phelps Corporation has a market cap of $565.5 million; its shares were traded at around $13.45 with a P/E ratio of 13.6 and P/S ratio of 1.4. The dividend yield of Duff & Phelps Corporation stocks is 2.7%. Duff & Phelps Corporation had an annual average earning growth of 52.1% over the past 5 years.

Highlight of Business Operations:

Operating income from the Alternative Asset Advisory segment increased $1,299 or 46.0% to $4,120 for the three months ended September 30, 2012, compared to $2,821 for the three months ended September 30, 2011. Segment operating income margin was 27.1% for the three months ended September 30, 2012, compared to 21.1% for the three months ended September 30, 2011. Segment operating income increased primarily as a result of higher revenue and a lower percentage of allocated costs, partially offset by higher direct compensation costs from an increase in average headcount between periods.

Operating income from the Investment Banking segment decreased $2,159 or 133.8% to a loss of $545 for the three months ended September 30, 2012, compared to a profit of $1,614 for the three months ended September 30, 2011. Operating income margin was a negative 2.1% for the three months ended September 30, 2012, compared to a positive 9.6% for the three months ended September 30, 2011. The decrease in segment operating income primarily resulted from higher direct compensation costs and a higher percentage of allocated costs, both from an increase in average headcount primarily from acquisitions, partially offset by an increase in revenue.

Financial Advisory segment operating income increased $7,296 or 24.0% to $37,660 for the nine months ended September 30, 2012, compared to $30,364 for the nine months ended September 30, 2011. Segment operating income margin, defined as segment operating income expressed as a percentage of segment revenue, was 19.4% for the nine months ended September 30, 2012, compared to 16.8% for the nine months ended September 30, 2011. Segment operating income increased primarily as a result of higher revenue and a lower percentage of allocated costs, partially offset by higher direct compensation costs from an increase in average headcount between periods.

Operating income from the Alternative Asset Advisory segment increased $1,306 or 14.0% to $10,651 for the nine months ended September 30, 2012, compared to $9,345 for the nine months ended September 30, 2011. Segment operating income margin was 25.0% for the nine months ended September 30, 2012, compared to 22.6% for the nine months ended September 30, 2011. Segment operating income increased primarily as a result of higher revenue and a lower percentage of allocated costs.

Operating income from the Investment Banking segment increased $7,473 or 790.0% to $8,419 for the nine months ended September 30, 2012, compared to $946 for the nine months ended September 30, 2011. Operating income margin was 9.1% for the nine months ended September 30, 2012, compared to 2.2% for the nine months ended September 30, 2011. The increase in segment operating income primarily resulted from higher revenue, partially offset by higher direct compensation costs and a higher percentage of allocated costs both from an increase in average headcount primarily from acquisitions.

Read the The complete Report

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