Evercore Partners Inc. (EVR, Financial) filed Quarterly Report for the period ended 2010-06-30.
Evercore Partners Inc. has a market cap of $406.9 million; its shares were traded at around $23.75 with a P/E ratio of 22.4 and P/S ratio of 1.2. The dividend yield of Evercore Partners Inc. stocks is 2.5%.EVR is in the portfolios of Chuck Royce of Royce& Associates, Steven Cohen of SAC Capital Advisors.
Total Operating Expenses were $62.5 million for the three months ended June 30, 2010 as compared to $66.9 million for the three months ended June 30, 2009, a 7% decrease. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $40.8 million for the three months ended June 30, 2010, a decrease of $11.1 million, or 21%, versus expense of $51.9 million for the three months ended June 30, 2009. The decrease was primarily due to the accrual of lower amounts of discretionary compensation, reflecting lower revenues, as well as the prior years impact of sign-on costs incurred in conjunction with the appointment of our President and Chief Executive Officer, offset by compensation costs resulting from the expansion of existing businesses and our new businesses, including IE, which was not in operation during the three months ended June 30, 2009. Non-compensation expenses as a component of Operating Expenses, were $21.7 million for the three months ended June 30, 2010, an increase of $6.7 million, or 45% over non-compensation operating expenses of $15.0 million for the three months ended June 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 growth in the business, the addition of new businesses, including Atalanta, and higher deal-related activity levels.
Total Other Expenses of $5.6 million for the three months ended June 30, 2010 relate to compensation costs associated with unvested LP Units and certain other awards of $5.0 million and amortization of intangibles of $0.6 million. Total Other Expenses of $17.1 million for the three months ended June 30, 2009 related to Special Charges of $16.1 million, Acquisition and Transition Costs of $0.4 million and amortization of intangibles of $0.6 million.
Net revenues were $152.7 million for the six months ended June 30, 2010; an increase of $31.9 million, or 26%, versus net revenues of $120.8 million for the six months ended June 30, 2009. Investment Banking Revenue and Investment Management Revenue increased 4% and 902%, respectively, compared to the six months ended June 30, 2009. See the segment discussion below for further information. Net revenues include interest expense on our Senior Notes.
Total Operating Expenses were $133.4 million for the six months ended June 30, 2010 as compared to $114.4 million for the six months ended June 30, 2009, a 17% increase. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $90.8 million for the six months ended June 30, 2010, an increase of $3.0 million, or 3%, versus expense of $87.7 million for the six months ended June 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, including IE, all of which were either not consolidated, or in operation, during the entire six months ended June 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 $42.7 million for the six months ended June 30, 2010, an increase of $16.0 million, or 60% over non-compensation operating expenses of $26.7 million for the six months ended June 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 Atalanta, and higher deal-related activity levels.
Total Other Expenses of $11.9 million for the six months ended June 30, 2010 relate to compensation costs associated with unvested LP Units and certain other awards of $10.7 million and amortization of intangibles of $1.2 million. Total Other Expenses of $17.9 million for the six months ended June 30, 2009 related to Special Charges of $16.1 million, Acquisition and Transition Costs of $0.7 and amortization of intangibles of $1.0 million.
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Evercore Partners Inc. has a market cap of $406.9 million; its shares were traded at around $23.75 with a P/E ratio of 22.4 and P/S ratio of 1.2. The dividend yield of Evercore Partners Inc. stocks is 2.5%.EVR is in the portfolios of Chuck Royce of Royce& Associates, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
Net revenues were $64.8 million for the three months ended June 30, 2010; a decrease of $6.2 million, or 9%, versus net revenues of $71.0 million for the three months ended June 30, 2009. Investment Banking Revenue decreased 32% compared to the three months ended June 30, 2009 while Investment Management Revenue increased 654% from the three months ended June 30, 2009. See the Business Segments section below for a further discussion. Net revenues include interest expense on our Senior Notes.Total Operating Expenses were $62.5 million for the three months ended June 30, 2010 as compared to $66.9 million for the three months ended June 30, 2009, a 7% decrease. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $40.8 million for the three months ended June 30, 2010, a decrease of $11.1 million, or 21%, versus expense of $51.9 million for the three months ended June 30, 2009. The decrease was primarily due to the accrual of lower amounts of discretionary compensation, reflecting lower revenues, as well as the prior years impact of sign-on costs incurred in conjunction with the appointment of our President and Chief Executive Officer, offset by compensation costs resulting from the expansion of existing businesses and our new businesses, including IE, which was not in operation during the three months ended June 30, 2009. Non-compensation expenses as a component of Operating Expenses, were $21.7 million for the three months ended June 30, 2010, an increase of $6.7 million, or 45% over non-compensation operating expenses of $15.0 million for the three months ended June 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 growth in the business, the addition of new businesses, including Atalanta, and higher deal-related activity levels.
Total Other Expenses of $5.6 million for the three months ended June 30, 2010 relate to compensation costs associated with unvested LP Units and certain other awards of $5.0 million and amortization of intangibles of $0.6 million. Total Other Expenses of $17.1 million for the three months ended June 30, 2009 related to Special Charges of $16.1 million, Acquisition and Transition Costs of $0.4 million and amortization of intangibles of $0.6 million.
Net revenues were $152.7 million for the six months ended June 30, 2010; an increase of $31.9 million, or 26%, versus net revenues of $120.8 million for the six months ended June 30, 2009. Investment Banking Revenue and Investment Management Revenue increased 4% and 902%, respectively, compared to the six months ended June 30, 2009. See the segment discussion below for further information. Net revenues include interest expense on our Senior Notes.
Total Operating Expenses were $133.4 million for the six months ended June 30, 2010 as compared to $114.4 million for the six months ended June 30, 2009, a 17% increase. Employee Compensation and Benefits Expense, as a component of Operating Expenses, was $90.8 million for the six months ended June 30, 2010, an increase of $3.0 million, or 3%, versus expense of $87.7 million for the six months ended June 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, including IE, all of which were either not consolidated, or in operation, during the entire six months ended June 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 $42.7 million for the six months ended June 30, 2010, an increase of $16.0 million, or 60% over non-compensation operating expenses of $26.7 million for the six months ended June 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 Atalanta, and higher deal-related activity levels.
Total Other Expenses of $11.9 million for the six months ended June 30, 2010 relate to compensation costs associated with unvested LP Units and certain other awards of $10.7 million and amortization of intangibles of $1.2 million. Total Other Expenses of $17.9 million for the six months ended June 30, 2009 related to Special Charges of $16.1 million, Acquisition and Transition Costs of $0.7 and amortization of intangibles of $1.0 million.
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