Calamos Asset Management Inc. (NASDAQ:CLMS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Calamos Asset Management Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 144.44% to $0.22 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Decreased 17.61% to $66.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Calamos Asset Management Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company beat the mean analyst estimate of $0.15. It beat the average revenue estimate of $66.32 million.
Quoting Management: “As investment performance continues to improve on several of our strategies, we expect that our net flows will also improve. We continued to add resources to our investment team in the second quarter, which reflects our commitment to our clients and our long-term confidence in the growth of the firm,” said John P. Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer.
“Our balance sheet remains strong, and we believe our ongoing share repurchase program is a positive for both our shareholders and the firm overall,” said Calamos.
Key Stats (on next page)…