Calamos Asset Management Inc. (NASDAQ:CLMS) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Calamos Asset Management Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 29.41% to $0.24 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Decreased 34.47% to $71 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Calamos Asset Management Inc. reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.18. It missed the average revenue estimate of $71.54 million.
Quoting Management: “We are encouraged by inflows into our global and international equity strategies, as well as into our alternative strategies, which we see as key contributors to our growth going forward,” said John P. Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer.
Key Stats (on next page)…