- Belongings beneath administration finished the third quarter at $33.three billion.
- Qthree 2020 income decreased eight % to $threethree.9 million from Qthree 2019.
- Qthree 2020 GAAP diluted earnings per share decreased to $zero.16 from $zero.19 in Q3 2019.
- Board declared a quarterly dividend of $zero.03 per share.
NEW YORK, Oct. 20, 2020 (GLOBE NEWSWIRE) — Pzena Funding Administration, Inc. (NYSE: PZN) reported the next U.S. Usually Accepted Accounting Rules (GAAP) primary and diluted web revenue and earnings per share for the three and 9 months ended September 30, 2020 and 2019 (in 1000’s, besides per-share quantities):
| GAAP Foundation | |||||||
| For the Three Months Ended | |||||||
| September 30, | |||||||
| 2020 | 2019 | ||||||
| (unaudited) | |||||||
| Primary Web Revenue | $ | 2,664 | $ | three,478 | |||
| Primary Earnings per Share | $ | zero.16 | $ | zero.19 | |||
| Diluted Web Revenue | $ | 12,374 | $ | 13,768 | |||
| Diluted Earnings per Share | $ | zero.16 | $ | zero.19 | |||
| GAAP Foundation | |||||||
| For the 9 Months Ended | |||||||
| September 30, | |||||||
| 2020 | 2019 | ||||||
| (unaudited) | |||||||
| Primary Web Revenue | $ | four,862 | $ | 9,944 | |||
| Primary Earnings per Share | $ | zero.28 | $ | zero.55 | |||
| Diluted Web Revenue1 | $ | four,862 | $ | 39,793 | |||
| Diluted Earnings per Share1 | $ | zero.28 | $ | zero.54 | |||
1 Through the 9 months ended September 30, 2020, the calculation of GAAP diluted earnings per share resulted in a rise in earnings per share. Due to this fact, diluted web revenue and diluted earnings per share are assumed to be equal to primary web revenue and primary earnings per share.
GAAP diluted web revenue and GAAP diluted earnings per share had been $12.four million and $zero.16, respectively, for the three months ended September 30, 2020, and $13.eight million and $zero.19, respectively, for the three months ended September 30, 2019. GAAP diluted web revenue and GAAP diluted earnings per share had been $four.9 million and $zero.28, respectively, for the 9 months ended September 30, 2020, and $39.eight million and $zero.54, respectively, for the 9 months ended September 30, 2019.
In evaluating the outcomes of operations, administration additionally evaluations adjusted measures of earnings, that are adjusted to exclude accounting objects that add a measure of non-operational complexity which obscures the underlying efficiency of the enterprise. For the three and 9 months ended September 30, 2020 and 2019, no changes had been made to GAAP earnings.
Web revenue for diluted earnings per share usually assumes all working firm membership models are transformed into Firm inventory firstly of the reporting interval, and the ensuing change to Firm web revenue related to its elevated curiosity within the working firm is taxed on the Firm’s efficient tax fee, unique of the changes famous above and different changes. When this conversion leads to a rise in earnings per share or a lower in loss per share, diluted web revenue and diluted earnings per share are assumed to be equal to primary web revenue and primary earnings per share for the reporting interval.
| Belongings Beneath Administration (unaudited) | |||||||||||||||||||
| ($ billions) | |||||||||||||||||||
| For the Three Months Ended | For the Twelve Months Ended | ||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||||||
| 2020 | 2020 | 2019 | 2020 | 2019 | |||||||||||||||
| Individually Managed Accounts | |||||||||||||||||||
| Belongings | |||||||||||||||||||
| Starting of Interval | $ | 13.zero | $ | 10.eight | $ | 13.9 | $ | 13.7 | $ | 14.6 | |||||||||
| Inflows | zero.2 | zero.7 | zero.four | 2.6 | 2.zero | ||||||||||||||
| Outflows | (zero.three | ) | (zero.5 | ) | (zero.three | ) | (1.four | ) | (1.9 | ) | |||||||||
| Web Flows | (zero.1 | ) | zero.2 | zero.1 | 1.2 | zero.1 | |||||||||||||
| Market Appreciation/(Depreciation) | zero.1 | 1.9 | (zero.2 | ) | (2.zero | ) | (zero.eight | ) | |||||||||||
| Overseas Trade1 | zero.three | zero.1 | (zero.1 | ) | zero.four | (zero.2 | ) | ||||||||||||
| Finish of Interval | $ | 13.three | $ | 13.zero | $ | 13.7 | $ | 13.three | $ | 13.7 | |||||||||
| Sub-Suggested Accounts | |||||||||||||||||||
| Belongings | |||||||||||||||||||
| Starting of Interval Belongings | $ | 16.four | $ | 14.three | $ | 21.1 | $ | 19.eight | $ | 22.2 | |||||||||
| Inflows | 2.5 | zero.7 | zero.four | 5.2 | 2.four | ||||||||||||||
| Outflows | (1.2 | ) | (1.four | ) | (1.four | ) | (four.2 | ) | (three.three | ) | |||||||||
| Web Flows | 1.three | (zero.7 | ) | (1.zero | ) | 1.zero | (zero.9 | ) | |||||||||||
| Market Appreciation/(Depreciation) | zero.2 | 2.7 | (zero.2 | ) | (three.zero | ) | (1.three | ) | |||||||||||
| Overseas Trade1 | zero.1 | zero.1 | (zero.1 | ) | zero.2 | (zero.2 | ) | ||||||||||||
| Finish of Interval | $ | 18.zero | $ | 16.four | $ | 19.eight | $ | 18.zero | $ | 19.eight | |||||||||
| Pzena Funds | |||||||||||||||||||
| Belongings | |||||||||||||||||||
| Starting of Interval Belongings | $ | 2.1 | $ | 1.7 | $ | 2.three | $ | 2.three | $ | 2.1 | |||||||||
| Inflows | zero.1 | zero.1 | zero.1 | zero.four | zero.6 | ||||||||||||||
| Outflows | (zero.2 | ) | — | — | (zero.5 | ) | (zero.three | ) | |||||||||||
| Web Flows | (zero.1 | ) | zero.1 | zero.1 | (zero.1 | ) | zero.three | ||||||||||||
| Market Appreciation/(Depreciation) | — | zero.three | (zero.1 | ) | (zero.2 | ) | (zero.1 | ) | |||||||||||
| Overseas Trade1 | — | — | — | — | — | ||||||||||||||
| Finish of Interval | $ | 2.zero | $ | 2.1 | $ | 2.three | $ | 2.zero | $ | 2.three | |||||||||
| Complete | |||||||||||||||||||
| Belongings | |||||||||||||||||||
| Starting of Interval | $ | 31.5 | $ | 26.eight | $ | 37.three | $ | 35.eight | $ | 38.9 | |||||||||
| Inflows | 2.eight | 1.5 | zero.9 | eight.2 | 5.zero | ||||||||||||||
| Outflows | (1.7 | ) | (1.9 | ) | (1.7 | ) | (6.1 | ) | (5.5 | ) | |||||||||
| Web Flows | 1.1 | (zero.four | ) | (zero.eight | ) | 2.1 | (zero.5 | ) | |||||||||||
| Market Appreciation/(Depreciation) | zero.three | four.9 | (zero.5 | ) | (5.2 | ) | (2.2 | ) | |||||||||||
| Overseas Trade1 | zero.four | zero.2 | (zero.2 | ) | zero.6 | (zero.four | ) | ||||||||||||
| Finish of Interval | $ | 33.three | $ | 31.5 | $ | 35.eight | $ | 33.three | $ | 35.eight | |||||||||
1 Overseas trade displays the impression of translating non-U.S. greenback denominated AUM into U.S. dollars for reporting functions.
| Monetary Dialogue | |||||||||||
| Income (unaudited) | |||||||||||
| ($ 1000’s) | |||||||||||
| For the Three Months Ended | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2020 | 2020 | 2019 | |||||||||
| Individually Managed Accounts | $ | 18,457 | $ | 16,738 | $ | 18,548 | |||||
| Sub-Suggested Accounts | 11,880 | 10,262 | 14,651 | ||||||||
| Pzena Funds | three,611 | three,131 | three,866 | ||||||||
| Complete | $ | 33,948 | $ | 30,131 | $ | 37,zero65 | |||||
| For the 9 Months Ended | |||||||||||
| September 30, | September 30, | ||||||||||
| 2020 | 2019 | ||||||||||
| Individually Managed Accounts | $ | 53,891 | $ | 55,959 | |||||||
| Sub-Suggested Accounts | 34,851 | 44,715 | |||||||||
| Pzena Funds | 10,zero16 | 11,644 | |||||||||
| Complete | $ | 98,758 | $ | 112,318 | |||||||
Income was $33.9 million for the third quarter of 2020, a rise of 12.7% from $30.1 million for the second quarter of 2020, and a lower of eight.four% from $37.1 million for the third quarter of 2019.
There have been no efficiency charges acknowledged within the third or second quarters of 2020, in comparison with $zero.three million for the third quarter of 2019.
Common property beneath administration for the third quarter of 2020 had been $33.1 billion, growing 11.1% from $29.eight billion for the second quarter of 2020, and lowering eight.1% from $36.zero billion for the third quarter of 2019. The rise from the second quarter of 2020, displays web inflows and market appreciation. The lower from third quarter of 2019 primarily displays market depreciation throughout the first quarter of 2020, partially offset by web inflows.
The weighted common payment fee was zero.410% for the third quarter of 2020, growing from zero.404% for the second quarter of 2020, and lowering from zero.412% for the third quarter of 2019.
The weighted common payment fee for individually managed accounts was zero.549% for the third quarter of 2020, lowering barely from zero.552% for the second quarter of 2020 and growing from zero.543% for the third quarter of 2019. The rise from the third quarter of 2019 primarily displays the addition of property to sure methods that sometimes carry larger payment charges.
The weighted common payment fee for sub-advised accounts was zero.270% for the third quarter of 2020, growing from zero.260% for the second quarter of 2020 and lowering from zero.292% for the third quarter of 2019. The rise from the second quarter of 2020 displays a shift in property to methods that sometimes carry larger payment charges. Sure accounts associated to 1 retail consumer relationship have fulcrum payment preparations. These payment preparations require a discount within the base payment or permit for a efficiency payment if the related funding technique underperforms or outperforms, respectively, the agreed-upon benchmark over the contract’s measurement interval, which extends to a few years. Through the third quarter of 2020, second quarter of 2020, and third quarter of 2019 we acknowledged a $1.zero million, $1.zero million, and $zero.5 million discount in base charges, respectively, associated to this consumer relationship. To the extent the three-year efficiency document of this account fluctuates relative to its related benchmark, the quantity of base charges acknowledged could differ. The impression of those fulcrum payment preparations in addition to the lower in efficiency charges acknowledged is mirrored within the lower of the weighted common payment fee from the third quarter of 2019.
The weighted common payment fee for Pzena funds was zero.687% for the third quarter of 2020, growing from zero.659% for the second quarter of 2020, and from zero.680% for the third quarter of 2019. The rise from the second quarter of 2020 displays a lower in fund expense cap reimbursements related to the closure of 1 Pzena mutual fund throughout the third quarter. The rise from the third quarter of 2019 displays a shift in asset combine towards merchandise in methods that sometimes carry larger payment charges.
Complete working bills had been $19.zero million for the third quarter of 2020, lowering from $19.2 million for the second quarter of 2020 and from $19.9 million for the third quarter of 2019. The lower from the second quarter of 2020 and third quarter of 2019 displays a lower typically and administrative bills, primarily pushed by a lower in journey and leisure expense charges.
| Working Bills (unaudited) | |||||||||||
| ($ 1000’s) | |||||||||||
| For the Three Months Ended | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2020 | 2020 | 2019 | |||||||||
| Compensation and Advantages Expense | $ | 15,808 | $ | 15,578 | $ | 16,zero12 | |||||
| Basic and Administrative Expense | three,183 | three,575 | three,905 | ||||||||
| Working Bills | $ | 18,991 | $ | 19,153 | $ | 19,917 | |||||
| For the 9 Months Ended | |||||||||||
| September 30, | September 30, | ||||||||||
| 2020 | 2019 | ||||||||||
| Compensation and Advantages Expense | $ | 50,526 | $ | 49,220 | |||||||
| Basic and Administrative Expense | 11,180 | 12,186 | |||||||||
| Working Bills | $ | 61,706 | $ | 61,406 | |||||||
As of September 30, 2020, worker headcount was 121, up from 120 at June 30, 2020, and from 119 at September 30, 2019.
The working margin was 44.1% for the third quarter of 2020, in comparison with 36.four% for the second quarter of 2020, and 46.three% for the third quarter of 2019. The rise in working margin from the second quarter of 2020 is primarily pushed by the rise in income.
Different revenue/ (expense) was revenue of roughly $zero.5 million for the third quarter of 2020, revenue of $three.2 million for the second quarter of 2020, and revenue of lower than $zero.1 million for the third quarter of 2019.
Different revenue/ (expense) primarily displays the fluctuations within the positive aspects/ losses and different funding revenue acknowledged by the Firm on its direct fairness investments, the vast majority of that are held to fulfill obligations beneath its deferred compensation plan. Different revenue/ (expense) additionally features a portion of positive aspects/ (losses) and different funding revenue acknowledged by exterior traders on their investments in funding partnerships that the Firm consolidates, that are offset in web revenue attributable to non-controlling pursuits.
| Different Revenue/ (Expense) (unaudited) | |||||||||||
| ($ 1000’s) | |||||||||||
| For the Three Months Ended | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2020 | 2020 | 2019 | |||||||||
| Web Curiosity and Dividend Revenue | $ | 187 | $ | 145 | $ | 431 | |||||
| Beneficial properties/ (Losses) and Different Funding Revenue | 295 | three,zero50 | (342 | ) | |||||||
| Different Revenue/ (Expense) | 52 | 47 | (75 | ) | |||||||
| GAAP Different Revenue/ (Expense) | 534 | three,242 | 14 | ||||||||
| Outdoors Pursuits of Funding Partnerships1 | (83 | ) | (234 | ) | (four | ) | |||||
| As Adjusted Different Revenue/ (Expense), Web of Outdoors Pursuits | $ | 451 | $ | three,008 | $ | 10 | |||||
| For the 9 Months Ended | |||||||||||
| September 30, | September 30, | ||||||||||
| 2020 | 2019 | ||||||||||
| Web Curiosity and Dividend Revenue | $ | 572 | $ | 1,070 | |||||||
| Beneficial properties/ (Losses) and Different Funding Revenue | (6,165 | ) | 1,498 | ||||||||
| Different Revenue | 13 | (174 | ) | ||||||||
| GAAP Different Revenue/ (Expense) | (5,580 | ) | 2,394 | ||||||||
| Outdoors Pursuits of Funding Partnerships1 | (three | ) | (170 | ) | |||||||
| As Adjusted Different Revenue/ (Expense), Web of Outdoors Pursuits | $ | (5,583 | ) | $ | 2,224 | ||||||
1 Represents the non-controlling curiosity allocation of the revenue of the Firm’s consolidated funding partnerships to its exterior traders.
The Firm acknowledged an revenue tax good thing about $zero.1 million for the third quarter of 2020, and revenue tax bills of $1.four million for the second quarter of 2020 and $zero.2 million for the third quarter of 2019. The third quarter of 2020 revenue tax profit displays a $1.6 million profit related to the reversal of unsure tax place liabilities and curiosity associated to unincorporated and different enterprise tax bills because of the expiration of the statute of limitations. The third quarter of 2019 revenue tax expense displays $1.6 million of such profit.
Particulars of the revenue tax expense are proven under:
| Revenue Tax Expense (unaudited) | |||||||||||
| ($ 1000’s) | |||||||||||
| For the Three Months Ended | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2020 | 2020 | 2019 | |||||||||
| Company Revenue Tax Expense | $ | 961 | $ | 797 | $ | 1,124 | |||||
| Unincorporated and Different Enterprise Tax Expense | (1,zero44 | ) | 574 | (878 | ) | ||||||
| Revenue Tax Expense | $ | (83 | ) | $ | 1,371 | $ | 246 | ||||
| For the 9 Months Ended | |||||||||||
| September 30, | September 30, | ||||||||||
| 2020 | 2019 | ||||||||||
| Company Revenue Tax Expense | $ | 2,129 | $ | three,540 | |||||||
| Unincorporated and Different Enterprise Tax Expense | 151 | 613 | |||||||||
| Revenue Tax Expense | $ | 2,280 | $ | four,153 | |||||||
Particulars of the web revenue attributable to non-controlling pursuits of the Firm’s working firm and consolidated subsidiaries are proven under:
| GAAP Non-Controlling Pursuits (unaudited) | |||||||||||
| ($ 1000’s) | |||||||||||
| For the Three Months Ended | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2020 | 2020 | 2019 | |||||||||
| Working Firm Allocation | $ | 12,827 | $ | 10,417 | $ | 13,434 | |||||
| Outdoors Pursuits of Funding Partnerships1 | 83 | 234 | four | ||||||||
| GAAP Web Revenue Attributable to Non-Controlling Pursuits | $ | 12,910 | $ | 10,651 | $ | 13,438 | |||||
| For the 9 Months Ended | |||||||||||
| September 30, | September 30, | ||||||||||
| 2020 | 2019 | ||||||||||
| Working Firm Allocation | $ | 24,327 | $ | 39,zero39 | |||||||
| Outdoors Pursuits of Funding Partnerships1 | three | 170 | |||||||||
| GAAP Web Revenue Attributable to Non-Controlling Pursuits | $ | 24,330 | $ | 39,209 | |||||||
1 Represents the non-controlling curiosity allocation of the revenue of the Firm’s consolidated funding partnerships to its exterior traders.
On October 20, 2020, the Firm’s Board of Administrators accredited a quarterly dividend of $zero.03 per share of its Class A standard inventory. The next dates apply to the dividend:
| Document Date: | October 30, 2020 | |
| Cost Date: | November 20, 2020 | |
| Over the last twelve months, inclusive of the dividend famous above, the Firm declared complete dividends of $zero.55 per share of its Class A standard inventory. | ||
Third Quarter 2020 Earnings Name Data
Pzena Funding Administration, Inc. (NYSE: PZN) will maintain a convention name to debate the Firm’s monetary outcomes and outlook at 10:00 a.m. ET, Wednesday, October 21, 2020. The decision might be open to the general public.
Webcast Directions: To realize entry to the webcast, which might be “listen-only,” go to the Occasions web page within the Investor Relations space of the Firm’s web site, www.pzena.com.
Teleconference Directions: To realize entry to the convention name by way of phone, U.S. callers ought to dial 844-378-6482; Canada callers ought to dial 855-669-9657; worldwide callers ought to dial 412-317-5106. Please reference the Pzena Funding Administration name.
Replay: The convention name might be obtainable for replay via November four, 2020, on the net utilizing the data given above.
About Pzena Funding Administration
Pzena Funding Administration, LLC, the agency’s working firm, is a value-oriented funding administration agency. Based in 1995, Pzena Funding Administration has constructed a various, world consumer base. Extra agency and inventory data is posted at www.pzena.com.
Ahead-Trying Statements
This press launch could comprise, along with historic data, forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities and Trade Act of 1934, as amended. Ahead-looking statements present the Firm’s present views, expectations, or forecasts of future occasions and efficiency, and embody statements about our expectations, beliefs, plans, goals, intentions, assumptions and different statements that aren’t historic info. Phrases or phrases equivalent to “anticipate,” “consider,” “proceed,” “ongoing,” “estimate,” “count on,” “intend,” “could,” “plan,” “potential,” “predict,” “mission” or related phrases or phrases, or the negatives of these phrases or phrases, could determine forward-looking statements, however the absence of those phrases doesn’t essentially imply assertion shouldn’t be forward-looking.
Among the many elements that would trigger precise outcomes to vary from these expressed or implied by a forward-looking assertion are these described within the sections entitled “Danger Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” within the Firm’s Annual Report on Type 10-Okay, as filed with the SEC on March 10, 2020 and within the Firm’s Quarterly Experiences on Type 10-Q as filed with the SEC. These threat elements embody a pandemic or well being disaster, together with the COVID-19 pandemic, and its impression on monetary establishments, the worldwide financial or capital markets in addition to Pzena’s merchandise, shoppers, distributors and staff, and Pzena’s outcomes of operations, the total extent of which can be unknown. In mild of those dangers, uncertainties, assumptions, and elements, precise outcomes might differ materially from these expressed or implied within the forward-looking statements. You’re cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date said, or if no date is said, as of the date of this launch.
The Firm shouldn’t be beneath any obligation and doesn’t intend to make publicly obtainable any replace or different revisions to any forward-looking statements to mirror circumstances present after the date of this launch or to mirror the incidence of future occasions even when expertise or future occasions make it clear that any anticipated outcomes expressed or implied by these forward-looking statements is not going to be realized.
Jessica Doran, 212-355-1600 or [email protected]
| PZENA INVESTMENT MANAGEMENT, INC. | |||||||
| CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION | |||||||
| (in 1000’s) | |||||||
| As of | |||||||
| September 30, | December 31, | ||||||
| 2020 | 2019 | ||||||
| (unaudited) | |||||||
| ASSETS | |||||||
| Money and Money Equivalents | $ | 49,235 | $ | 52,480 | |||
| Restricted Money | 1,zero47 | 1,zero36 | |||||
| Due from Dealer | 120 | 149 | |||||
| Advisory Charges Receivable | 29,507 | 32,887 | |||||
| Investments | 26,701 | 55,934 | |||||
| Pay as you go Bills and Different Belongings | 5,267 | four,876 | |||||
| Proper-of-use Belongings | 12,143 | 13,860 | |||||
| Deferred Tax Asset | 29,669 | 32,683 | |||||
| Property and Gear, Web of Accrued | |||||||
| Depreciation of $5,679 and $four,765, respectively | four,667 | 5,547 | |||||
| TOTAL ASSETS | $ | 158,356 | $ | 199,452 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities: | |||||||
| Accounts Payable and Accrued Bills | $ | 28,470 | $ | 44,715 | |||
| As a result of Dealer | 163 | 40 | |||||
| Securities Bought Brief | 690 | — | |||||
| Legal responsibility to Promoting and Changing Shareholders | 28,652 | 28,652 | |||||
| Lease Liabilities | 12,482 | 14,235 | |||||
| Deferred Compensation Legal responsibility | 2,940 | three,600 | |||||
| TOTAL LIABILITIES | 73,397 | 91,242 | |||||
| Fairness: | |||||||
| Complete Pzena Funding Administration, Inc.’s Fairness | 25,695 | 31,444 | |||||
| Non-Controlling Pursuits | 59,264 | 76,766 | |||||
| TOTAL EQUITY | 84,959 | 108,210 | |||||
| TOTAL LIABILITIES AND EQUITY | $ | 158,356 | $ | 199,452 | |||
| PZENA INVESTMENT MANAGEMENT, INC. | |||||||||||||||
| UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (in 1000’s, besides share and per-share quantities) | |||||||||||||||
| For the Three Months Ended | For the 9 Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2020 | 2019 | 2020 | 2019 | ||||||||||||
| REVENUE | $ | 33,948 | $ | 37,zero65 | $ | 98,758 | $ | 112,318 | |||||||
| EXPENSES | |||||||||||||||
| Compensation and Advantages Expense | 15,808 | 16,zero12 | 50,526 | 49,220 | |||||||||||
| Basic and Administrative Expense | three,183 | three,905 | 11,180 | 12,186 | |||||||||||
| TOTAL OPERATING EXPENSES | 18,991 | 19,917 | 61,706 | 61,406 | |||||||||||
| Working Revenue | 14,957 | 17,148 | 37,zero52 | 50,912 | |||||||||||
| Different Revenue | 534 | 14 | (5,580 | ) | 2,394 | ||||||||||
| Revenue Earlier than Taxes | 15,491 | 17,162 | 31,472 | 53,306 | |||||||||||
| Revenue Tax Expense | (83 | ) | 246 | 2,280 | four,153 | ||||||||||
| Consolidated Web Revenue | 15,574 | 16,916 | 29,192 | 49,153 | |||||||||||
| Much less: Web Revenue Attributable to Non-Controlling Pursuits | 12,910 | 13,438 | 24,330 | 39,209 | |||||||||||
| Web Revenue Attributable to Pzena Funding Administration, Inc. | $ | 2,664 | $ | three,478 | $ | four,862 | $ | 9,944 | |||||||
| Earnings per Share – Primary and Diluted Attributable to Pzena Funding Administration, Inc. Frequent Stockholders: | |||||||||||||||
| Web Revenue for Primary Earnings per Share | $ | 2,664 | $ | three,478 | $ | four,862 | $ | 9,944 | |||||||
| Primary Earnings per Share | $ | zero.16 | $ | zero.19 | $ | zero.28 | $ | zero.55 | |||||||
| Primary Weighted Common Shares Excellent | 16,931,447 | 17,851,780 | 17,310,875 | 18,00zero,234 | |||||||||||
| Web Revenue for Diluted Earnings per Share1 | $ | 12,374 | $ | 13,768 | $ | four,862 | $ | 39,793 | |||||||
| Diluted Earnings per Share1 | $ | zero.16 | $ | zero.19 | $ | zero.28 | $ | zero.54 | |||||||
| Diluted Weighted Common Shares Excellent | 78,783,209 | 73,649,468 | 79,zero84,609 | 74,zero22,533 | |||||||||||
1 Through the 9 months ended September 30, 2020, the calculation of GAAP diluted earnings per share resulted in a rise in earnings per share. Due to this fact, diluted web revenue and diluted earnings per share are assumed to be equal to primary web revenue and primary earnings per share.
A PDF is offered at: http://ml.globenewswire.com/Useful resource/Obtain/9689f827-9821-4ef8-af54-8f68c2bdd5b7
