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DUFF & PHELPS CORPORATION AGAIN ANNOUNCES RECORD EARNINGS

 CHICAGO, Aug. 4 /PRNewswire/ -- Duff & Phelps Corporation today announced that earnings per share reached another high, increasing for the sixth consecutive quarter since becoming a publicly-owned company. Earnings for the quarter ended June 30, 1993, increased 33 percent to 32 cents per share compared to 24 cents per share, before an extraordinary item, in the second quarter of 1992. After an extraordinary loss associated with bank debt, net earnings were 22 cents per share in the second quarter of 1992. Revenues for the 1993 second quarter were $25.0 million, an increase of 23 percent over the 1992 second quarter.
 Francis E. Jeffries, chairman of Duff & Phelps Corporation said, "We are very happy to announce another quarter of record earnings. The second quarter revenues and per share earnings both set new records for Duff & Phelps. Increased investment management and credit rating activities were the major factors contributing to the excellent earnings."
 Earnings for the six-month period ended June 30, 1993 were 11.4 million or 63 cents per share compared with earnings of 7.0 million or 43 cents per share, before an extraordinary item, in the 1992 period. An extraordinary loss in the 1992 first half reduced net income to $1.1 million or 7 cents per share. The loss was recorded due to early redemption of senior subordinated debt and early repayment of bank debt. Revenues increased to $48.7 million in 1993 from 40.6 million in the 1992 first half.
 At the end of the 1993 second quarter, FS Equity Partners II, L.P., a limited partnership of which Freeman Spogli & Co. is the general partner, distributed its Duff & Phelps shares to its limited partners and is no longer a major shareholder of Duff & Phelps. Consequently, Ronald P. Spogli and Mark J. Doran, representatives of Freeman Spogli & Co., resigned as directors of Duff & Phelps.
 Duff & Phelps provides investment management, credit rating, investment research and financial consulting services to institutions, corporations and individuals.
 DUFF & PHELPS CORPORATION
 Quarter Ended June 30, 1993 1992
 Revenues $24,988,000 $20,322,000
 Income before
 extraordinary item 5,582,000 4,514,000
 Extraordinary item(A) --- (484,000)
 Net Income 5,582,000 4,030,000
 Earnings per share:
 Income before
 extraordinary item $ 0.32 $0.24
 Net Income 0.32 0.22
 Average Shares 17,370,000 18,613,000
 Six months Ended
 June 30, 1993 1992
 Revenue $48,686,000 $40,607,000
 Income before
 extraordinary item 11,423,000 7,023,000
 Extraordinary item(A) --- (5,932,000)
 Net income $11,423,000 1,097,000
 Earnings per share:
 Income before
 extraordinary item $0.63 $0.43
 Net Income .63 .07
 Average Shares 17,994,000 16,292,000
 (A)Loss on early extinguishment of debt; figures in parenthesis are
 losses
 -0- 8/4/93
 /CONTACT: Francis E. Jeffries, chairman and CEO, of Duff & Phelps Corporation, 312-630-4501/
 (DUF)


CO: Duff & Phelps Corporation ST: Illinois IN: FIN SU: ERN

MP -- NY055 -- 9377 08/04/93 12:29 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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