Printer Friendly

THOMSON ADVISORY GROUP REPORTS FOURTH QUARTER AND YEAR-END RESULTS

 THOMSON ADVISORY GROUP REPORTS FOURTH QUARTER AND YEAR-END RESULTS
 STAMFORD, Conn., Jan. 21 /PRNewswire/ -- Thomson Advisory Group L.P. (NYSE: TAG) today announced earnings for the three months ended Dec. 31, 1991, of $5.1 million or $.51 per unit, compared to $4.1 million or $.41 per unit for the fourth quarter of 1990. Revenues for the three months were $12.1 million, versus $9.1 million for the same period in 1990.
 For the year ended Dec. 31, 1991, earnings were $18.8 million or $1.88 per unit on revenues of $45.0 million. This includes a non- recurring increase in first quarter 1991 earnings and revenues of approximately $900,000 and $2.0 million, respectively, representing Thomson Advisory Group L.P.'s complete adoption of accrual accounting for asset management fees. For the year ended Dec. 31, 1990, earnings were $14.9 million or $1.50 per unit on revenues of $36.2 million.
 The partnership declared a fourth quarter distribution of $.32 per unit, plus a special year-end distribution of $.54 per unit for a total of $.86 per unit. The record date for this distribution will be Feb. 1, 1992. Payment date will be Feb. 10, 1992.
 Thomson Advisory Group L.P. also reported an increase in total assets under management to $9.5 billion, up from $6.8 billion a year earlier and $8.5 billion at Sept. 30, 1991. The partnership attributes a large part of this growth in assets primarily to strong market appreciation and to an increase in new separate account business throughout the year and particularly in the last quarter.
 As previously reported, Thomson Advisory Group L.P. is faced with the prospect of losing in September 1992 a substantial majority of the assets in its Cash Accumulation Trust money market funds upon the expiration of its current agreement with Prudential Securities. Such agreement provides, among other things, that the cash balances of certain Prudential customer accounts be invested in Thomson's Cash Accumulation Trust funds. The partnership would expect such a loss of assets to result in a significant decrease in revenue, without permitting a meaningful corresponding decrease in expenses, causing a material adverse impact on the partnership's earnings. The partnership noted that $10.6 million of its revenue for 1991 and $2.6 million of its revenue for the fourth quarter of 1991 came from Cash Accumulation Trust and approximately 80 percent of the assets in Cash Accumulation Trust during the fourth quarter were assets covered by the agreement with Prudential.
 Thomson Advisory Group L.P. manages the Thomson Fund Group mutual funds, and serves as an advisor to private accounts through its Columbus Circle Investors and Foxhall Investment Management divisions.
 THOMSON ADVISORY GROUP L.P
 Summary Consolidated Statements of Income
 (Unaudited, in thousands except per unit amounts)
 Period ended Three Months One Year
 Dec. 31 1991 1990 1991 1990
 Revenues $12,086 $9,130 $45,015(A) $36,164
 Net income 5,141 4,108 18,834(A) 14,959
 Net income per unit .51 .41 1.88(A) 1.50
 Quarterly distribution
 per unit .32 .32 1.28 1.28
 Special distribution per unit
 (payable following period) .54 .18 .54 .18
 Total distributions per unit(B) .86 .50 1.82 1.46
 12/31/91 12/31/90
 Assets under management (in billions) $9.5 $6.8
 (A) -- Includes first quarter 1991 non-recurring item of approximately $2.0 million in revenues and $900,000 in earnings ($.09 per unit), representing complete adoption of accrual accounting for asset management fees.
 (B) -- Represents distributions paid in arrears with respect to the three- and 12-month periods ending Dec. 31, 1991 and 1990, respectively.
 -0- 1/21/92
 /CONTACT: Lesley Cotten of Thomson Advisory Group, 203-352-4933/
 (TAG) CO: Thomson Advisory Group L.P. ST: Connecticut IN: FIN SU: ERN


GK-OS -- NY013 -- 1665 01/21/92 09:17 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 21, 1992
Words:648
Previous Article:KROGER PRELIMINARY FOURTH QUARTER 1991 SALES UP 2.9 PERCENT
Next Article:KROGER SIGNS NEW CREDIT AGREEMENT
Topics:


Related Articles
PIEDMONT MANAGEMENT REPORTS ANNUAL AND FOURTH QUARTER RESULTS FOR 1991
THOMSON ADVISORY GROUP REPORTS FIRST QUARTER EARNINGS AND DISTRIBUTION
THOMSON ADVISORY GROUP REPORTS SECOND QUARTER EARNINGS AND DISTRIBUTION
THOMSON ADVISORY GROUP REPORTS THIRD QUARTER EARNINGS AND DISTRIBUTION
THOMSON ADVISORY GROUP REPORTS FOURTH QUARTER AND YEAR-END RESULTS
THOMSON ADVISORY GROUP REPORTS SECOND QUARTER EARNINGS AND DISTRIBUTION
THOMSON ADVISORY GROUP REPORTS THIRD QUARTER EARNINGS AND DISTRIBUTION
THOMSON ADVISORY GROUP REPORTS FOURTH QUARTER EARNINGS AND DISTRIBUTION
THOMSON ADVISORY GROUP REPORTS SECOND QUARTER DISTRIBUTION AND EARNINGS
Ryan Beck & Co. Announces Fourth Quarter and Year End Earnings; Record Quarterly Revenue and Income Pushes 2003 ROE to More Than 16%.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters