Virtus investment partners, inc. (VRTS)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues [Abstract]
Revenues

144,566

146,084

145,955

140,489

130,718

138,065

152,210

132,932

129,028

128,024

123,675

94,132

79,776

79,850

82,324

80,085

80,295

86,115

92,375

99,656

103,831

112,137

117,841

112,749

107,871

106,498

100,409

96,140

86,168

78,919

71,951

66,818

62,398

56,172

55,457

48,902

44,121

35,582

34,788

Operating Expenses
Employment expenses

66,130

60,265

61,282

58,123

60,851

59,668

63,269

54,868

60,696

54,602

54,159

42,992

39,641

33,457

33,142

33,065

35,977

34,376

33,504

33,593

35,622

34,053

35,246

35,481

35,029

33,457

33,022

32,878

32,411

27,847

25,899

25,507

26,318

24,398

25,526

23,050

19,569

15,910

15,458

Distribution and other asset-based expenses

19,409

20,086

20,927

21,322

19,764

21,043

25,386

23,721

22,291

20,348

20,552

15,764

15,323

16,136

17,380

17,432

18,101

19,831

21,717

23,676

24,507

27,526

29,180

39,222

27,737

26,653

25,253

24,252

21,628

19,727

17,764

15,796

18,923

13,482

23,250

12,367

11,077

8,217

7,786

Other Cost and Expense, Operating

18,885

-

18,228

19,174

18,723

-

20,350

19,128

16,862

-

17,733

20,236

13,226

-

11,392

12,457

10,765

-

11,165

23,512

16,726

-

11,288

13,130

10,534

10,543

8,538

10,283

8,957

8,743

8,346

9,035

7,893

7,435

7,436

7,936

7,350

6,742

7,434

Restructuring and severance

0

283

523

320

1,176

87

0

0

0

-

1,584

8,894

-

-

1,879

2,391

-

-

0

0

-

-

294

-

-

0

0

0

203

-

555

794

-

1,260

7

594

147

228

1,100

Other operating expenses of consolidated sponsored investment products

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

797

331

-

231

132

184

-

154

-

-

-

0

-

-

-

-

Depreciation expense

1,258

1,263

1,245

1,271

1,213

1,293

1,189

1,100

1,015

1,019

1,038

776

664

700

754

776

862

881

910

873

779

723

713

670

657

640

610

597

575

616

435

436

323

420

453

485

489

513

500

Amortization expense

7,533

7,533

7,587

7,583

7,541

7,541

7,541

5,024

5,036

5,064

5,063

1,813

233

603

604

603

651

784

837

837

837

927

947

947

957

1,062

1,125

1,116

1,110

1,105

1,031

997

988

983

978

1,011

1,046

1,075

1,293

Total operating expenses

119,964

108,288

110,168

110,361

109,719

108,837

118,264

105,624

106,411

100,009

106,886

90,948

69,729

67,067

65,786

71,342

67,545

69,609

69,253

83,448

79,289

75,472

78,914

90,247

75,245

72,606

68,779

69,258

65,068

58,447

54,184

52,565

54,445

47,978

57,650

45,443

39,678

32,685

33,571

Operating Income (Loss)

24,602

37,796

35,787

30,128

20,999

29,228

33,946

27,308

22,617

28,015

16,789

3,184

10,047

12,783

16,538

8,743

12,750

16,506

23,122

16,208

24,542

36,665

38,927

22,502

32,626

33,892

31,630

26,882

21,100

20,472

17,767

14,253

7,953

8,194

-2,193

3,459

4,443

2,897

1,217

Other Income (Expense)
Realized and unrealized gain on trading securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

629

-214

1,224

-

-1,576

278

561

1,024

-526

Realized and unrealized (loss) gain on investments of consolidated sponsored investment products, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,444

36

-

324

-3,156

372

-

541

-

-

-

-

-

-

-

-

Other income (expense), net

612

519

746

696

450

966

549

455

1,319

506

436

47

646

626

250

-15

228

75

141

247

435

318

233

189

151

-8

111

-11

-18

-

-16

-

-

14

4

3

-215

4

3

Total other income (expense), net

-15,601

-1,568

-4,596

12,455

1,962

-22,272

-4,560

-364

4,016

-2,404

15,268

-90

5,387

-5,116

4,891

6,944

2,100

-7,287

-20,281

-2,652

3,570

-6,278

-6,136

7,538

2,033

6,430

1,720

-3,390

1,179

1,761

1,154

-214

1,224

495

-1,572

281

346

1,028

-523

Interest Income (Expense)
Interest Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

123

-

149

125

138

148

207

206

221

183

196

274

201

190

189

192

211

228

267

Total interest income (expense), net

2,296

4,880

5,012

-5,896

3,726

4,457

5,198

5,750

3,717

4,583

-1,908

-1,186

2,744

4,782

1,716

-900

4,576

5,030

3,125

3,279

2,481

3,062

2,399

1,858

1,118

981

519

609

356

631

0

-103

-95

-61

-108

-127

-165

-176

-190

Interest and dividend income of investments of consolidated sponsored investment products

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,639

873

-

600

612

480

-

98

-

-

-

0

-

-

-

-

Income (Loss) Before Income Taxes

11,297

41,108

36,203

36,687

26,687

11,413

34,584

32,694

30,350

30,194

30,149

1,908

18,178

12,449

23,145

14,787

19,426

14,249

5,966

16,835

30,593

33,449

35,190

31,898

35,777

41,303

33,869

24,101

22,635

22,864

18,921

13,936

9,082

8,628

-3,873

3,613

4,624

3,749

504

Income tax expense (benefit)

10,291

11,326

10,844

8,788

4,219

10,320

6,653

9,465

6,523

24,551

9,626

1,880

4,433

532

6,869

6,087

7,556

8,612

9,669

7,823

10,868

15,038

-1,805

12,106

14,010

14,443

12,567

9,318

8,450

10,550

7,279

5,569

3,632

-132,037

-1,095

417

287

30

91

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

1,006

29,782

25,359

27,899

22,468

1,093

27,931

23,229

23,827

5,643

20,523

28

13,745

11,917

16,276

8,700

11,870

5,637

-3,703

9,012

19,725

-

36,995

19,792

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Noncontrolling Interest

5,291

6,890

1,274

973

722

-1,068

933

159

527

145

1,731

333

718

-509

651

612

-493

-999

-3,054

-765

383

-468

-345

249

-171

2,104

213

-602

225

-

0

-

-

-

0

-

-

-

-

Net Income (Loss) Attributable to Stockholders

-4,285

22,892

24,085

26,926

21,746

2,161

26,998

23,070

23,300

5,498

18,792

-305

13,027

12,426

15,625

8,088

12,363

-

-

-

-

-

-

-

21,767

-

21,302

14,783

14,185

12,314

11,642

8,367

5,450

140,665

-2,778

3,196

4,337

3,719

413

Preferred stockholder dividends

0

2,084

2,085

2,084

2,084

2,084

2,085

2,084

2,084

2,084

2,084

2,084

2,084

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,369

705

704

704

785

900

Allocation of earnings to preferred stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

64

23,157

0

449

654

528

-

Net Income (Loss) Attributable to Common Stockholders

-4,285

20,808

22,000

24,842

19,662

77

24,913

20,986

21,216

3,414

16,708

-2,389

10,943

12,426

15,625

8,088

12,363

6,636

-649

9,777

19,342

18,879

37,340

19,543

21,938

24,756

21,089

15,385

13,960

12,213

11,642

8,367

5,386

110,139

-3,483

2,043

2,979

2,406

-487

Earnings (Loss) per share—Basic (in $ per share)

-0.58

3.02

3.17

3.55

2.80

0.04

3.47

2.91

2.95

0.44

2.32

-0.34

1.67

1.83

2.04

0.99

1.48

0.80

-0.07

1.10

2.16

2.10

4.10

2.14

2.41

2.78

2.64

1.97

1.79

1.59

1.48

1.08

0.72

17.73

-0.56

0.33

0.48

0.39

-0.08

Earnings (Loss) per Share—Diluted (in $ per share)

-0.58

2.92

2.95

3.26

2.61

0.15

3.19

2.75

2.77

0.47

2.21

-0.34

1.62

1.79

1.99

0.97

1.45

0.80

-0.07

1.08

2.11

2.05

4.02

2.10

2.34

2.72

2.56

1.91

1.73

1.51

1.43

1.04

0.68

16.17

-0.56

0.30

0.43

0.37

-0.08

Preferred Stock, Dividends Per Share, Declared

-

-

1.81

1.81

-

-

1.81

1.81

1.81

-

1.81

1.81

1.81

0.00

0.00

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common Stock, Dividends, Per Share, Declared

-

-

0.67

0.55

-

-

0.55

0.45

0.45

-

0.45

0.45

0.45

0.45

0.45

0.45

0.45

0.45

0.45

0.45

0.45

-

0.45

0.45

-

-

-

0.00

-

-

-

-

-

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Basic

7,422

6,891

6,947

6,999

7,015

7,113

7,175

7,211

7,197

7,234

7,212

7,064

6,542

6,402

7,676

8,170

8,344

8,560

8,775

8,889

8,964

9,019

9,096

9,133

9,116

9,116

7,995

7,821

7,820

7,834

7,843

7,763

7,468

6,145

6,219

6,238

6,242

6,103

5,854

Weighted Average Number of Shares Outstanding, Diluted

7,422

7,865

8,157

8,252

8,322

8,840

8,456

8,401

8,411

6,659

8,492

7,064

6,773

6,614

7,854

8,314

8,506

8,877

8,775

9,037

9,151

9,203

9,279

9,325

9,361

9,359

8,227

8,058

8,088

8,128

8,117

8,081

7,966

7,317

6,219

6,887

6,913

6,538

5,854

Investment management fees
Revenues

120,288

120,945

120,023

114,591

105,918

111,664

121,713

103,168

100,476

100,447

97,295

74,062

59,271

58,996

60,398

58,192

57,644

60,611

64,891

68,867

70,496

75,374

78,960

74,537

71,792

71,186

67,119

64,475

57,777

53,165

47,985

44,878

41,847

37,698

37,053

31,481

28,831

23,483

23,388

Distribution and service fees
Revenues

9,460

9,776

10,442

10,617

10,063

10,829

13,730

13,549

12,607

11,618

11,482

10,439

10,783

11,489

12,116

12,167

12,478

14,246

15,587

17,635

19,598

21,901

23,671

23,940

22,438

21,958

20,322

19,324

17,361

15,897

14,661

13,587

12,721

11,497

11,435

11,122

9,738

7,353

7,001

Administration and shareholder service fees
Revenues

14,653

15,137

15,280

15,054

14,413

15,342

16,567

15,967

15,738

15,840

14,699

9,476

8,981

9,176

9,588

9,499

9,998

11,014

11,614

12,577

13,042

14,197

14,804

13,942

13,073

12,937

12,492

12,061

10,695

9,580

8,774

8,023

7,402

6,525

6,363

5,817

5,173

4,328

3,964

Other income and fees
Revenues

165

226

210

227

324

230

200

248

207

119

199

155

741

189

222

227

175

244

283

577

695

665

406

330

568

417

476

280

335

277

531

330

428

452

606

482

379

418

435

Consolidated Investment Products
Total operating expenses

6,749

620

376

2,568

451

692

529

1,783

511

659

6,757

473

642

-

-

4,618

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Investments

-8,669

-3,657

-5,344

9,720

-1,921

-16,997

-4,735

-1,779

2,259

-2,932

13,465

-1,424

4,444

-

-

3,678

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest Expense

24,486

19,975

21,252

31,077

19,701

18,002

16,959

15,278

14,549

13,142

16,249

2,995

2,857

-

-

5,668

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment Income, Interest and Dividend

29,229

28,296

30,290

29,368

27,402

26,678

26,596

23,679

21,403

20,787

17,778

5,102

5,656

-

-

4,278

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Consolidated entity excluding consolidated investment products
Gain (Loss) on Investments

-7,544

1,570

2

2,039

3,433

-6,241

-374

960

438

22

1,367

1,287

297

-

-

3,281

-658

-

-2,082

343

545

-

-1,039

905

1,846

463

1,285

-223

825

-

-

-

-

-

0

-

-

-

-

Interest Expense

3,199

4,268

4,889

5,151

5,165

5,963

5,155

4,469

3,858

3,909

4,116

3,739

243

-

-

129

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment Income, Interest and Dividend

752

827

863

964

1,190

1,744

716

1,818

721

847

679

446

188

-

-

619

273

-

324

302

280

-

326

344

383

238

126

203

97

335

98

171

106

129

81

65

46

52

77