Silvercrest Asset Management Group Inc (SAMG) has reported 12.82 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $1.50 million, or $0.19 a share in the quarter, compared with $1.33 million, or $0.17 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $2.61 million, or $0.19 a share compared with $7.20 million or $0.53 a share, a year ago. Revenue during the quarter went up marginally by 2.59 percent to $20.47 million from $19.95 million in the previous year period.
Total expenses were $16.29 million for the quarter, up 3.86 percent or $0.60 million from year-ago period. Operating margin for the quarter contracted 97 basis points over the previous year period to 20.43 percent.
Operating income for the quarter was $4.18 million, compared with $4.27 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $5.89 million compared with $16.56 million in the prior year period. At the same time, adjusted EBITDA margin contracted 5423 basis points in the quarter to 28.79 percent from 83.02 percent in the last year period.
Other income during the quarter was $1.01 million, up 21.17 percent or $0.18 million from year-ago period.
Receivables move upNet receivables were at $4.51 million as on Sep. 30, 2016, up 12.72 percent or $0.51 million from year-ago. Investments stood at $0.03 million as on Sep. 30, 2016, up 100 percent or $0.02 million from year-ago.
Total assets went up marginally by 0.59 percent or $0.60 million to $102.55 million on Sep. 30, 2016. On the other hand, total liabilities were at $39.11 million as on Sep. 30, 2016, down 7.77 percent or $3.29 million from year-ago.
Return on assets moved up 6 basis points to 2.87 percent in the quarter. At the same time, return on equity moved up 13 basis points to 2.36 percent in the quarter.
Debt comes down significantly
Total debt was at $2.55 million as on Sep. 30, 2016, down 50.47 percent or $2.60 million from year-ago. Shareholders equity stood at $63.44 million as on Sep. 30, 2016, up 6.55 percent or $3.90 million from year-ago. As a result, debt to equity ratio went down 5 basis points to 0.04 percent in the quarter. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
