Calamos income, earnings rise in 2Q

PRNewswire

NAPERVILLE — Calamos Asset Management Inc. reported a slight decrease in overall asset management for the second quarter of 2011, but incomes and earnings continued to rise during the same period.

Assets under management were $37.4 billion for the quarter ending June 30, down 2 percent from $38.0 billion at the end of the first quarter, but up 25 percent from $29.9 billion at the end of the second quarter last year.

Revenues during the period increased 3 percent to $92.9 million from $90.5 million for the first quarter and by 15 percent from $80.5 million last year. Operating income was $39.3 million, a 5 percent increase from $37.3 million in the first quarter and up 33 percent from $29.7 million last year.

“Calamos Asset Management continues its position of financial strength and the company’s balance sheet remains solid. The quarter, however, brought a slight reduction in Assets under management largely due to market depreciation and, to a lesser extent, slightly negative outflows.  We remain constructive on the long-term opportunities we see for the firm as well as for our shareholders and clients,” said John P. Calamos, Sr., chief executive officer and co-chief investment officer.

The diluted earnings per share was $0.32, compared to $0.23 per share last quarter and $0.23 a year ago. Diluted earnings per share increased from the prior periods due to increases in operating income and realized gains on the sale of investment securities, the company said in a release. It declared a regular quarterly dividend of 9.5 cents per share payable on August 31, 2011 to shareholders of record on August 16

“We are pleased with the firm’s long-term investment performance, reflecting our investment team’s philosophy to manage risk and return over an extended time horizon and throughout multiple market cycles. We also continue to generate notable returns from some of our newer strategies, including those for emerging markets and global/international equities. Overall investment performance for the quarter was at or near benchmark,” Calamos said.