$VRTS
Virtus Investment Partners Inc

2020 Q4 Form 10-Q Financial Statement

#000088323720000138 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $171.6M $154.8M $146.0M
YoY Change 17.5% 6.05% -4.11%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.106M $1.245M
YoY Change -11.16% 4.71%
% of Gross Profit
Operating Expenses $113.8M $110.2M
YoY Change 3.28% -6.85%
Operating Profit $50.93M $41.01M $35.79M
YoY Change 34.75% 14.59% 5.42%
Interest Expense $5.726M $5.012M
YoY Change 14.25% -3.58%
% of Operating Profit 13.96% 14.01%
Other Income/Expense, Net $6.177M -$4.596M
YoY Change -234.4% 0.79%
Pretax Income $52.91M $36.20M
YoY Change 46.15% 4.68%
Income Tax $11.98M $10.84M
% Of Pretax Income 22.64% 29.95%
Net Earnings $61.81M $29.65M $24.09M
YoY Change 107.55% 23.1% -10.79%
Net Earnings / Revenue 36.01% 19.15% 16.5%
Basic Earnings Per Share $5.67 $3.86 $3.17
Diluted Earnings Per Share $5.40 $3.71 $2.95
COMMON SHARES
Basic Shares Outstanding 7.613M shares 7.684M shares 6.947M shares
Diluted Shares Outstanding 7.997M shares 8.157M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $339.8M $256.4M $279.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $14.49M $15.29M $19.49M
YoY Change -20.18% -21.58% 62.48%
Goodwill $290.4M $290.4M $290.4M
YoY Change 0.0% 0.0% 0.0%
Intangibles $280.3M $287.8M $317.9M
YoY Change -9.71% -9.48% -8.21%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.467B $3.391B $3.113B
YoY Change 8.19% 8.92% 7.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $2.630B $2.603B $2.344B
YoY Change 7.17% 11.07% 8.27%
SHAREHOLDERS EQUITY
Retained Earnings -$135.3M -$178.6M -$238.1M
YoY Change -37.15% -25.0% -23.93%
Common Stock $1.298B $1.302B $1.202B
YoY Change 8.24% 8.29% -0.7%
Preferred Stock
YoY Change
Treasury Stock (at cost) $451.7M $444.2M $409.2M
YoY Change 7.75% 8.55% 12.35%
Treasury Stock Shares 4.207M shares 4.167M shares 3.842M shares
Shareholders Equity $711.1M $679.0M $665.7M
YoY Change
Total Liabilities & Shareholders Equity $3.467B $3.391B $3.113B
YoY Change 8.19% 8.92% 7.93%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $61.81M $29.65M $24.09M
YoY Change 107.55% 23.1% -10.79%
Depreciation, Depletion And Amortization $1.106M $1.245M
YoY Change -11.16% 4.71%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Fiscal Period Focus
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dei Entity Current Reporting Status
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dei Current Fiscal Year End Date
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
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VIRTUS INVESTMENT PARTNERS, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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dei Entity Address City Or Town
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dei Entity Address State Or Province
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dei Security12b Title
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us-gaap Nature Of Operations
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Organization and Business<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Virtus Investment Partners, Inc. (the "Company," "we," "us," "our" or "Virtus"), a Delaware corporation, operates in the investment management industry through its subsidiaries.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company provides investment management and related services to individuals and institutions. The Company’s retail investment management services are provided to individuals through products consisting of U.S. 1940 Act mutual funds and Undertaking for Collective Investment in Transferable Securities ("UCITS" or "offshore funds" and collectively, with U.S. 1940 Act mutual funds, "open-end funds"), exchange traded funds ("ETFs"), closed-end funds (collectively, with open-end funds and ETFs, "funds") and retail separate accounts. Institutional investment management services are offered through separate accounts and pooled or commingled structures to a variety of institutional clients. The Company also provides subadvisory services to other investment advisers and serves as the collateral manager for structured products.</span></div>
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36642000 USD
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WeightedAverageNumberOfSharesOutstandingBasic
6947000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7611000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6990000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
313000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1210000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
347000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1225000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7997000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8157000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7958000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8215000 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.86
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.51
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.71
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.95
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.86
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29000 shares
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.339
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.240
CY2019Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
63845000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
2622000 USD
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
21653000 USD
vrts Noncontrolling Interest Subscriptions Redemptions
NoncontrollingInterestSubscriptionsRedemptions
13779000 USD
CY2020Q3 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
99277000 USD

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