$VRTS
Virtus Investment Partners Inc

2013 Q4 Form 10-K Financial Statement

#000119312515072018 Filed on March 02, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $106.5M $100.4M $96.14M
YoY Change 34.95% 39.55% 43.88%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $200.0K
YoY Change -71.43%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $610.0K $597.0K
YoY Change 40.23% 36.93%
% of Gross Profit
Operating Expenses $68.78M $69.26M
YoY Change 26.94% 31.76%
Operating Profit $33.89M $31.63M $26.88M
YoY Change 65.55% 78.03% 88.61%
Interest Expense $207.0K $206.0K
YoY Change 5.61% -24.82%
% of Operating Profit 0.65% 0.77%
Other Income/Expense, Net $1.720M -$3.390M
YoY Change 49.05% 1484.11%
Pretax Income $33.87M $24.10M
YoY Change 79.0% 72.94%
Income Tax $12.57M $9.318M
% Of Pretax Income 37.1% 38.66%
Net Earnings $21.30M $14.78M
YoY Change 82.98% 76.68%
Net Earnings / Revenue 21.22% 15.38%
Basic Earnings Per Share $2.72 $2.64 $1.97
Diluted Earnings Per Share $2.65 $2.56 $1.91
COMMON SHARES
Basic Shares Outstanding 9.101M shares 7.995M shares 7.821M shares
Diluted Shares Outstanding 8.227M shares 8.058M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.5M $362.3M $134.7M
YoY Change 282.85%
Cash & Equivalents $271.5M $244.7M $70.89M
Short-Term Investments $28.97M $117.6M $63.85M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $46.66M $44.82M
Other Receivables
Total Short-Term Assets $461.1M $200.8M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $7.219M $7.335M $7.575M
YoY Change -7.31%
Goodwill $5.260M $5.260M $5.260M
YoY Change 0.0%
Intangibles $44.63M $45.91M $46.61M
YoY Change -8.37% -7.36% -7.14%
Long-Term Investments $4.070M
YoY Change 880.72%
Other Assets $18.72M $17.03M
YoY Change
Total Long-Term Assets $140.5M $141.8M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $461.1M $200.8M
Total Long-Term Assets $140.5M $141.8M
Total Assets $645.0M $601.6M $342.6M
YoY Change 93.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.84M $9.852M
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 $108.9M $54.16M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $8.072M $22.64M
YoY Change
Total Long-Term Liabilities $8.072M $22.64M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $108.9M $54.16M
Total Long-Term Liabilities $8.072M $22.64M
Total Liabilities $109.9M $117.0M $76.80M
YoY Change 29.12%
SHAREHOLDERS EQUITY
Retained Earnings -$605.2M -$630.0M -$651.1M
YoY Change -11.05%
Common Stock $95.00K $95.00K $81.00K
YoY Change 17.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $37.44M $37.44M $32.70M
YoY Change 111.11%
Treasury Stock Shares 350.0K shares 350.0K shares 325.0K shares
Shareholders Equity $492.9M $465.9M $256.4M
YoY Change
Total Liabilities & Shareholders Equity $645.0M $601.6M $342.6M
YoY Change 93.83%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $21.30M $14.78M
YoY Change 82.98% 76.68%
Depreciation, Depletion And Amortization $610.0K $597.0K
YoY Change 40.23% 36.93%
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

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75190000
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478000
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4434000
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35547000
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10395000
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2422000
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6043000
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7500000
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3515000
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4413000
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1700000
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3515000
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CY2014 dei Document Type
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10-K
CY2014 dei Entity Registrant Name
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VIRTUS INVESTMENT PARTNERS, INC.
CY2014 dei Entity Well Known Seasoned Issuer
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Yes
CY2014 dei Trading Symbol
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VRTS
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CY2014 dei Entity Filer Category
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Large Accelerated Filer
CY2014 dei Entity Voluntary Filers
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No
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CY2014 us-gaap Nature Of Operations
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<div> <p style="margin-top: 12px; margin-bottom: 0px;"><font size="2" style="font-family: Times New Roman;"><b>1. Organization and Business</b></font></p> <p style="text-indent: 4%; margin-top: 6px; margin-bottom: 0px;"> <font size="2" style="font-family: Times New Roman;">Virtus Investment Partners, Inc. (the &#x201C;Company,&#x201D; &#x201C;we,&#x201D; &#x201C;us,&#x201D; &#x201C;our&#x201D; or &#x201C;Virtus&#x201D;), a Delaware corporation, operates in the investment management industry through its subsidiaries.</font></p> <p style="text-indent: 4%; margin-top: 12px; margin-bottom: 0px;"> <font size="2" style="font-family: Times New Roman;">The Company provides investment management and related services to individuals and institutions throughout the United States of America. The Company&#x2019;s retail investment management services are provided to individuals through products consisting of open-end mutual funds, closed-end funds, variable insurance funds and separately managed accounts. Separately managed accounts are offered through intermediary programs that are sponsored and distributed by unaffiliated broker-dealers and individual direct managed account investment services that are provided by the Company. Institutional investment management services are provided primarily to corporations, multi-employer retirement funds, employee retirement systems, foundations, endowments and subadvisory accounts.</font></p> </div>
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0 shares
CY2014 us-gaap Dividend Payable Date To Be Paid Day Month And Year
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2015-02-13
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%; MARGIN-TOP: 18px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of the consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Management believes the estimates used in preparing the consolidated financial statements are reasonable and prudent. Actual results could differ from those estimates.</font></p> </div>
CY2014 dei Document Period End Date
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2014-12-31
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0.02 pure
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P1Y1M6D
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--12-31
CY2014 dei Document Fiscal Year Focus
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2014
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2015-01-30
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9091000 shares
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8437000
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56016000
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1417000
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24805000
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8200000
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4157000
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136314000
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130720000
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91950000
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97608000
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Revenues
112749000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19543000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.56
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.64
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
31630000
CY2013Q3 us-gaap Revenues
Revenues
100409000
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21089000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.02
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.10
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
38927000
CY2014Q3 us-gaap Revenues
Revenues
117841000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37340000
CY2014Q3 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
15500000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.65
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.72
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
33892000
CY2013Q4 us-gaap Revenues
Revenues
106498000
CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24756000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.05
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.09
CY2014Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
36665000
CY2014Q4 us-gaap Revenues
Revenues
112137000
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18879000

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