$VRTS
Virtus Investment Partners Inc

2015 Q2 Form 10-Q Financial Statement

#000119312515273068 Filed on July 31, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $99.66M $112.7M
YoY Change -11.61% 17.28%
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 $873.0K $670.0K
YoY Change 30.3% 12.23%
% of Gross Profit
Operating Expenses $83.45M $90.25M
YoY Change -7.53% 30.31%
Operating Profit $16.21M $22.50M
YoY Change -27.97% -16.29%
Interest Expense $121.0K $125.0K
YoY Change -3.2% -39.32%
% of Operating Profit 0.75% 0.56%
Other Income/Expense, Net -$2.652M $7.538M
YoY Change -135.18% -322.36%
Pretax Income $16.84M $31.90M
YoY Change -47.22% 32.35%
Income Tax $7.823M $12.11M
% Of Pretax Income 46.47% 37.95%
Net Earnings $9.012M $19.79M
YoY Change -54.47% 33.88%
Net Earnings / Revenue 9.04% 17.55%
Basic Earnings Per Share $1.10 $2.14
Diluted Earnings Per Share $1.08 $2.10
COMMON SHARES
Basic Shares Outstanding 8.889M shares 9.133M shares
Diluted Shares Outstanding 9.037M shares 9.325M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $240.0M $227.1M
YoY Change 5.65% 68.58%
Cash & Equivalents $195.7M $170.7M
Short-Term Investments $44.25M $56.40M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $9.377M $7.646M
YoY Change 22.64% 0.94%
Goodwill $6.663M $5.260M
YoY Change 26.67% 0.0%
Intangibles $42.51M $42.58M
YoY Change -0.17% -8.63%
Long-Term Investments $8.964M $4.150M
YoY Change 116.0%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $722.0M $640.7M
YoY Change 12.69% 87.0%
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 $107.5M $115.9M
YoY Change -7.24% 50.86%
SHAREHOLDERS EQUITY
Retained Earnings -$478.4M -$563.7M
YoY Change -15.14% -13.41%
Common Stock $1.144B $95.00K
YoY Change 1204242.11% 17.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $105.7M $49.94M
YoY Change 111.66% 52.72%
Treasury Stock Shares 788.0K shares 416.9K shares
Shareholders Equity $559.4M $514.5M
YoY Change
Total Liabilities & Shareholders Equity $722.0M $640.7M
YoY Change 12.69% 87.0%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $9.012M $19.79M
YoY Change -54.47% 33.88%
Depreciation, Depletion And Amortization $873.0K $670.0K
YoY Change 30.3% 12.23%
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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<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. Organization and Business</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; 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.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; 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, exchange traded funds (&#x201C;ETFs&#x201D;) 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.</p> </div>
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