Duff & PhelpsReports First Quarter 2010
l Revenues of $92.0 million including reimbursable expenses and $89.2 million excluding reimbursable expenses
l Investment Banking revenues up 47.9% compared to the corresponding prior year quarter
l Adjusted EBITDA(1) of $15.5 million, representing a 17.4% margin
l Adjusted pro forma net income per share(1) of $0.19
l Increases quarterly dividend by 20% to $0.06 per share of Class A common stock
l Authorizes stock repurchase program of up to $50.0 million in shares of Class A common stock
April 29, 2010 04:08 PM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Duff & Phelps Corporation (NYSE: DUF), a leading independent
provider of financial advisory and investment banking services, today announced financial results for its first quarter
of 2010 and declared a quarterly dividend.
For the quarter ended March 31, 2010, Duff & Phelps generated revenues excluding reimbursable expenses of
$89.2 million, compared to $89.3 million for the corresponding prior year quarter. Adjusted EBITDA(1) for the
quarter was $15.5 million, representing 17.4% of revenues excluding reimbursable expenses, compared to $15.2
million for the corresponding prior year quarter, representing 17.0% of revenues excluding reimbursable expenses.
Net income attributable to Duff & Phelps Corporation was $4.3 million, or $0.16 per share of Class A common
stock on a fully diluted basis, compared to $1.8 million, or $0.11 per share for the corresponding prior year quarter.
Adjusted pro forma net income(1) was $7.3 million, or $0.19 per share on a fully exchanged, fully diluted basis,
compared to $7.0 million, or $0.20 per share, for the corresponding prior year quarter.
“Duff & Phelps’ diversified portfolio demonstrated stability during the first quarter, as we emerge from the difficult
economic environment of 2009,” commented Noah Gottdiener, chief executive officer. “Investment Banking was a
particular strength with overal