Och-Ziff Capital Management Group LLC (OZM) saw its loss narrow to $4.31 million, or $0.04 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $69.36 million, or $0.38 a share. Revenue during the quarter dropped 26.16 percent to $139.15 million from $188.44 million in the previous year period. Operating margin for the quarter period stood at positive 12.16 percent as compared to a negative 73.84 percent for the previous year period.
Operating income for the quarter was $16.92 million, compared with an operating loss of $139.14 million in the previous year period.
"The first quarter was our fourth consecutive quarter of positive performance across our funds and strategies," said Dan Och, chairman and chief executive officer of Och-Ziff. "While the markets fluctuated, our team's prudent security selection and asset allocation led to consistently strong performance in all major funds, including but not limited to the multi-strategy OZ Master Fund and the global credit OZ Credit Opportunities Fund".
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