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04 December, 2023 09:52 IST
Silvercrest Asset Management Group first-quarter profit rises 29.07 percent on a YOY basis
Source: IRIS | 07 Jun, 2017, 08.30PM

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Silvercrest Asset Management Group Inc. (SAMG) has reported 29.07 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $1.69 million, or $0.21 a share in the quarter, compared with $1.31 million, or $0.16 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $3 million, or $0.22 a share compared with $2.26 million or $0.17 a share, a year ago.  

Revenue during the quarter grew 13.95 percent to $21.95 million from $19.26 million in the previous year period. Total expenses were 78.37 percent of quarterly revenues, down from 81.19 percent for the same period last year. This has led to an improvement of 281 basis points in operating margin to 21.63 percent.

Operating income for the quarter was $4.75 million, compared with $3.62 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $6.49 million compared with $5.26 million in the prior year period. At the same time, adjusted EBITDA margin improved 230 basis points in the quarter to 29.58 percent from 27.28 percent in the last year period.

Debt comes down significantly
Silvercrest Asset Management Group Inc. has recorded a decline in total debt over the last one year. It stood at $2.42 million as on Mar. 31, 2017, down 45.84 percent or $2.05 million from $4.47 million on Mar. 31, 2016. Long-term debt stood at $2.42 million as on Mar. 31, 2017. Total debt was 2.54 percent of total assets as on Mar. 31, 2017, compared with 4.75 percent on Mar. 31, 2016. Debt to equity ratio was at 0.04 as on Mar. 31, 2017, down from 0.07 as on Mar. 31, 2016. Interest coverage ratio improved to 139.62 for the quarter from 55.75 for the same period last year. 
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