BGC Partners Sees Q1 Revenues of $390-410M vs $406.58M Est

BGC Partners, Inc.

today updated its financial outlook for the quarter ending March 31, 2012. The Company expected to generate distributable earnings revenues of between $390 million and $410 million, an increase of approximately 7 to 12 percent compared with $365.5 million a year earlier. This included approximately $45 to $55 million expected from Newmark Knight Frank.[1] BGC Partners expected pre-tax distributable earnings to be between approximately $58 million and $66 million versus $64.3 million in the first quarter of 2011. BGC Partners anticipated its effective tax rate for distributable earnings to be unchanged at approximately 15 percent. BGC Partners expected post-tax distributable earnings to be between approximately $49 million and $56 million versus $54.8 million in the year earlier period.[2]