Oppenheimer Holdings Inc. Reports Third Quarter EPS of $.26
October 29, 2010 8:17 AM
Oppenheimer Holdings Inc. (NYSE: OPY) reported a net profit of $3.4 million or $0.26 per share for the third quarter of 2010 compared to a net profit of $7.9 million or $0.60 per share in the third quarter of 2009, a decrease of 56.7% in net profit.
Revenue for the third quarter of 2010 was $235.1 million, compared to revenue of $262.1 million in the third quarter of 2009, a decrease of 10.3%. Client assets entrusted to the Company and under management totaled approximately $71.5 billion while client assets under fee-based programs offered by the asset management groups totaled approximately $17.9 billion at September 30, 2010 ($64.0 billion and $15.4 billion, respectively, at September 30, 2009).
Net profit for the nine months ended September 30, 2010 was $21.8 million or $1.63 per share compared to $13.0 million or $1.00 per share in the same period of 2009, an increase of 67.3% in net profit. Revenue for the nine months ended September 30, 2010 was $738.3 million, an increase of 2.8% compared to $718.1 million in the same period of 2009.
