Diamond Hill Investment Group, Inc. Reports 2010 Financial Results

Diamond Hill Investment Group, Inc.

today reported results for the year ended December 31, 2010. The company plans to file its 2010 Form 10-K on Friday, February 25, 2011 and we urge investors to read and consider the information in that filing. Whenever possible, we will post information on a Friday afternoon so that investors have a maximum amount of time to digest the information. Revenue increased 30% to $56.7 million for the year compared to 2009. Net operating income for the year was $18.5 million, an increase of 53% from 2009. Net income for the year was $12.4 million, or $4.48 per diluted share, compared to $11.4 million, or $4.40 per diluted share, in 2009. The increase in net income is primarily due to a $6.4 million increase in net operating income driven by a 37% increase in assets under management from 2009 to 2010, offset by a $4.2 million decrease in the corporate investment return in 2010 compared to 2009. Excluding the corporate investment return, net operating income after tax increased 48% to $11.6 million for the year compared to $7.9 million in 2009. Assets under management ended the year at $8.6 billion as compared to $6.3 billion at the end of 2009.