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Oppenheimer Holdings Inc. Reports Second Quarter 2018 Earnings and Announces Quarterly Dividend

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Oppenheimer Holdings Inc. Reports Second Quarter 2018 Earnings and Announces Quarterly Dividend

PR Newswire

NEW YORK, July 27, 2018 /PRNewswire/ - Oppenheimer Holdings Inc. (NYSE:OPY) today reported net income of $8.9 million or $0.67 basic net income per share for the second quarter of 2018 compared with a net loss of $1.3 million or $0.10 basic net loss per share for the second quarter of 2017.  Income before income taxes from continuing operations was $12.5 million for the second quarter of 2018 compared with a loss before income taxes from continuing operations of $1.6 million for the second quarter of 2017.  Revenue from continuing operations for the second quarter of 2018 was $242.6 million compared with revenue from continuing operations of $215.9 million for the second quarter of 2017, an increase of 12.4%.


Summary Operating Results (Unaudited)

('000s, except Per Share Amounts)



For the 3-Months Ended


For the 6-Months Ended



6/30/2018


6/30/2017


% Change


6/30/2018


6/30/2017


%Change

Revenue


$

242,556


$

215,884


12.4


$

477,086


$

429,145


11.2

Expenses


230,055


217,521


5.8


454,960


437,807


3.9

Income (Loss) Before Income Taxes from
Continuing Operations


12,501


(1,637)


*


22,126


(8,662)


*

Income Taxes


3,662


(274)


*


6,578


(1,961)


*

Net Income (Loss) from Continuing Operations


8,839


(1,363)


*


15,548


(6,701)


*

Net Income from Discontinued Operations



53


(100.0)



640


(100.0)

Net Income (Loss)


8,839


(1,310)


*


15,548


(6,061)


*

Less Net Income (Loss) Attributable to Non-
Controlling Interest, Net of Tax


(16)


9


*


(12)


105


*

Net Income (Loss) Attributable to Oppenheimer
Holdings Inc.


$

8,855


$

(1,319)


*


$

15,560


$

(6,166)


*














Basic Net Income (Loss) Per Share(1)














Continuing Operations


$

0.67


$

(0.10)


*

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