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WisdomTree Announces Fourth Quarter and Year End 2012 Results
$1.1 billion of net inflows during quarter and $4.7 billion for the year
Record revenues up 46% from year ago quarter and 30% for the year
Net income more than tripled from year ago quarter and full year
New York, NY (GlobeNewswire) February 1, 2013 WisdomTree Investments, Inc. (NASDAQ: WETF), an exchange-traded fund (ETF) sponsor and asset manager, today reported net income of $5.3 million for the fourth quarter of 2012, up from $0.9 million in the fourth quarter of 2011 and $4.5 million in the third quarter of 2012. Excluding non-operating items related to patent litigation, ETF shareholder proxy and secondary offering, proforma operating income1 was $5.1 million for the fourth quarter of 2012, up from proforma operating income of $1.0 million in the fourth quarter of 2011 and $4.8 million in the third quarter of 2012.
For the full year, net income was $11.0 million in 2012, up from $3.1 million in 2011. Excluding non-operating items related to patent litigation, ETF shareholder proxy, secondary offering and initial exchange listing fees, proforma operating income1 was $14.8 million in 2012, up from proforma operating income of $4.0 million in 2011.
WisdomTree CEO and President Jonathan Steinberg commented, WisdomTree captured $4.7 billion in net inflows for the full year as both our existing and new products powered our AUM and top line growth, resulting in record financial results. WisdomTree achieved substantial top line growth with record revenues and tripled its net income for the quarter and year.
Mr. Steinberg continued, 2012 was a year of terrific execution and accomplishments for WisdomTree, with continued momentum into the new year. We have expanded our product set with additional equity and fixed income strategies, while hitting record asset milestones in several of our flagship funds. The ETF industry continues to demonstrate dynamic growth, posting a record $185 billion in net inflows for the year. We are continuing to invest in our business and position WisdomTree to take part in the fast-growing ETF market.
Assets Under Management, Net Inflows and Market Share
ETF assets under management (AUM) were $18.3 billion at December 31, 2012, up from $12.2 billion at December 31, 2011 and $16.8 billion at September 30, 2012. Net inflows for the fourth quarter of 2012 were $1.1 billion compared to $0.8 billion in the fourth quarter of 2011 and $1.0 billion in the third quarter of 2012. WisdomTrees market share of industry net inflows was 1.9% in the fourth quarter of 2012 as compared to 1.7% in the fourth quarter of 2011 and 2.0% in the third quarter of 2012.
|1||Proforma operating income and other proforma amounts described below are non-GAAP financial measurements. Please see the section entitled Non-GAAP Financial Measurements for a reconciliation of these measurements to GAAP.|
The following information was filed by Wisdomtree Investments, Inc. (WETF) on Friday, February 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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