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WisdomTree Announces Fourth Quarter and Year End 2013 Results
Record net income more than triples from year ago quarter and for the year
Diluted EPS $0.12 for the quarter and $0.37 for the year
Record revenues up 83% from year ago quarter and 76% for the year
$2.3 billion net inflows in quarter and record $14.3 billion for the year
New York, NY (GlobeNewswire) January 31, 2014 WisdomTree Investments, Inc. (NASDAQ: WETF), an exchange-traded fund (ETF) sponsor and asset manager, today reported net income of $16.5 million for the fourth quarter of 2013, or $0.12 per share on a fully diluted basis. This compares to $5.3 million in the fourth quarter of 2012 and $15.0 million in the third quarter of 2013. For the full year, net income was $51.5 million, or $0.37 per share on a fully diluted basis. This compares to $11.0 million in 2012.
WisdomTree CEO and President Jonathan Steinberg commented, 2013 was a year of transformational growth, stellar operating performance and record financial results for WisdomTree. Powered by $14.3 billion in net inflows, our revenues are up 76% for the year, and with the growth of our business we are demonstrating the scale, efficiency and earnings power of our operating model.
Mr. Steinberg continued, We also continued to invest in our business to position WisdomTree for future growth. During the course of the year we bolstered our product set in important categories like domestic equities, domestic fixed income and currency hedged equities. In total, 15 new products launched in 2013 provide investment solutions for a strengthening U.S. dollar, as well as rising interest rates.
Mr. Steinberg concluded, We also made important strides at the business level, including the announcement last quarter of a new fund administration and custody services relationship with State Street Bank and Trust Company, a global leader with the infrastructure to support our growth. Today, we announced expansion plans for the European ETF market. As we continue into 2014 with strong momentum, I am excited about the significant opportunities for WisdomTrees expansion and development.
The following information was filed by Wisdomtree Investments, Inc. (WETF) on Friday, January 31, 2014 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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