The Carlyle Group LP (CG), an investment firm specializing in direct and fund of fund investments, Thursday reported a slight increase in economic net income for the first quarter to $394 million from prior year's figure of $392.1 million. On a post-tax basis, Carlyle generated $1.02 in economic net income per adjusted unit for this quarter.
For the three-month period, the firm reported distributable earnings of $168 million on a pre-tax basis, compared with $179 million during the same period last year. On a per share basis, the firm recorded $0.47 per unit of distributable earnings for the first quarter of 2013.
Net income attributable to Carlyle Group L.P. for the first quarter was $34 million or $0.66 per share.
On average, eleven analysts polled by Thomson Reuters expected earnings per share of $0.94 for the quarter. Analysts' estimates typically exclude one-time items.
The company generated total GAAP revenues of $1145 million for the quarter, compared with $1110.9 million during the corresponding quarter last year.
Analysts expected the firm to report revenues of $795.69 million for the quarter.
The board of directors has declared a quarterly distribution of $0.16 per common unit to holders of record at the close of business on May 20, payable on May 31.
For comments and feedback: editorial@rttnews.com