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BlackRock, Inc. Message Board

  • bluecheese4u bluecheese4u Jan 17, 2013 8:46 AM Flag

    BlackRock Reports Record Quarterly Diluted EPS of $3.93, or $3.96 as adjusted

    BlackRock Reports Record Quarterly Diluted EPS of $3.93, or $3.96 as adjusted

    Record Full Year Diluted EPS of $13.79 ($13.68 as adjusted)
    Quarterly Revenue of Over $2.5 Billion Up 14% from Fourth Quarter 2011 and 9% from Third Quarter 2012
    BlackRock Board of Directors Approves 12% Increase in Quarterly Dividend to $1.68 and Expands Share Repurchase
    Authority by an Additional 7.5 Million Shares to 10.2 Million Shares
    • Record assets under management of $3.792 trillion at year end, up 8% from year end 2011
    • Generated quarterly diluted EPS growth of 29% from fourth quarter 2011 and full year growth of 11% (15% as adjusted)
    • Grew operating income 24% from fourth quarter 2011 and over 8% for the year
    • Improved operating margin to 39.6% (42.6% as adjusted) for the quarter and to 37.7% (40.4% as adjusted) for the year
    • Attracted $47.0 billion in net long-term inflows with growth across all client channels and geographies
    • Liquidated the BlackRock Public-Private Investment Fund at a 23.5% internal rate of return to the U.S. Treasury
    • Continued strong repurchase activity buying 868,500 shares in the quarter and 9.1 million shares for the year
    • Board of Directors has declared a quarterly cash dividend of $1.68 per share of common stock, the dividend is payable
    March 25, 2013 to shareholders of record at the close of business on March 7, 2013

    New York, January 17, 2013 — BlackRock, Inc. (NYSE:BLK) today reported full year diluted EPS of $13.79, up 11% from
    2011. Fourth quarter 2012 diluted EPS of $3.93 was up 29% from fourth quarter 2011. Revenue increased 14% from fourth
    quarter 2011 and 9% from third quarter 2012, reflecting growth in markets, strength in base fees and higher performance
    fees. Operating income for fourth quarter and full year 2012 was $1.0 billion and $3.5 billion, respectively. Operating margin
    of 39.6% for fourth quarter 2012 rose 330 bps from fourth quarter 2011.
    As adjusted results(1). Full year 2012 diluted EPS of $13.68 improved 15% from 2011. Fourth quarter 2012 operating
    income of $1.0 billion rose 24% and 19% from fourth quarter 2011 and third quarter 2012, respectively. Fourth quarter diluted
    EPS totaled $3.96 and included operating income of $4.07 per diluted share and net non-operating expense of $0.11 per
    diluted share. Adjusted operating margin of 42.6% in fourth quarter 2012 rose 260 bps from fourth quarter 2011. For more
    information on as adjusted items and the reconciliation to GAAP, see notes to the Condensed Consolidated Statements of
    Income and Supplemental Information beginning on page 10.
    “BlackRock’s financial performance in 2012 was strong by any measure,” commented Laurence D. Fink, Chairman and CEO
    of BlackRock. “We closed the year with record earnings for both the quarter and the year. We improved investment
    performance in key areas and our work with clients was rewarded with $107.7 billion of long-term net new business. Every
    client type contributed to these strong flows. Our results demonstrate not only the diversity of our platform and the breadth
    of our global product offering, but how we have differentiated the firm and continued to evolve in anticipation of our clients’
    needs.”

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