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Company Links |
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Major Stock Holders
(Prior To
Offering) |
Name |
Class A |
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A. Rama Krishna |
9.20% |
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Joel M. Greenblatt |
12.50% |
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John P. Goetz |
10.60% |
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Richard S. Pzena |
42.70% |
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William L. Lipsey |
9.60% |
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Major Stock Holders
(After Offering) |
Name |
Common Stock |
Class A |
Class B |
Class C |
Class L |
ADS |
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A. Rama Krishna |
0% |
9.00% |
0% |
0% |
0% |
0% |
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Joel M. Greenblatt |
0% |
12.30% |
0% |
0% |
0% |
0% |
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John P. Goetz |
0% |
10.40% |
0% |
0% |
0% |
0% |
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Richard S. Pzena |
0% |
41.80% |
0% |
0% |
0% |
0% |
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William L. Lipsey |
0% |
9.40% |
0% |
0% |
0% |
0% |
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Company Strategy |
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Founded in late 1995, the Company is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service. |
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Product/Services Portfolio |
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The Company currently offers clients ten value-oriented strategies which span different market capitalization segments in both U.S. and international markets.
All of the Company’s investment strategies generally follow the same philosophy — the Company seeks to make investments in good businesses at low prices.
The Company constructs concentrated portfolios of these businesses, which are selected through a rigorous, fundamental research process. The Company’s investment decisions are not motivated by short-term results, nor are they aimed at closely tracking specific market benchmarks. Instead, the Company is focused on generating excess returns over the long term.
As of June 30, 2007, the Company managed separate accounts on behalf of over 375 institutions and high net worth individual investors and acted as sub-investment adviser for twelve SEC-registered mutual funds and ten offshore funds.
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Investment Analysis |
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Total revenue for the three months ending June 30, 2007 was $36.8 million, an increase of $9.6 million, or 35.3%, from $27.2 million for the three months ending June 30, 2006.
Total operating expenses decreased by $11.3 million to $11.1 million for the three months ended June 30, 2007 from $22.5 million for the three months ended June 30, 2006.
Other income (loss) increased by $2.0 million to $1.7 million for the three months ended June 30, 2007 from $(0.3) million for the three months ended June 30, 2006.
Minority and non-controlling interests increased from $(0.1) million for the three months ended June 30, 2006 to $0.6 million for the three months ended June 30, 2007.
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Income Data (Thousand $ Except EPS) |
| Year |
Revenues |
Costs |
Oper Income |
Taxes |
Net Income |
EPS |
| 2004
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51,896 |
33,846 |
18,050 |
1,765 |
0.00 |
0.00 |
| 2005
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78,596 |
47,019 |
31,577 |
2,704 |
-28,669 |
0.00 |
| 2006
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115,087 |
314,012 |
-198,925 |
3,941 |
-715,457 |
0.00 |
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Balance Sheet Data
(Thousand $) |
Year |
Cash |
Acct Recv. |
Inventory |
Total Cur Assets |
Total Cur Liability |
PPE |
Total Assets |
LT Debt |
SH Equity |
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2005 |
4,969 |
0.00 |
0.00 |
0.00 |
0.00 |
1,895 |
48,968 |
0.00 |
0.00 |
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2006 |
30,920 |
0.00 |
0.00 |
0.00 |
0.00 |
1,876 |
89,746 |
0.00 |
0.00 |
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2007 |
100 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
100 |
0.00 |
100 |
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*As of May 10, 2007
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| Cash
Flow Summary
(Thousand $) |
Year |
Net Cash-Ops |
Net Cash-Inv |
Net Cash-Fin |
Net Change |
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2004 |
3,075 |
-5,251 |
0.00 |
-2,176 |
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2005 |
-11,261 |
403 |
10,895 |
37 |
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2006 |
16,393 |
2,525 |
6,591 |
25,509 |
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- Avoid 
- Value Gap 
- Long-Term Growth 
- Long-Term Value 