WisdomTree (NasdaqGM:WETF), which recently completed an initial
public offering on Nasdaq, earned $1.1 million in the first
quarter, blowing out of the water the $200,000 it earned in the
same year-earlier period. It cited one of the best quarters of net
inflows in its history as a big reason for the results.
The company's revenues rose by almost a third to about $19.2
million, boosted by net inflows that reached almost $2.3 billion in
the quarter-about 82 percent above the 2011 first-quarter flows.
The New York-based company posted the first quarterly profit in its
history in the 2011 first quarter.
"This strong growth in net inflows was focused in our equity
family and is even more impressive within the backdrop of $10
billion in outflows from traditional long-term equity mutual funds
during the quarter," WisdomTree's Chief Executive Officer Jonathan
Steinberg said today in a press release.
WisdomTree, which describes itself as the only pure ETF company
whose shares are traded publicly, in the past few years has ridden
the success of a few blockbuster funds, many of them actively
managed. Its success has cemented its place as the seventh-biggest
U.S. ETF sponsor by assets. It ended the quarter with just shy of
$15.7 billion in assets.
Among the more successful funds is the WisdomTree Emerging
Markets Local Currency Fund (NYSEArca:ELD), which has gathered
$1.25 billion in assets since launching in the summer of 2010.
In its press release, the company also singled out the actively
managed WisdomTree Emerging Markets Corporate Bond Fund
(NYSEArca:EMCB), which has gathered more than $60 million in assets
since its rollout on March 8.
The company's results have been steadily rising on a
quarter-to-quarter basis over the past several quarters. For
example, its latest first-quarterly results of $1.1 million topped
its 2011 fourth-quarter earnings of $889,000.
It ended a streak of narrowing losses in the 2011 first
quarter-which, as noted, was its first of profitability.
Excluding nonoperating expenses related to litigation,
shareholder proxy and exchange listing fees, WisdomTree said its
"proforma" net income was $1.9 million in 2012 first quarter,
compared with $500,000 in the first quarter of 2011 and $1.0
million in the fourth quarter of 2011.
Permalink | 'copy; Copyright 2009 IndexUniverse LLC. All rights
Don't forget to check IndexUniverse.com's ETF Data
2012 IndexUniverse LLC
. All Rights Reserved.