For the latest quarter of 2012, its net revenues were similar to the first quarter of 2011, which stood at $105.5m.
US GAAP net revenues during the first quarter of 2012 stood at $102.8m against $107.1m and $112.8m for the quarters ended 31 March 2011 and 31 December 2011, respectively.
US GAAP net income (loss) from continuing operations attributable to Evercore Partners was $3.4m, or ($0.12) per share for the current quarter, versus $3.6m, or $0.14 per share, for the three months ended 31 March 2011.
Evercore Partners president and chief executive officer Ralph Schlosstein said that the firm’s business in any given quarter is affected by the timing of transaction closings, over which it virtually has no control.
"In this quarter, the opposite happened, as delayed closings caused disappointing results. But, as we have said in the past, our business is best judged over longer periods, and we are pleased that our Investment Banking revenues for the twelve months ending March 31, 2012 are $424 million, a record for the firm," Schlosstein added.
"Our growth outlook remains favorable, and we will continue to add talent steadily and build out the Firm. We were particularly pleased to announce the addition of two Senior Managing Directors in London. Randolph Sesson, who will head European Transportation, and Steve Wellington, who will join our Restructuring team."
Evercore’s investment banking segment net revenues increased by 5% to $85m from the same quarter last year, while operating income stood at $7.5m, down by 60% from the same quarter previous fiscal.
For the quarter ended 31 March 2012, its investment management segment reported net revenues and operating income of $20.5m and $1.4m, respectively.
