Business
First Quarter Results
First Quarter Results.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n RNS Number : 0604S Titanium Asset Management Corp 12 May 2009 \n \nTitanium Asset Management Corp. \n\nReports First Quarter 2009 Results\n\nMilwaukee, WI, May 12, 2009 - Titanium Asset Management Corp. (AIM - TAM) today reported results for the first quarter of 2009.\n\nHighlights are as follows:\n\n\n\nRevenues were $4,896,000 for the first quarter of 2009, a 120% increase over the same period last year.\n\n\n\n\n\nManaged and fee paying assets up from $8,379.4million to $8,398.0 million, \n\n\n\n\n\nAUM up marginally from $7.572.2 to $7.573.2million\n\n\n\n\n\nNet loss of $(1,541,000), or ($0.08) per diluted common share, compared to $4,000, or $0.00 per diluted common share, for the first quarter of 2008. \n\n\n\nCommenting on these results, Nigel Wightman, Chairman and CEO of Titanium Asset Management Corporation said:\n\n'After completing the acquisition of Boyd Watterson Asset Management LLC at year end, our efforts have been focused on integrating the activities of our four acquired operating subsidiaries. During the first quarter, we completed the staffing and reorganization of our sales team to better position us to sell the full range of our strategies to our existing customers as well as to prospects. \n\n'During the first quarter of 2009, our assets under management were stable despite the challenging financial environment. We are encouraged by the strong pipeline of new business opportunities at the end of the quarter and by the general recovery in the financial markets since the end of the quarter.\n\nWe also continue to focus on the integration of operational and administrative functions and expect to achieve significant expense reductions over the balance of 2009.'\n\n\nFor further information please contact:\n\nTitanium Asset Management Corp.\nNigel Wightman, Chairman and CEO +44 20 7822 1881 or + 44 7789 277849\n\nSeymour Pierce Ltd\nJonathan Wright ...