GAAP diluted net income and GAAP diluted earnings per share were $19.7 million and $0.24, respectively, for the three months ended March 31, 2021. GAAP diluted net income and GAAP diluted earnings per share were both zero for the three months ended March 31, 2020.
In evaluating the results of operations, management also reviews adjusted measures of earnings, which are adjusted to exclude accounting items that add a measure of non-operational complexity which obscures the underlying performance of the business. For the three months ended March 31, 2021, December 31, 2020, and March 31, 2020, no adjustments were made to GAAP earnings. Management uses the as adjusted measures to assess the strength of the underlying operations of the business. It believes the as adjusted measures provide information to further analyze the Company s operations between periods and over time. Furthermore, management targets a cash dividend payout ratio at approximately 60% to 70% of our as adjusted
MCA to lift open the ‘ownership’ veil on Limited Liability Partnerships
February 19, 2021
× After taking steps to identify the “real owners (individuals)” with “beneficial ownership” in companies, the government has now turned its sight on Limited Liability Partnerships (LLPs).
It has now decided to identify those individual(s) holding/exercising significant ownership/control in LLPs by requiring them to disclose details of their “Significant Beneficial Owners” (SBOs) so that those with “controlling interests” are identified.
A beneficial owner different from a legal owner is an individual who ultimately owns or controls more than 25 per cent (or sometimes even more than 10 per cent) of a company’s shares or exercises control over the management. The provisions around SBOs in the Companies Act 2013 are proposed to be soon extended to LLP Act, the MCA has now said.
Record Financial Performance Demonstrates Benefits of Industry-Leading Scale and Resilient Business Model NEW YORK, NY / ACCESSWIRE / February 18, 2021 /Focus Financial Partners. | February 22, 2021
Focus Financial Partners Reports Fourth Quarter and Full Year 2020 Results
Record Financial Performance Demonstrates Benefits of Industry-Leading Scale and Resilient Business Model
NEW YORK, NY / ACCESSWIRE / February 18, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ( Focus Inc. , Focus , the Company , we , us or our ), a leading partnership of independent, fiduciary wealth management firms, today reported results for its fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Highlights
Organic revenue growth
GAAP net income of $7.7 million
GAAP basic and diluted net income per share attributable to common shareholders of $0.07
Adjusted Net Income Excluding Tax Adjustments
(2) of $57.0 million and Tax Adjustments of $9.9 million
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