Press release content from PR Newswire. The AP news staff was not involved in its creation.
Virtus Investment Partners Announces Rick Smirl Has Joined As Executive Vice President, Chief Operating Officer
May 3, 2021 GMT
Virtus Investment Partners, Inc. (PRNewsFoto/Virtus Investment Partners, Inc.) (PRNewsfoto/Virtus Investment Partners, Inc.)
HARTFORD, Conn., May 3, 2021 /PRNewswire/ Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, today announced that Rick Smirl has joined the company as executive vice president, chief operating officer, and member of the senior leadership team.
Smirl, who has more than 20 years of experience in the asset management industry, will lead the company’s product management, oversight, and development activities and have responsibility for the investment operations and information technology functions. He will also work with affiliated managers and subadvisers as the company focuses on co
Virtus Investment Partners Announces Rick Smirl Has Joined As Executive Vice President, Chief Operating Officer prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Operator
Good morning. My name is Carmen, and I will be your conference operator today. I would like to welcome everyone to the Virtus Investment Partners quarterly conference call. The slide presentation for this call is available in the Investor Relations section of the Virtus website, www.virtus.com. [Operator Instructions] [Operator Instructions]
I will now turn the conference over to your host, Sean Rourke.
Sean P. Rourke
Vice President of Investor Relations
Thank you, Carmen, and good morning, everyone. On behalf of Virtus Investment Partners, I would like to welcome you to the discussion of our operating and financial results for the first quarter of 2021. Our speakers today are George Aylward, President and Chief Executive Officer of Virtus; and Mike Angerthal, Chief Financial Officer. Following the prepared remarks, we will have a QandA period.
Virtus: Q1 Earnings Snapshot
FacebookTwitterEmail
HARTFORD, Conn. (AP) Virtus Investment Partners Inc. (VRTS) on Wednesday reported first-quarter net income of $36.6 million, after reporting a loss in the same period a year earlier.
The Hartford, Connecticut-based company said it had net income of $4.54 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $6.78 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $5.46 per share.
The asset management company posted revenue of $216.9 million in the period. Its adjusted revenue was $187.3 million.
Virtus shares have increased 20% since the beginning of the year. The stock has more than tripled in the last 12 months.