Hamilton Lane Fiscal Q4 Earnings Beat Estimates

Private markets asset management firm Hamilton Lane Inc. said Monday its fiscal Q4 adjusted earnings for the period ended March 31 amounted to $0.25 per share, beating analysts’ estimates as polled by Capital IQ by a penny and compared with no profit in the same period a year ago. The company also reported revenue of $46.7 million, in-line with estimates and beating $41.3 million in the same period a year ago. In addition, Hamilton Lane has declared a quarterly dividend of $0.175 per share of class A common stock to record holders at the close of business on June 26, to be paid on July 10, 2017.

The company noted in its highlights for the quarter it “successfully completed” its initial public offering in March, raising $218.5 million in gross proceeds, including the exercise of the underwriter’s over allotment option, and assets under management and fee-earning assets as of March 31 were $42 billion and $27 billion, respectively, up 11% and 12%, respectively, compared with March 2016.

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