Q2 earnings: GAMCO, SMH, Stifel

GAMCO Investors Inc. reported quarterly net income of $18.0 million, or $0.63 per fully diluted share, nearly double the restated $8.9 million, or $0.31 per fully diluted share, from last year.
Assets under management hit a record for the Rye, N.Y.-based investment advisory firm, which manages $30.6 billion, compared to $26.8 billion last year.
Sanders Morris Harris Group Inc. said its second quarter earnings were in the black, reaching $1.1 million, or $0.04 per share, up from a loss of $1.7 million, or $0.09 per share, last year.
The Houston-based company said its asset and wealth management revenue hit $26 million, up from $19.6 million a year ago.
Diamond Hill Investment Group Inc. said that profits rose to $2.4 million, or $1.05 per share, from $1.4 million, or $0.62 per share, last year.
The Columbus, Ohio-based manager now has $4.5 billion under management, up from $2.7 billion in the second quarter of 2006.
But Stifel Financial Corp. reported a 37% loss in earnings this year, sinking to $1.4 million, or $0.08 per share, from $2.3 million, or $0.16 per share, in the same period last year.
The St. Louis-based securities brokerage firm said that total non-interest expenses spiked to $208.3 million from $142.1 million, taking a bite out of record-level revenues of $220.6 million.