Sanders Morris Harris posts earnings drop

Sanders Morris Harris Group Inc. posted a small drop in first-quarter earnings on an after-tax decline of $1.6 million in the income from its merchant portfolio and its ownership interest in limited partnerships net of minority interests.
MAY 10, 2007
By  Bloomberg
Sanders Morris Harris Group Inc. posted a small drop in first-quarter earnings on an after-tax decline of $1.6 million in the income from its merchant portfolio and its ownership interest in limited partnerships net of minority interests. The Houston-based financial services holding company posted quarter earnings of $2.7 million or $0.11 per share, compared to $2.8 million or $0.14 in the first quarter of 2006. Excluding the tax decline, earnings from continuing operations would have shown a 26% increase. The Asset/Wealth Management Division revenues rose 26% in the first quarter and pretax earnings of $23.7 million, compared to $18.6 million during the year-ago period. After-tax earnings from the company's ownership interests in limited partnerships net of minority interests declined to a loss of $115,000 from a gain of $720,000 during the first quarter of 2006. Furthermore, the company's merchant portfolio posted realized and unrealized after-tax losses of $165,000 during the first quarter of 2007, compared to gains of $605,000 last year. Sanders Harris Morris Group manages more than $13 billion in assets.

Latest News

Morgan Stanley faces Finra probe on client vetting, WSJ says
Morgan Stanley faces Finra probe on client vetting, WSJ says

Focus is reportedly on a three year period from 2021-2024.

Goldman Sachs sees trump’s baseline tariff rate rising to 15%
Goldman Sachs sees trump’s baseline tariff rate rising to 15%

But economists say inflation impact may come in lower than expected.

AI boom leads to record costs on US grid and call for new plants
AI boom leads to record costs on US grid and call for new plants

How fast-growing tech means higher bills for millions of Americans.

Wirehouse rolls out AI tools throughout its wealth management division
Wirehouse rolls out AI tools throughout its wealth management division

The firm is extending the use of tools to help boost productivity.

Gray divorce is on the rise, posing a risk to retirement security
Gray divorce is on the rise, posing a risk to retirement security

Older couples are more likely to split than in the past, stats show.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.