Ares Management Q1 Net Income Rises

(RTTNews) - Ares Management Corporation (ARES) reported that its first quarter net income attributable to Class A and non-voting common stockholders was $117.3 million compared to $21.9 million, a year ago. Net income per share of Class A and non-voting common stock was $0.46 compared to breakeven. After-tax Realized Income was $452.4 million, up 19%. After-tax Realized Income per share of Class A and non-voting common stock was $1.24 compared to $1.09. Fee Related Earnings were $464.4 million, for the quarter.

First quarter total revenues were $1.40 billion compared to $1.09 billion, a year ago. Management fees were $989.5 million compared to $817.0 million.

In pre-market trading on NYSE, Ares Management shares are down 1.68 percent to $115.50.

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