Och-Ziff Capital Management Reports Profit In Q2 - Quick Facts

(RTTNews) - Och-Ziff Capital Management Group LLC (OZM) reported second-quarter net income to Class A shareholders of $4.9 million, or $0.03 per Class A Share, compared to a a net loss of $116.2 million, or $0.82 per Class A Share, last year. The company said the year-over-year improvement in its results was driven by lower non-cash expenses associated with the reorganization.

Distributable earnings for the 2013 second quarter were $77.5 million, or $0.16 per adjusted class A share. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.14 for the quarter. Analysts' estimates typically exclude special items.

Total revenues rose to $207.84 million, from $178.42 million last year. Analysts expected revenue of $141.60 million for the quarter. The Board of Och-Ziff declared a second-quarter dividend of $0.14 per class A share.