BGC Partners Turns To Profit In Q3 - Quick Facts

(RTTNews) - BGC Partners Inc. (BGCP) reported third-quarter net income to stockholders of $25.33 million or $0.11 per share, compared to a loss of $451 thousand or breakeven per share, prior year. Post-tax distributable earnings was $31.02 million or $0.10 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.10 for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased to $433.34 million, from $440.32 million, prior year. Distributable earnings revenue decreased to $414.38 million, from $445.69 million, a year ago. Analysts expected revenue of $413.41 million for the quarter.

The company expects fourth-quarter distributable earnings revenues of between approximately $400 million and $425 million. BGC Partners expects pre-tax distributable earnings to be between approximately $36 million and $44 million. Analysts expect the company to report fourth-quarter revenue of $431.08 million.

BGC Partners' Board declared a quarterly cash dividend of $0.12 per share payable on December 2, 2013 to Class A and Class B common stockholders of record as of November 18, 2013.