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AB Announces 1Q 2010 Results

|Includes:AllianceBernstein Holding L.P. (AB)

AllianceBernstein Holding (NYSE:AB) has reported results for first quarter 2010.

Earnings were $0.50 per unit, in line with analyst estimates of $0.50. However, the company reported Diluted Earnings of $0.46 per unit due to a one-time real estate sublease charge of $12 million (or $0.04 per unit).

Net Income increased 302% YOY to $148 million from $37 million in first quarter 2009.

Operating margins soared to 21.6% from 6.5% in first quarter 2009.

AB announced a $0.46 distribution per unit payable on May 27, 2010 to unit holders of record as of May 13, 2010.

The company maintains a postiive outlook for 2010.

Disclosure: no position

Stocks: AB