ETF inflows keep WisdomTree margins rising

Q4 net income of $16.5M or $0.12 per share compares to $5.3M a year ago.

ETF AUM of $34.9B up 90.8% Y/Y. ETF net inflows of $2.3B up 117.9%. Market share of industry inflows of 3.9% up 200 basis points from a year ago.

Average ETF advisory fee of 51 bps down 3 bps from a year ago as the majority of inflows in Q4 (and for the whole year) went to the Japan Hedged Equity Fund (DXJ) which has an expense ratio of 0.48%.

Pre-tax margin of 38% up 1,600 basis points Y/Y.

Expenses of $26.7M vs. $18.3M a year ago, with compensation expense of $9.6M up 56.3% thanks to incentive pay surrounding the big net inflows. Headcount of 87 up from 70 one year ago. Marketing expense of $2.1M is up 31.8%.

CC at 9 ET

The stock's had a rough January, down 19% after a near-triple in the prior year.

WETF +0.6% premarket

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Comments (1)
  • E Enterprises
    , contributor
    Comment (1) | Send Message
    The new net profit picture looks great, so why would stock be down today?
    31 Jan 2014, 11:59 AM Reply Like
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