Pimco Advisors Holdings L.P.: The Newport Beach...
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Pimco Advisors Holdings L.P.: The Newport Beach investment organization, which manages almost $218 billion in assets for institutions and individuals, reported record net income for the first quarter.
Net income rose 30% to $16.5 million, or 34 cents a share, from pro forma earnings of $12.7 million, or 27 cents a share, for the year-earlier period. Results for 1997 are reported on a pro forma basis because of Pimco’s acquisition of New York-based Oppenheimer Capital in November 1997.
Revenue increased 26% to $193.9 million from $154.3 million.
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