Carlyle Group Q1 Profit Rises - Quick Facts

(RTTNews) - The Carlyle Group L.P. (CG) reported first-quarter net income to company of $39.5 million or $0.54 per unit, compared to $24.6 million or $0.41 per unit, prior year. Income before provision for income taxes was $615.3 million, for the quarter. Economic Net Income was $273 million on a pre-tax basis and $0.80 per Adjusted Unit on a post-tax basis.

The company noted that its financial results for the first quarter were negatively impacted by an adverse court judgment in a French tax court proceeding relating to a transaction that Carlyle Europe Real Estate Partners I (CEREP I) exited between 2007 and 2009. Excluding the impact of the French tax judgment, economic Net Income would have been $307 million or $0.91 of ENI per Adjusted Unit.

Distributable Earnings per unit was $0.43, for the quarter. Excluding the impact of the French tax judgment, Distributable Earnings would have been $0.67 per unit.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased to $1.14 billion from $1.15 billion last year.

The Board of Directors has declared a quarterly distribution of $0.33 per common unit to holders of record at the close of business on May 15, 2015, payable on May 22, 2015.