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WisdomTree Announces GAAP net income of USD0.2m in Q1

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ETF sponsor and asset manager WisdomTree has reported GAAP net income of USD0.2 million for the first quarter of 2011 as compared to a GAAP net loss of USD3.6 million in the first quarter of 2010 and a GAAP net loss of USD0.6 million for the fourth quarter of 2010.

Proforma operating income (which excludes stock-based compensation and depreciation and amortisation expenses) was USD2.3 million in the first quarter of 2011 as compared to a proforma loss of USD1.0 million in the first quarter of 2010 and proforma income of USD1.7 million in the fourth quarter of 2010.

ETF assets under management (“AUM”) reached a record USD11.3 billion, up 68.1% from March 31, 2010 and up 14.1% from December 31, 2010. Net inflows were USD1.3 billion in the first quarter which represented 4.7% market share of industry inflows. Revenues increased 66.8% to a record USD14.5 million compared to the first quarter of last year and up 8.4% from the fourth quarter of 2010.

WisdomTree CEO Jonathan Steinberg says: “WisdomTree is extremely pleased to report our first quarter of GAAP net income on the back of another strong quarter of net inflows and overall ETF industry market share. I am proud of the track record we are building as we execute the corporate goals we outlined for our shareholders.

“We are continuing to expand and diversify our product offering by launching our second international fixed income ETF and launching our first alternative strategy ETF during the quarter. Strong net inflows during the quarter resulting in record AUM and revenues demonstrate that the diversification of our product set has enhanced our ability to gather assets in changing market cycles.”

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