Medley Management (MDLY) Misses Q2 EPS by 3c; Approves $35M Common Stock Buyback

Medley Management (NYSE: MDLY) reported Q2 EPS of $0.22, $0.03 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $20.54 million versus the consensus estimate of $25.97 million.

Fee Earning AUM

The table below presents the quarter to date roll forward of our total fee earning AUM:

Total fee earning AUM increased by 6%, or $185 million, to $3.4 billion at June 30, 2015 compared to March 31, 2015. The permanent capital vehicles' share of fee earning AUM remained consistent at 67% at June 30, 2015 and March 31, 2015.

Repurchase Program:

The Company's Board of Directors has authorized the repurchase of up to $5 million of the Company's Class A common stock. Medley LLC will repurchase membership units, on a one for one basis, for each share of Class A common stock repurchased by the Company. Under this share repurchase program, shares may be repurchased from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual number of shares repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. This program may be suspended or discontinued at any time and will expire in one year.

For earnings history and earnings-related data on Medley Management (MDLY) click here.

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