Form 8-K GAMCO INVESTORS, INC. For: Apr 18
Exhibit 99.1
For Immediate Release:
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Contact:
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Howard Green
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SVP of Corporate Development
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(914) 921-7729
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For further information please visit
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www.gabelli.com
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GAMCO Expects to Report Diluted EPS for the First Quarter 2022 of $0.64 to $0.68 Per Share
Greenwich, Connecticut, April 18, 2022 – GAMCO Investors, Inc. (“GAMCO”) (NYSE: GBL) announced today that it expects to report first quarter 2022 diluted
earnings in the range of $0.64 to $0.68 per share versus $0.59 per share for the first quarter of 2021.
At March 31, 2022, assets under management (“AUM”) were the same $33.4 billion as March 31, 2021 and were $35.0 billion at December 31, 2021.
GAMCO will be issuing further details on its financial results in early May.
About GAMCO Investors, Inc.
GAMCO is known for its research-driven approach to equity investing. GAMCO conducts its investment advisory business principally through two subsidiaries:
GAMCO Asset Management Inc. (approximately 1,400 institutional and private wealth separate accounts) and Gabelli Funds, LLC (24 open-end funds, 14 closed-end funds, 3 actively managed semi-transparent ETFs, and a SICAV). GAMCO serves a broad client
base including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.
GAMCO offers a wide range of solutions for clients across Value, Growth Equity, ESG, Convertibles, actively managed semi-transparent ETFs, sector-focused
strategies including Gold and Utilities, Merger Arbitrage, and Fixed Income. In 1977, GAMCO started its flagship All Cap Value strategy, Gabelli Value, and in 1986 launched its mutual fund business.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical
information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these
statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any
discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we
believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy, the effects of the Tax Cuts and Jobs Act, and other conditions, there can be
no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor
guarantees or assurances of future performance.
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Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are
difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that could cause our actual results to differ from
our expectations include risks associated with the duration and scope of the ongoing coronavirus pandemic resulting in volatile market conditions, a decline in the securities markets that adversely affect our assets under management, negative
performance of our products, the failure to perform as required under our investment management agreements, a general downturn in the economy that negatively impacts our operations, and the ongoing impacts of the Tax Cuts and Jobs Act with respect to
tax rates and the non-deductibility of certain portions of NEO compensation. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Form 10-K and other
public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently
learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.
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