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Sprott Inc. announces 2010 second quarter results

^{Published on 2010-08-12 04:17:15 - Market Wire}
 

 - Assets Under Management ("AUM") were $5.5 billion as at June 30, 2010, compared to $4.4 billion as at June 30, 2009 and $5.1 billion as at March 31, 2010 - Management Fees were $24.2 million, an increase of 11.7% compared with Q2 2009 - Base EBITDA was $10.3 million, compared with $7.6 million for Q2 2009 - Net income increased by 37.3% to $7.7 million ($0.05 per share), from $5.6 million ($0.04 per share) in Q2 2009 - Completed $280 million follow-on offering of Sprott Physical Gold Trust units - Launched Sprott Private Credit Fund 

 - Appointed Peter Grosskopf Chief Executive Officer of Sprott - Launched SAM suite of Fixed Income products - Sprott Consulting signed Letter of Intent with Quest Capital Corp. regarding a management services agreement and re-branding the company Sprott Resource Lending Corp. 

 ------------------------------------------------------------------------- $ millions Three months Three months Six months Six months ended ended ended ended June 30, June 30, June 30, June 30, 2010 2009 2010 2009 ------------------------------------------------------------------------- AUM, beginning of quarter 5,155 4,725 4,774 4,449 ------------------------------------------------------------------------- Net sales (redemptions) 104 (43) 521 (251) ------------------------------------------------------------------------- Market value appreciation (depreciation) of portfolios 287 (238) 251 246 ------------------------------------------------------------------------- AUM, end of quarter 5,546 4,444 5,546 4,444 -------------------------------------------------------------------------