BGC Partners, Inc. (NASDAQ:BGCP) traded lower in last trading session at $5.83 as it lifted it currently expects Q4 results to be about the high-end of its previous outlook. The firm prior anticipates pre-tax distributable earnings in the range of $36M to $44M, with revenues ranging $400M and $425M. At present, analysts anticipate the firm to earn $0.11 a share on Q4 revenues of $413.88M.
As in this movement, the firm uses non-GAAP financial measures counting revenues for distributable earnings pre-tax distributable earnings as well as post-tax distributable earnings. That supplemental measures of operating performance are utilized by management to assess the financial performance of the firm and its subsidiaries. BGC Partners thinks that distributable earnings most excellent reflect the operating earnings created by the firm on a consolidated basis as well as are the earnings which management considers available for allocation to BGC Partners, Inc. as well as its common stockholders, and to holders of BGC Holdings partnership units during some period.
With Q4 and full year 2013 financial results, BGC Partners, Inc.’s (NASDAQ:BGCP) is currently projecting to be issued before the market open on Wednesday, February 12, 2014.
As in relation to income from operations before income taxes, net income (which is loss) for fully diluted shares, as well as fully diluted earnings per share. All prepared in accordance with GAAP, distributable earnings estimates primarily keep out certain non-cash compensation in addition to other costs that generally do not engage the receipt or outlay of cash by the firm, which do not thin obtainable stockholders, as well as which do not have economic outcomes, as described below. As well, distributable earnings calculations keep out certain gains and charges that management considers do not best reflect the ordinary operating results of BGC.