Virtus Investment Partners, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's total revenues were $78,919,000 compared to $56,172,000 a year ago. Operating income was $20,472,000 compared to $8,194,000 a year ago. Income before income taxes was $22,864,000 compared to $8,628,000 a year ago. Net income was $12,314,000 compared to $140,665,000 a year ago. Net income attributable to common stockholders was $12,213,000 or $1.50 per diluted share compared to $109,554,000 or $16.35 per diluted share a year ago. Revenues, as adjusted was $59,151,000 compared to $42,690,000 a year ago. Operating income, as adjusted was $24,497,000 compared to $13,574,000 a year ago. Total sales increased 46% to $3.9 billion in the fourth quarter from $2.6 billion in the fourth quarter of 2011, and were consistent with the strong sales in the third quarter of 2012. Revenues were increased 40% from the fourth quarter of 2011, primarily as a result of higher investment management fees from the company's growing asset base.

For the full year, the company's total revenues were $280,086,000 compared to $204,652,000 a year ago. Operating income was $60,445,000 compared to $13,903,000 a year ago. Income before income taxes was $64,803,000 compared to $12,992,000 a year ago. Net income was $37,773,000 compared to $145,420,000 a year ago. Net income attributable to common stockholders was $37,608,000 or $4.66 per diluted share compared to $111,678,000 or $16.34 per diluted share a year ago. Revenues, as adjusted was $211,645,000 compared to $155,146,000 a year ago. Operating income, as adjusted was $81,455,000 compared to $43,678,000 a year ago. Sales were $14.4 billion for the full year, an increase of 29% from $11.2 billion in 2011. Quarterly and annual revenue increased from prior periods primarily as a result of the substantial growth of open-end mutual funds, higher closed-end fund assets, and the addition of a new affiliated manager.