Westwood reports Q3 net loss of $1.2M; revenue down to $15.4M; dividend $0.15

WESTWOOD HOLDINGS GROUP INC

2022-Q2 EPS reported -$0.19 revenue$48,225,000

Revenue $15.4M vs $15.6M Q2 and $17.9M year ago; net loss $1.2M (diluted EPS -$0.15) vs net income $1.9M in Q3 2021.
AUM $11.5B at Sep 30, down from $12.1B at Jun 30 due to market depreciation across most asset classes.
Non-GAAP Economic Earnings $0.8M ($0.10 per share) vs $1.6M Q2 and $3.7M a year ago; cash $74.0M, no debt.
Declared $0.15 quarterly dividend payable Jan 3, 2023 to holders of record Dec 2, 2022.
Salient acquisition on track: proxy solicitation for mutual fund move underway; expected close by end of 2022.

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