CORRECTED – CORRECTED-UPDATE 1-Evercore Partners Q4 profit beats Street

(Corrects paragraph 2 to clarify that Roger Altman is the
chairman of the company, not CEO)

* Q4 Adj. EPS $0.41 vs est $0.38

* Advisory revenue up 219 percent

Feb 2 (BestGrowthStock) – U.S. merger advisory boutique Evercore
Partners Inc (EVR.N: ) reported a quarterly profit above analysts
average estimate, helped by a surge in advisory revenue.

“We have strong momentum as we move into 2010 in an
environment that we expect will gradually improve,” Chairman
Roger Altman said.

The company, which advises on large mergers and
acquisitions, posted a fourth-quarter net income available to
common shareholders of $16.5 million, or 41 cents a share,
compared with a loss of $8.5 million, or 25 cents a share, a
year-ago.

Evercore, which is advising CIT Group Inc (CIT.N: ) in its
restructuring efforts, said advisory revenue more than tripled,
propping up its net revenue to $109.1 million.

Analysts had expected a profit of 38 cents a share, before
special items, on revenue of $101.4 million, according to
Thomson Reuters I/B/E/S.

Shares of the New York-based company closed at $30.21
Monday on the New York Stock Exchange.

Investment

(Reporting by Supantha Mukherjee in Bangalore; Editing by Anil
D’Silva)

CORRECTED – CORRECTED-UPDATE 1-Evercore Partners Q4 profit beats Street