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Last $45.38 USD
Change Today +0.11 / 0.24%
Volume 366.3K
BID On Other Exchanges
New York
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

sotheby's (BID) Key Developments

Sotheby's Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Sotheby's reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company’s total revenues were $155,675,000 compared to $156,811,000 a year ago. Operating income was $18,404,000 compared to $4,091,000 a year ago. Income before taxes was $7,913,000 compared to loss before income tax of $5,718,000 a year ago. Net income was $5,133,000 compared to net loss of $5,895,000 a year ago. Net income attributable to company was $5,202,000 or $0.07 per share compared to net loss of $6,114,000 or $0.09 per share a year ago. Adjusted operating income was $22,234,000 compared to $9,794,000 a year ago. Adjusted net income was $7,423,000 compared to net loss of $2,977,000 a year ago. Adjusted diluted earnings per share $0.11 against adjusted loss per share of $0.04 for the same period a year ago. This improvement in adjusted operating income was principally due to an 8% increase in auction commission revenues, attributable to improved auction commission margins, and 3% growth in Net Auction Sales. The improvement in auction commission margin is primarily due to the change in the buyer's premium rate structure enacted on 1 February 2015 and a lower level of buyer's premium shared with consignors. The comparison of first quarter Adjusted Operating Income versus the prior year also benefits from the continued growth of Sotheby's Financial Services loan portfolio, as well as a lower level of professional fees. The improvement in net income was due to $3.1 million income tax charge recorded in the prior year quarter related to the enactment of new legislation in New York State.

Sotheby's Declares Second Quarter Dividend, Payable on June 15, 2015

The board of directors of Sotheby's has declared a quarterly dividend of $0.10 for the second quarter of 2015. The second quarter dividend is payable on June 15, 2015 to shareholders of record as of June 1, 2015.

Sotheby's, Q1 2015 Earnings Call, May 11, 2015

Sotheby's, Q1 2015 Earnings Call, May 11, 2015

Sotheby's to Report Q1, 2015 Sales/Trading Statement Results on Apr 06, 2015

Sotheby's announced that they will report Q1, 2015 sales/trading statement results on Apr 06, 2015

Sotheby's, Annual General Meeting, May 07, 2015

Sotheby's, Annual General Meeting, May 07, 2015., at 09:00 US Eastern Standard Time. Location: The company's offices, 1334 York Avenue. Agenda: To vote on the election of thirteen director nominees to serve on the company's Board of Directors until the 2016 Annual Meeting of Stockholders and until their successors are duly elected and qualified; to ratify the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2015; to approve the amended and restated Sotheby's stock compensation plan for non-employee Directors, to increase the number of shares of common stock reserved for issuance under this plan by 200,000 shares, from 400,000 to 600,000 shares and amend other provisions; to approve, on an advisory basis, the compensation of the company's named executive officers; and to transact such other business as may properly come before the meeting or any adjournments or postponements thereof.


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