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Last $42.26 USD
Change Today -0.14 / -0.33%
Volume 611.4K
BID On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

sotheby's (BID) Key Developments

Sotheby's Announces Management Changes

Sotheby's announced that its Board of Directors has appointed Tad Smith as President and Chief Executive Officer, effective March 31, 2015. Smith will also join the Sothebys Board of Directors. He succeeds William F. Ruprecht who has served as CEO since 2000. Smith has been President and Chief Executive Officer of the Madison Square Garden Company since February 2014. Sotheby's also announced it will separate the roles of Chairman and Chief Executive Officer and that the Board has elected Lead Independent Director Domenico De Sole to succeed Ruprecht as Chairman of the Board.

Sotheby's Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Sotheby's announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $351,224,000 against $339,201,000 a year ago. Operating income was $128,991,000 against $144,935,000 a year ago. Income before taxes was $120,147,000 against $136,846,000 a year ago. Net income attributable to Sotheby's was $74,003,000 or $1.06 per diluted share against $90,753,000 or $1.30 per diluted share a year ago. Adjusted Net Income was $78,383,000 compared to $91,508,000 for the same period a year ago. Adjusted diluted earnings per share were $1.12 compared to $1.31 for the same period a year ago. For the full year, the company reported total revenues of $938,053,000 against $853,678,000 a year ago. Operating income was $226,044,000 against $222,575,000 a year ago. Income before taxes was $193,021,000 against $185,693,000 a year ago. Net income attributable to Sotheby's was $117,795,000 or $1.68 per diluted share against $130,006,000 or $1.88 per diluted share a year ago. Adjusted Operating Income was $267,881,000 compared to $223,947,000 for the same period a year ago. Adjusted Net Income was $142,398,000 compared to $130,761,000 for the same period a year ago. Adjusted diluted earnings per share were $2.03 compared to $1.89 for the same period a year ago.

Sotheby's Declares First Quarter 2015 Dividend, Payable on 16 March 2015

The Board of Directors of Sotheby's has declared a quarterly dividend of $0.10 for the first quarter of 2015. The first quarter dividend is payable on 16 March 2015 to shareholders of record as of 9 March 2015.

Sotheby's, Q4 2014 Earnings Call, Mar 02, 2015

Sotheby's, Q4 2014 Earnings Call, Mar 02, 2015

Smart Entertainment Ltd Sues Sotheby's for Conducting Business in India on its Own

Smart Entertainment Ltd. took Sotheby's to court for conducting business in India on its own rather than collaborating with the joint venture company it had set up in the 1990s. Sotheby's conducted a high-profile preview for pricey artworks in Delhi on January 30, 2015.

 

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