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BRIEF-AllianceBernstein Holding qtrly GAAP diluted net income $0.77 per unit
February 14, 2017 / 12:13 PM / 7 months ago

BRIEF-AllianceBernstein Holding qtrly GAAP diluted net income $0.77 per unit

Feb 14 (Reuters) - AllianceBernstein Holding Lp :

* AllianceBernstein Holding L.P. Announces fourth quarter results

* AllianceBernstein Holding Lp - total assets under management as of december 31, 2016 were $480.2 billion, down $10.0 billion, or 2.0%, from September 30, 2016

* AllianceBernstein holding lp - total net outflows were $0.1 billion in q4, compared to net outflows of $15.3 billion in previous quarter

* AllianceBernstein holding lp - qtrly net revenue $ 786.3 million versus $726.7 million last year

* AllianceBernstein holding lp qtrly gaap diluted net income of $0.77 per unit

* AllianceBernstein holding lp - us and global equity markets were mixed in q4, while us and global fixed income markets were weak

* Q4 earnings per share view $0.49, revenue view $739.0 million -- Thomson Reuters I/B/E/S

* Alliancebernstein holding lp qtrly adjusted diluted net income of $0.67 per unit

* Alliancebernstein holding lp - we have been understating income tax provision and income tax liability since 2010

* Alliancebernstein holding lp - in past, funded foreign units as they required cash for their operations rather than pre-fund them each quarter

* Alliancebernstein - frequency of settling u.s. Inter-Co payable balances with foreign units created deemed dividends under u.s. Internal revenue code

* Alliancebernstein holding lp - established an income tax liability, including interest and potential penalties, of $34.2 million as of december 31, 2016

* Alliancebernstein holding lp - funding foreign units instead of pre-funding them resulted in understating income tax provision, income tax liability since 2010

* Alliancebernstein holding lp - evaluated effects of error in income tax provision, income tax liability to previously issued financial statements

* Alliancebernstein holding lp - based upon quantitative, qualitative factors, have determined error was not material to previously issued financial statements Source text for Eikon: Further company coverage:

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