Virtus Investment Partners Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss attributable to common stockholders of $788,000 or $0.14 per basic and diluted share on total revenues of $30,395,000 against net loss attributable to common stockholders of $337,269,000 or $58.43 per basic and diluted share on total revenues of $44,806,000 in the same period of last year. Operating loss was $622,000 against $427,816,000 in the same period of last year. Income before income taxes was $301,000 against loss before income taxes of $429,186,000 in the same period of last year. Adjusted revenue was $22,885,000 and adjusted operating income was $3,213,000 against adjusted revenue of $28,507,000 and adjusted operating income of $2,220,000 for the same period a year ago. The improvement resulted from top-line revenue growth of 12% and benefits from the company's ongoing cost management program. For the nine months ended September 30, 2009, the company reported net loss attributable to common stockholders of $10,774,000 or $1.86 per basic and diluted share on total revenues of $83,827,000 against net loss attributable to common stockholders of $349,877,000 or $60.62 per basic and diluted share on total revenues of $143,387,000 in the same period of last year. Operating loss was $7,915,000 against $446,248,000 in the same period of last year. Loss before income taxes was $7,455,000 against $449,380,000 in the same period of last year. Adjusted revenue was $62,030,000 and adjusted operating income was $2,571,000 against adjusted revenue of $92,377,000 and adjusted operating income of $6,394,000 for the same period a year ago.

Virtus Investment Partners Inc. announced that it has closed on a new senior secured revolving credit facility for an initial aggregate amount of $30.0 million. The company extinguished its previously outstanding debt of $18.0 million using $15.0 million under the new credit facility and $3.0 million of its cash resources. The $30.0 million facility, the commitment for which was previously disclosed in Virtus' second quarter earnings report, has a term of two years, with the amount available reducing to $18.0 million in the second year. The facility will have a variable interest rate benchmarked to standard market indices.

Virtus Investment Partners Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of $8,026,000 or $1.72 per basic and diluted share on total revenues of $53,432,000 compared to a net loss of $12,608,000 or $2.18 per basic and diluted share on total revenues of $98,581,000 for the same period a year ago. Loss before income taxes was $7,756,000 against $20,194,000 for the same period a year ago. Operating loss was $7,293,000 against $18,432,000 for the same period a year ago. Net loss attributable to common stockholders was $9,986,000 against $12,608,000 for the same period a year ago. The improvement was primarily due to a $0.4 million increase in investment management fees, based on higher mutual fund assets, partially offset by lower fees on managed accounts, which are based on asset levels at the end of the prior quarter. Adjusted revenue was $19,732,000 and adjusted operating income was $791,000 against adjusted revenue of $30,701,000 and adjusted operating income of $1,932,000 for the same period a year ago. For the six months, the company reported net loss of $2,248,000 or $0.54 per basic and diluted share on total revenues of $27,181,000 compared to a net loss of $3,434,000 or $0.59 per basic and diluted share on total revenues of $48,048,000 for the same period a year ago. Loss before income taxes was $2,101,000 against $5,263,000 for the same period a year ago. Operating loss was $2,822,000 against $4,741,000 for the same period a year ago. Net loss attributable to common stockholders was $3,148,000 against $3,434,000 for the same period a year ago. Adjusted revenue was $39,145,000 and adjusted operating loss was $642,000 against adjusted revenue of $63,869,000 and adjusted operating income of $4,172,000 for the same period a year ago.