Calamos Asset Management, Inc (CLMS)

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Non-GAAP diluted earnings per share was $0.25 for the fourth quarter compared to $0.20 in the previous quarter and $0.32 in the fourth quarter of 2012.1 Non-GAAP net income attributable to Calamos Asset Management, Inc. (CAM) was $5.0 million for the quarter compared to $4.1 million last quarter and $6.6 million in the fourth quarter of 2012.

GAAP diluted earnings per share was $0.54 for the fourth quarter of 20132 compared to $0.13 in the previous quarter and $0.22 in the fourth quarter of 2012. Net income attributable to CAM was $10.9 million for the quarter compared to $2.7 million last quarter and $4.6 million in the fourth quarter of 2012.

Our total revenues for the current quarter were $66.5 million compared to $65.0 million in the previous quarter and $76.9 million in the fourth quarter a year ago. Operating margin was 33.0% for the fourth quarter, 23.7% in the previous quarter, and 36.5% in the fourth quarter of 2012.

Assets Under Management3 were $26.5 billion at December 31, 2013 compared to $26.6 billion at the end of last quarter, and $29.7 billion at the end of the prior year. Net outflows were $1.4 billion for the quarter, compared to $894 million of net outflows in the previous quarter, and $3.0 billion of net outflows in the fourth quarter of 2012.

The Board of Directors of CAM declared a regular quarterly dividend of 12.5 cents per share payable on February 24, 2014 to shareholders of record on February 7, 2014.

Calamos Investments LLC (Calamos Investments) repurchased 1.2 million shares of CAM's common stock since the share repurchase program was announced in the first quarter of 2013, for a total cost of $13.2 million.

The table below highlights certain GAAP and non-GAAP financial measures:
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