Carlyle Group Posts Loss In Q4; Board Approves $200 Mln Unit Repurchase Program

(RTTNews) - Carlyle Group LP (CG) reported a loss for the fourth quarter on lower revenues. The company also said its board has authorised the repurchase of $200 million of common units.

Net loss attributable to the company for the fourth quarter was $2.9 million or $0.04 per unit, compared to net income of $16.3 million and $0.23 per unit in the same quarter last year.

Economic net income for the quarter was $73 million on a pre-tax basis, or $0.24 per adjusted unit on a post-tax basis.

Total revenues for the quarter dropped to $715.8 million from $839.1 million in the prior year.

The board of directors of Carlyle's general partner, Carlyle Group Management L.L.C., has authorized the repurchase of up to $200 million of common units and/or Carlyle Holdings units. This unit repurchase program may be suspended or discontinued at any time and does not have a specified expiration date.

The board also declared a quarterly distribution of $0.29 per common unit to holders of record at the close of business on February 23, 2016, payable on March 2, 2016. For full year 2015, the board declared $2.07 in aggregate distributions to common unitholders.