-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, UCGoVuIMIPVkyzkkSxkaQp07TNcs1Qpw3/gKRFnaqvxDXQ8zO0DPWnK3OfcgiOtX uVL0Bt7TF4D/YR24mmgmFA== 0000789625-95-000022.txt : 199506290000789625-95-000022.hdr.sgml : 19950629 ACCESSION NUMBER: 0000789625-95-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950628 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950628 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY GROUP INC /DE/ CENTRAL INDEX KEY: 0000789625 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 132838811 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09085 FILM NUMBER: 95549845 BUSINESS ADDRESS: STREET 1: 1251 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2127034000 8-K 1 =================================================================== SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): June 28, 1995 MORGAN STANLEY GROUP INC. (Exact name of registrant as specified in its charter) Delaware 1-9085 13-2838811 (State or other (Commission File (I.R.S. Employer jurisdiction of Number) Identification incorporation or Number) organization) 1251 Avenue of the Americas, New York, New York 10020 (Address of principal executive offices including zip code) Registrant's telephone number, including area code: (212) 703-4000 =================================================================== Item 5. Other Events Attached and incorporated herein by reference as Exhibit 99 is a press release summarizing the financial results of Morgan Stanley Group Inc. (the "Company") for the three months ended May 31, 1995 and April 30, 1994 and the four months ended May 31, 1995 and announcing the declaration by the Company's Board of Directors of a quarterly cash dividend of 32 cents per share. Item 7(c). Exhibits 99. Press release dated June 28, 1995 summarizing the financial results of the Company for the three months ended May 31, 1995 and April 30, 1994 and the four months ended May 31, 1995 and announcing the declaration by the Company's Board of Directors of a quarterly cash dividend. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MORGAN STANLEY GROUP INC. Registrant /s/Patricia A. Kurtz ---------------------------- Patricia A. Kurtz Assistant Secretary Date: June 28, 1995 Index to Exhibits Exhibit No. Description - ----------- ----------------------------------- 99. Press release dated June 28, 1995 summarizing the financial results of the Company for the three months ended May 31, 1995 and April 30, 1994 and the four months ended May 31, 1995 and announcing the declaration by the Company's Board of Directors of a quarterly cash dividend. EX-99 2 For Immediate Release --------------------- Contact: Charles B. Hintz, Investor Relations 212/703-7178 Tracey Gordon, Media Relations 212/703-7618 MORGAN STANLEY GROUP INC. ANNOUNCES EARNINGS - -------------------------------------------- NEW YORK, June 28, 1995 -- Morgan Stanley Group Inc. (NYSE:MS) today announced financial results for the four- month period ended May 31, reflecting the previously announced change in the Company's fiscal year-end to November 30 from January 31. Morgan Stanley's fiscal 1995 will be ten months, consisting of a four-month period ending May 31, and three-month periods ending August 31 and November 30. This announcement provides results for the four-month period (February 1 - May 31) as well as for the three-month quarter (March 1 - May 31) to facilitate quarterly comparisons. For the four months ended May 31, Morgan Stanley reported net income of $204 million, or $2.33 per common share on a primary basis. Net revenues (gross revenues less interest expense) for the period were $1,304 million. Earnings per common share on a fully diluted basis were $2.23. Net income for the three month quarter ended May 31, 1995 was $166 million compared to $117 million for the first quarter ended April 30, 1994. Net revenues for the May 31, 1995 quarter were $1,011 million compared to $888 million for the first quarter of 1994. Primary earnings per common share were $1.90 and $1.27 for the first quarters of 1995 and 1994, respectively. Earnings per common share on a fully diluted basis were $1.82 for the May 31, 1995 quarter versus $1.22 for the first quarter of 1994. Investment banking revenues increased over the first quarter of 1994 reflecting higher revenues from mergers and acquisitions and debt underwriting which were partially offset by a reduction in equity underwriting revenues. Sales and trading revenues were also higher versus the first quarter of 1994 due to strong performances from the Company's trading units. Equity revenues benefited from increased market volatility and higher customer volumes. Fixed income revenues were positively affected by the rally in the global bond markets. Revenues from corporate, high yield, and European and Asian fixed income trading were particularly strong. Principal transactions investments realized losses in the quarter principally reflecting decreases in the carrying value of the Company's merchant banking investments in certain publicly traded securities. Richard B. Fisher, chairman, and John J. Mack, president, said in a joint statement: "The operating environment for the securities industry improved this quarter over the cyclical lows of 1994. Morgan Stanley's performance in the period benefited from strong contributions from our major business areas. "For the remainder of 1995, we will continue to focus on expanding our core businesses around the world with what we believe is the strongest combination of financial, technological, and human resources in the industry. Our strategic expansion in recent years has greatly enhanced our competitive advantage in many markets and regions and demonstrates our commitment to provide services to our clients around the world regardless of short-term operating conditions." The Company also announced the declaration by its Board of Directors of a quarterly dividend of 32 cents per common share. The dividend is payable on July 27, 1995 to holders of record on July 10, 1995. Total capital (stockholder's equity and long-term debt) at May 31, 1995 was $12.2 billion, including $4.7 billion of common and preferred stockholders' equity. Book value per common share was $50.37 based on quarter-end shares and share-equivalents of 78,742,185. Morgan Stanley Group Inc. is a global financial services firm with offices in New York, London, Tokyo and other principal financial centers around the world. --Table Follows-- Morgan Stanley Group Inc. Consolidated Statement of Income (Unaudited) (In millions, except share data) FOUR MONTHS THREE MONTHS ENDED ENDED ======================== ============ MAY 31 APRIL 30 MAY 31 1995 1994 1995 ---------- ---------- ------------ Revenues: Investment banking $273 $260 $353 Principal transactions: Trading 438 258 552 Investments (6) 10 (6) Commissions 131 119 168 Interest and dividends 1,742 1,561 2,330 Asset management and 88 81 119 administration Other 1 3 2 ---------- ---------- ------------ Total revenues 2,667 2,292 3,518 Interest expense 1,656 1,404 2,214 ---------- ---------- ------------ Net revenues 1,011 888 1,304 ---------- ---------- ------------ Expenses excluding interest: Compensation and 475 440 613 benefits Occupancy and equipment 80 68 107 Brokerage, clearing and 66 58 86 exchange fees Communications 34 29 45 Business development 34 39 48 Professional services 40 41 54 Other 31 29 42 ---------- ---------- ----------- Total expenses 760 704 995 excluding interest Income before income taxes 251 184 309 Provision for income taxes 85 67 105 ---------- ---------- ------------ Net income $166 $117 $204 ========== ========== ============ Earnings applicable to common $150 $101 $183 shares* ========== ========== ============ Average common and common equivalent shares outstanding* 78,797,807 79,828,671 78,289,688 ========== ========== ============ Primary earnings per share $1.90 $1.27 $2.33 ========== ========== ============ Fully diluted earnings per $1.82 $1.22 $2.23 share ========== ========== ============ * For primary earnings per share -----END PRIVACY-ENHANCED MESSAGE-----