EXHIBIT 99.1
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES
EXCHANGE
ACT OF 1934
Date of Report (date of earliest event reported): April 10, 2002
Friedman, Billings, Ramsey Group, Inc.
(Exact name of Registrant as specified in its charter)
VIRGINIA 01-15049 54-1873198
- ------------------------------------ ------------------------------- ---------------------
(State or other jurisdiction of (I.R.S. Employer Identification (Commission File
incorporation) Identification No.) Number)
1001 Nineteenth Street
North Arlington, VA 22209
(Address of principal executive offices) (Zip code)
(703) 312-9500
(Registrant's telephone number including area code)
Item 9. Regulation FD Disclosure
1. On April 10, 2002 Friedman, Billings, Ramsey Group, Inc. made a
presentation at the Sidoti & Co. Investor Conference in New York, NY.
Information presented at the conference is furnished herewith as Exhibit 99.1.
Ex. 99.1 Friedman, Billings, Ramsey Group, Inc. material presented at the
Sidoti & Co. Investor Conference.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.
By: /s/ Emanuel J. Friedman
------------------------------
Emanuel J. Friedman
Chairman and Co-Chief Executive Officer
Exhibit 99.1
Sidoti & Co. Investor Conference
Friedman, Billings Ramsey Group, Inc. Information
New York | April 10, 2002
Statements concerning future performance, developments, events, market
forecasts, earnings models, earnings, revenues, expenses, run rates and any
other guidance on present or future periods, constitute forward-looking
statements that are subject to a number of factors, risks and uncertainties that
might cause actual results to differ materially from those expressed in the
forward looking information. These factors include, but are not limited to, the
effect of demand for public offerings, activity in the secondary securities
markets, the high degree of risk associated with technology and other venture
capital investments, changes in interest rates, competition for business and
personnel, and general economic, political and market conditions. These and
other risks are described in the company's Annual Report on Form 10-K that is
available from the company and from the SEC.
Research-driven capital markets platform
4 profit centers - target annualized pre-tax earnings**:
-FBR Asset Investment Corporation - $32 million
-investment banking - $20 million
-institutional brokerage sales and trading - $5.0 million
-asset management - $8.0 million
**Assumptions include: FBR Asset return on equity = 30%, including
revenue to FBR Asset from fee-sharing agreement with FBR Group;
investment banking revenues $110 million; Institutional brokerage
revenues $65 million; assets under management (other than FBR Asset)
$1.5 billion; return on long-term investments (other than FBR Asset)
12%. These targets are not a projection of 2002 earnings, nor are they
intended to be indicative of 1st quarter 2002 results.
Projected Investment Banking Revenue for 1st Quarter 2002 - $23.8 million.
Total gross assets under management as of April 10, 2002 of more than $5 billion
(includes leveraged assets in FBR Asset).
Strong balance sheet:
-Combined FBR Group and FBR Asset Equity of more than $600 million
FBR plans to release 1st quarter earnings on April 25, 2002.