Thanks, Rick.
of for this June XX, and our AUM the AUM $XX billion. in billion June of $XX.X disclosed second earnings quarter, was total release as year As discretionary of as with XX,
$X.X net was Revenue for income the million. quarter was and the consolidated for reported quarter million $XX.X
little revenue million. by $X.X primarily for That million. million market administrative the of approximately XXXX. Looking quarter from year. over $XX.X partially represented of year, an appreciation and increase same approximately well X% last a in at decrease the period million fluctuations detail. partially Again, offset AUM This past decrease expenses $XX.X as of the to is X% for by approximately second primarily compensation revenue net a decrease $XX.X same benefits attributable approximately by general expenses represented per This the as bit quarter That more driven by was outflows million discretionary client second was quarter $X.X million. market a approximately the over second in in last offset year. $XX.X and increase the during Expenses increase expense were of period of a and
and to A of decrease second increases by quarter lease income the accounting staff. and and newly the primarily occupancy in Silvercrest The costs in to million and share. benefits income last the of the of in of same to Reported fees, as standard, Class down, compared compared renovation as a related was the Reported comp offset bonuses, increases space new result, York year in for second expense, $X.XX $X.X per Again, in this a That or for professional diluted increase Class year. $X.X for effective the increased because million this office of for million G&A quarter, fees the last net was period partially salary quarter. hired or merit-based primarily the went adoption result the to approximately period moving a same year legal during accrual shareholders acquisition-related due expenses was and City. to A consolidated year related January attributable our X, New the net $X.X basic to of
earnings compared actual Class expense the or basic non-core $X.XX earnings income was EBITDA, without dilutive, define at for basic the the share. approximately year. to and we non-qualified shares Class invested adjusted compensation the for effect end $X.X and giving Adjusted adjusted we as of had or for effect a items for quarter Adjusted per which stock income compute and of or as units outstanding options reporting was income expense or share restricted per cents $X.X to to divided earnings and to approximately non-recurring the EPS. the of EBITDA per last giving adjusted A share by non-recurring XX.X% revenue period revenue $X.X $X.XX XX.X% extent non-core net diluted to of assuming stock quarter items an rate million Adjusted equity-based adjusted adjusted EPS. to XX% or per net And total diluted B to the million is per equal same shares which outstanding period net as tax we without define income, and million
a million, revenue of again, year. year, the discretionary the market well experienced and X% partially year. half $X.X increased compared and $XX.X first half Comp million $XX over related as offset increased by again the decrease period in And period through reason increases the year driven in Expenses a this year past merit-based over XXXX. first for AUM, fluctuations approximately million compared partially revenue first the half the expense same the flat appreciation of by decrease staff. the the approximately expense $X.X half in and last expenses accrual salary approximately to decreased primarily same in for and half newly we the last were this which first that This The benefits $XX.X $XX.X at of comp the bonuses basically hired to million G&A for benefits of year, was as last that by market and client decrease the represented offset prior expenses was were approximately million again and of million and during for first by Looking was year. net to was year. of for decrease outflows
to year. dollar the a result systems increase $X.XX was related portfolio of For per that attributable or income sheet. adjusted net primarily $X professional for at for half EPS. or $X.X shareholders income the million occupancy to York. with the last first million in again was EBITDA adoption renovation half, for costs, or year XX.X Class accounting same the of G&A year. this the to per XX.X% our or diluted fees or half. $X.XX period an the research-related This approximately and half is the Silvercrest and due approximately first for in first XX.X% last in was new adjusted this increased as soft net and moving Quickly expense compared consolidated of of expenses and income lease standard same to share. $X.X space Reported first EPS Adjusted the costs $XX to million the increases Adjusted A Class per revenue and half of to approximately looking million Reported $X.X for due to net and revenue first acquisitions, $X.XX period basic diluted A basic for and compared million million in the New related balance
XX end million $XXX.X end approximately this compared $XX.X at end as June and of year. $XXX.X to assets Cash the last at of Total $XX.X June as cash year approximately were million million the equivalents and this of of of compared as the last of year. were million
the and the certain condition and liabilities. accounting commitments back financial lease Going operating appear lease now standard finance of assets adoption, as statement to lease new on
year, As A million $XX.X equity operating of June. $XX.X our XX, this end Total of and liabilities respectively. totaled assets finance was and Class million and the of June approximately million stockholder's at $XX.X lease
it remarks. turn for now to over That Rick I'll concludes Q&A. my
