BGC Reports Preliminary Consolidated Revenues for the
Fourth Quarter
NEW YORK, Feb. 5, 2018 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC Partners" or "BGC"), a leading global
brokerage company servicing the financial and real estate markets,
and its publicly traded subsidiary Newmark Group, Inc. (NASDAQ:
NMRK) ("Newmark"), today updated the details regarding their fourth
quarter and full year 2017 earnings conference calls.
BGC and Newmark have decided to coordinate the timing of their
financial results press releases for the benefit of both companies'
investors. This is because BGC consolidates Newmark's results as
its "Real Estate Services" segment, which will make up a
substantial portion of BGC's consolidated revenues and earnings.
Both companies therefore believe that their financial results
should be made public at the same time. This simultaneous release
will enable all investors and analysts to have all relevant
information readily available at the same time. Newmark and BGC
expect to maintain this practice until the completion of the
proposed spin-off.1 The change in schedule is purely for
the convenience of investors.
BGC and Newmark are now both expected to issue advisory press
releases regarding the availability of their quarterly and full
year financial results before 8:00 a.m. ET on Friday, February 9, 2018. BGC will now host its
fourth quarter and full year 2017 financial results conference call
on February 9, 2018 at 8:00 a.m. ET. Newmark's fourth quarter and full
year 2017 financial results conference call will now take place
immediately following the BGC call on February 9, 2018 at approximately 8:45 a.m. ET. Details of both calls and the
related press releases are provided later in this document.
Preliminary Revenues for the Fourth Quarter
BGC's
consolidated revenues for the fourth quarter of 2017 will be above
the high-end of the range of its previously stated guidance.
Newmark generated over 50 percent of the consolidated company's
revenues.
BGC Earnings Conference Call Details
BGC Partners
plans to issue an advisory press release regarding the availability
of its consolidated quarterly and full year financial results by
8:00 a.m. ET on Friday, February 9,
2018. Please see below for details regarding this planned
release and the subsequent conference call.
The advisory release will notify the public that a full-text
financial results press release will be accessible at any of the
following pages:
http://ir.bgcpartners.com (an HTML version with Excel financial
tables or PDF)
http://ir.bgcpartners.com/news-releases (an HTML version with Excel
financial tables or PDF)
http://bgcpartners.com/category/bgc-releases/ (PDF only)
BGC will host a conference call on Friday, February 9, 2018 at 8:00 a.m. ET to discuss these results.
WHO:
|
BGC Partners, Inc.
(NASDAQ: BGCP)
|
WHAT:
|
Fourth Quarter and
Full Year 2017 financial results conference call
|
WHEN:
|
Friday, February 9,
2018 at 8:00 a.m. ET
|
WHERE:
|
http://ir.bgcpartners.com
|
HOW:
|
A list of minimum
system requirements can be found here:
|
|
http://event.on24.com/view/help/ehelp.html?text_language_id=en&fh=true&flashconsole=true&ngwebcast=true
|
A webcast replay of the conference call is expected to be
accessible at http://ir.bgcpartners.com within 24 hours of the live
call and will be available for 365 days following the call.
Additionally, call participants may dial in with the following
information:
LIVE
CALL:
|
|
Date - Start
Time:
|
2/9/2018 at 8:00 a.m.
ET
|
U.S. Dial
In:
|
1-844-309-0609
|
International Dial
In:
|
1-574-990-9937
|
Passcode:
|
447-8318
|
REPLAY:
|
|
Available From –
To:
|
2/9/2018 11:00 a.m.
ET – 2/16/2018 11:00 a.m. ET
|
U.S. Dial
In:
|
1-855-859-2056
|
International Dial
In:
|
1-404-537-3406
|
Passcode:
|
447-8318
|
(Note: If clicking on the above links does not open up a new web
page, you may need to cut and paste the above urls into your
browser's address bar.)
Newmark Earnings Conference Call Details
Newmark plans
to issue an advisory press release regarding the availability of
its consolidated quarterly and full year financial results by 8:00
a.m. ET on Friday, February 9, 2018.
Please see below for details regarding this planned release and the
subsequent conference call.
The advisory release will notify the public that a full-text
financial results press release will be accessible at any of the
following pages:
http://ir.bgcpartners.com or http://ir.ngkf.com (an HTML version
with Excel financial tables or PDF)
http://bgcpartners.com/category/bgc-releases/ or
http://www.ngkf.com/home/media-center/press-releases.aspx (PDF
only)
Newmark will host a conference call on Friday, February 9, 2018 at 8:45 a.m. ET to discuss these results.
WHO:
|
Newmark Group, Inc.
(NASDAQ: NMRK)
|
WHAT:
|
Fourth Quarter and
Full Year 2017 financial results conference call
|
WHEN:
|
Friday, February 9,
2018 at 8:45 a.m. ET
|
WHERE:
|
http://ir.bgcpartners.com or
http://ir.ngkf.com
|
HOW:
|
A list of minimum
system requirements can be found here:
|
|
https://event.on24.com/wcc/r/1576718/B5A4209CABEFF8E2DBC545A4AAE66B5E
|
A webcast replay of the conference call is expected to be
accessible at http://ir.bgcpartners.com or http://ir.ngkf.com
within 24 hours of the live call and will be available for 365 days
following the call. Additionally, call participants may dial
in with the following information:
LIVE
CALL:
|
|
Date - Start
Time:
|
2/9/2018 at 8.45 a.m.
ET
|
U.S. Dial
In:
|
1-866-393-4306
|
International Dial
In:
|
1-734-385-2616
|
Passcode:
|
228-7195
|
REPLAY:
|
|
Available From –
To:
|
2/9/2018 11:45 a.m.
ET – 2/16/2018 11:59 p.m. ET
|
U.S. Dial
In:
|
1-855-859-2056
|
International Dial
In:
|
1-404-537-3406
|
Passcode:
|
228-7195
|
(Note: If clicking on the above links does not open up a new web
page, you may need to cut and paste the above urls into your
browser's address bar.)
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. BGC offers Real Estate Services through its publicly
traded subsidiary Newmark Group, Inc. BGC owns GFI Group Inc., a
leading intermediary and provider of trading technologies and
support services to the global OTC and listed markets. BGC's
Financial Services offerings include fixed income securities,
interest rate swaps, foreign exchange, equities, equity
derivatives, credit derivatives, commodities, futures, and
structured products. BGC provides a wide range of services,
including trade execution, broker-dealer services, clearing, trade
compression, post trade, information, and other services to a broad
range of financial and non-financial institutions. Through brands
including FENICS, BGC Trader, Capitalab, Lucera, and FENICS Market
Data, BGC offers financial technology solutions, market data, and
analytics related to numerous financial instruments and
markets.
BGC's customers include many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, property owners, real estate developers,
and investment firms. BGC's common stock trades on the NASDAQ
Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC
also has an outstanding bond issuance of Senior Notes due
June 15, 2042, which trade on the New
York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is
led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please
visit http://www.bgcpartners.com. You can also follow BGC at
https://twitter.com/bgcpartners and/or
https://www.linkedin.com/company/bgc-partners.
Real Estate Services are offered through its publicly traded
subsidiary Newmark Group, Inc. ("Newmark") whose brands include
Newmark Knight Frank, Newmark Cornish & Carey, Apartment Realty
Advisors ("ARA"), Computerized Facility Integration, and Excess
Space. Newmark is a full-service commercial real estate services
business that offers a complete suite of services and products for
both owners and occupiers across the entire commercial real estate
industry.
About Newmark Group, Inc.
Newmark is a full-service
commercial real estate services business that offers a complete
suite of services and products for both owners and occupiers across
the entire commercial real estate industry. Newmark's
investor/owner services and products include capital markets
(including investment sales), agency leasing, property management,
valuation and advisory, diligence and underwriting and, under other
trademarks and names like Berkeley Point and NKF Capital Markets,
government sponsored enterprise lending, loan servicing, debt and
structured finance and loan sales. Newmark's occupier services and
products include tenant representation, global corporate services,
real estate management technology systems, workplace and occupancy
strategy, consulting, project management, lease administration and
facilities management. Newmark enhances these services and products
through innovative real estate technology solutions and data
analytics designed to enable its clients to increase their
efficiency and profits by optimizing their real estate portfolio.
Newmark has relationships with many of the world's largest
commercial property owners, real estate developers and investors,
as well as Fortune 500 and Forbes Global 2000 companies. Newmark's
Class A common stock trades on the NASDAQ Global Select Market
under the ticker symbol (NASDAQ: NMRK).
Trademarks
BGC, BGC Trader, GFI, FENICS, FENICS.COM,
Capitalab, Swaptioniser, ColleX, Newmark, Grubb & Ellis, ARA,
Computerized Facility Integration, Landauer, Lucera, Excess Space,
Excess Space Retail Services, Inc., Berkeley Point and Grubb are
trademarks/service marks, and/or registered trademarks/service
marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is
a service mark of Knight Frank (Nominees) Limited.
Proposed Spin-Off of Newmark
BGC currently expects to
pursue a distribution (or "spin-off") to its common stockholders of
all the Class A shares and Class B shares of Newmark common stock
that it then owns in a manner intended to qualify as generally
tax-free for U.S. federal income tax purposes. The Newmark common
shares owned by BGC are subject to a 180-day "lock-up" restriction
contained in the underwriting agreement for the Newmark IPO. The
distribution is subject to a number of conditions, and BGC may
determine not to proceed with the distribution if the BGC board of
directors determines, in its sole discretion, that the distribution
is not in the best interest of the Company and its stockholders.
Accordingly, the distribution may not occur on the expected
timeframe, or at all. Please see the section on "Certain
Relationships and Related-Party Transactions—Separation and
Distribution Agreement—The Distribution" in Newmark's final
prospectus.
Discussion of Forward-Looking Statements about BGC Partners
and Newmark
Statements in this document regarding BGC and
Newmark that are not historical facts are "forward-looking
statements" that involve risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements. Except as required by law, BGC and
Newmark undertake no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see BGC's and Newmark's Securities
and Exchange Commission filings, including, but not limited to, the
risk factors set forth in these filings and any updates to such
risk factors contained in subsequent Forms 10-K, Forms 10-Q or
Forms 8-K.
1 See the section of this document called
"Proposed Spin-Off of Newmark".
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