Fortress makes USD190m GAAP net loss in third quarter

Fortress makes USD190m GAAP net loss in third quarter

Fortress Investment Group made a GAAP net loss of USD190m for the quarter ended 30 September 2009.

The GAAP net loss attributable to class A shareholders was USD59m, or USD0.43 per diluted share, as compared to a loss of USD0.66 per diluted share for the quarter ended 30 September 2008.

Excluding principals agreement compensation, third quarter GAAP net income was USD50m.

For the third quarter, fund management distributable earnings were USD51m compared to USD63m in the third quarter of 2008.

Pre-tax DE for the third quarter was USD57m, or USD0.11 per dividend paying share/unit, versus a loss of USD20m for the third quarter of 2008.

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