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<PAGE>
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) OCTOBER 14,1996
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SMITH BARNEY HOLDINGS INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-12484 06-1274088
- -------------------------------- --------------- -------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
388 Greenwich Street, New York, NY 10013
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(Address of principal executive offices) (Zip Code)
(212) 816-6000
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(Registrant's telephone number, including area code)
Page 1 of 4 pages
No exhibits are being filed with this report.
<PAGE>
SMITH BARNEY HOLDINGS INC.
Current Report on Form 8-K
Item 5. Other Events
------------
Results of Operations
- ---------------------
(Preliminary and Unaudited)
This report summarizes the results of operations of Smith Barney Holdings Inc.
(the "Company") for the three and nine-month periods ended September 30, 1996
and 1995 and provides certain additional financial information.
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<PAGE>
SMITH BARNEY HOLDINGS INC.
SELECTED FINANCIAL DATA
(Preliminary and Unaudited)
(In millions)
September 30,
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1996 1995
---- ----
Total assets $ 46,633 $39,660
Total debt obligations $ 5,048 $ 4,340
Total stockholder's equity $ 2,635 $ 2,475
Assets managed $105,418 $92,181
Three Nine
months ended months ended
September 30, September 30,
-------------- --------------
1996 1995 1996 1995
---- ---- ---- ----
Revenues:
Commissions $ 498 $ 536 $1,680 $1,475
Principal trading 243 255 786 762
Investment banking 288 243 864 585
Asset management fees 343 272 991 751
Other 22 24 79 84
------ ------ ------ ------
Total non-interest revenues 1,394 1,330 4,400 3,657
------ ------ ------ ------
Interest and dividends 488 434 1,396 1,311
Interest expense 382 341 1,095 1,029
------ ------ ------ ------
Net interest and dividends 106 93 301 282
------ ------ ------ -------
Net revenues 1,500 1,423 4,701 3,939
------ ------ ------ ------
Expenses excluding interest:
Employee compensation and benefits 844 829 2,655 2,359
Communications, occupancy and equipment 142 143 420 436
Other expenses 173 151 545 439
------ ------ ------ ------
Total expenses, excluding interest 1,159 1,123 3,620 3,234
------ ------ ------ ------
Income before provision for
income taxes 341 300 1,081 705
Provision for income taxes 134 123 422 296
------ ------ ------ ------
Net income $ 207 $ 177 $ 659 $ 409
====== ====== ====== ======
Note: Certain prior year amounts have been reclassified to conform to the
current year's presentation.
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<PAGE>
SIGNATURE
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.
Date: October 14, 1996 SMITH BARNEY HOLDINGS INC.
By: /s/Michael J. Day
-------------------------------
Michael J. Day
Vice President and Controller
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