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) July 15, 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
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(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)
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No exhibits are being filed with this report.
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SMITH BARNEY HOLDINGS INC.
Current Report on Form 8-K
Item 5. Other Events
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Results of Operations
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(Preliminary and Unaudited)
This report summarizes the results of operations of Smith Barney Holdings Inc.
(the "Company") for the three and six-month periods ended June 30, 1996 and
1995 and provides certain additional financial information.
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SMITH BARNEY HOLDINGS INC.
SELECTED FINANCIAL DATA
(Preliminary and Unaudited)
(In millions)
June 30,
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1996 1995
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Total assets $ 44,075 $39,043
Total debt obligations $ 5,715 $ 4,125
Total stockholder's equity $ 2,528 $ 2,433
Assets managed $103,719 $87,429
Three Six
months ended months ended
June 30, June 30,
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1996 1995 1996 1995
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Revenues:
Commissions $ 577 $ 491 $1,182 $ 939
Principal trading 265 225 543 507
Investment banking 298 226 576 342
Asset management fees 331 242 648 479
Other 30 32 57 60
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Total non-interest revenues 1,501 1,216 3,006 2,327
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Interest and dividends 463 470 908 877
Interest expense 363 373 713 688
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Net interest and dividends 100 97 195 189
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Net revenues 1,601 1,313 3,201 2,516
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Expenses excluding interest:
Employee compensation and benefits 898 788 1,811 1,530
Communications, occupancy and equipment 139 147 278 293
Other expenses 190 148 372 288
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Total expenses, excluding interest 1,227 1,083 2,461 2,111
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Income before provision for
income taxes 374 230 740 405
Provision for income taxes 145 97 288 173
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Net income $ 229 $ 133 $ 452 $ 232
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Note: Certain prior year amounts have been reclassified to conform to the
current year's presentation.
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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: July 15, 1996 SMITH BARNEY HOLDINGS INC.
By: /s/Michael J. Day
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Michael J. Day
Vice President and Controller
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