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<PAGE> 1
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, 1997
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SMITH BARNEY HOLDINGS INC.
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(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Delaware 1-12484 06-1274088
- ---------------------------- ------------ ------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
</TABLE>
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> 2
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 six month periods ended June 30, 1997 and 1996
and provides certain additional financial information.
2
<PAGE> 3
SMITH BARNEY HOLDINGS INC.
SELECTED FINANCIAL DATA
(PRELIMINARY AND UNAUDITED)
(IN MILLIONS)
<TABLE>
<CAPTION>
JUNE 30,
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1997 1996
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<S> <C> <C>
Total assets $ 55,689 $ 43,950
Total debt obligations $ 7,227 $ 5,714
Total stockholder's equity $ 2,991 $ 2,528
Total assets under fee-based management $177,405 $143,476
</TABLE>
<TABLE>
<CAPTION>
THREE SIX
MONTHS ENDED MONTHS ENDED
JUNE 30, JUNE 30,
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1997 1996 1997 1996
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<S> <C> <C> <C> <C>
Revenues:
Commissions $ 576 $ 577 $1,183 $1,182
Principal transactions 250 265 514 543
Investment banking 254 299 518 576
Asset management and administration fees 386 331 762 648
Other 26 29 52 57
------ ------ ------ ------
Total non-interest revenues 1,492 1,501 3,029 3,006
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Interest and dividends 599 463 1,160 908
Interest expense 482 363 926 713
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Net interest and dividends 117 100 234 195
------ ------ ------ ------
Net revenues 1,609 1,601 3,263 3,201
------ ------ ------ ------
Expenses excluding interest:
Employee compensation and benefits 897 898 1,812 1,811
Communications 72 74 145 148
Occupancy and equipment 66 65 129 130
Other expenses 186 190 390 372
------ ------ ------ ------
Total expenses, excluding interest 1,221 1,227 2,476 2,461
------ ------ ------ ------
Income before provision for
income taxes 388 374 787 740
Provision for income taxes 157 145 318 288
------ ------ ------ ------
Net income $ 231 $ 229 $ 469 $ 452
====== ====== ====== ======
</TABLE>
Note: Certain prior year amounts have been reclassified to conform to the
current year's presentation.
3
<PAGE> 4
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, 1997 SMITH BARNEY HOLDINGS INC.
By: /s/ MICHAEL J. DAY
----------------------------------
Michael J. Day
Vice President and Controller
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