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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) OCTOBER 13, 1997
SMITH BARNEY HOLDINGS INC.
(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
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(212) 816-6000
(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 nine month periods ended September 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>
SEPTEMBER 30,
1997 1996
-------- --------
<S> <C> <C>
Total assets $ 61,906 $ 45,985
Total debt obligations $ 8,323 $ 5,052
Total stockholder's equity $ 3,140 $ 2,635
Total assets under fee-based management $188,115 $146,671
</TABLE>
<TABLE>
<CAPTION>
THREE NINE
MONTHS ENDED MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
1997 1996 1997 1996
------ ------ ------ ------
<S> <C> <C> <C> <C>
REVENUES:
Commissions $ 677 $ 498 $1,860 $1,680
Principal transactions 252 243 766 786
Investment banking 364 288 882 864
Asset management and administration fees 433 343 1,195 991
Other 28 22 80 79
------ ------ ------ ------
Total non-interest revenues 1,754 1,394 4,783 4,400
------ ------ ------ ------
Interest and dividends 627 488 1,787 1,396
Interest expense 496 382 1,422 1,095
------ ------ ------ ------
Net interest and dividends 131 106 365 301
------ ------ ------ ------
Net revenues 1,885 1,500 5,148 4,701
------ ------ ------ ------
EXPENSES EXCLUDING INTEREST:
Employee compensation and benefits 1,034 844 2,846 2,655
Communications 75 77 220 225
Occupancy and equipment 66 65 195 195
Other expenses 203 173 593 545
------ ------ ------ ------
Total expenses, excluding interest 1,378 1,159 3,854 3,620
------ ------ ------ ------
Income before provision for income taxes 507 341 1,294 1,081
Provision for income taxes 206 134 524 422
------ ------ ------ ------
Net income $ 301 $ 207 $ 770 $ 659
====== ====== ====== ======
</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: OCTOBER 13, 1997 SMITH BARNEY HOLDINGS INC.
BY: /S/MICHAEL J. DAY
------------------------
Michael J. Day
Executive Vice President
and Controller
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