Stilwell Says Earnings Will Suffer if the Market Slide Continues
Chris Frankie
03/30/01 - 04:05 PM EST
Stilwell Financial (SV Quote) said its earnings could be hurt if conditions in the financial markets continue to worsen, the company cautioned in a filing with the
Securities and Exchange Commission.
Stilwell, the parent company of mutual fund firm
Janus Capital, attributed the outlook to the downturn in the markets during the second half of last year and the first two months of this year.
"Revenues during 2001 are expected to decrease from the comparable 2000 periods to the extent that the markets continue to be unfavorable to aggressive equity growth investors," the company wrote in the filing. "A decrease in revenues could result in lower operating income and net income."
The company also warned of weaker operating margins in the future.
Shares of Stilwell, which is based in Kansas City, Mo., gained 75 cents, or 3%, to $26.53 in recent
New York Stock Exchange trading.
