Third quarter earnings were 13% lower than earnings a year ago on revenue increase of 6%. Diluted earnings per share for the third quarter of $0.27 compares to $0.30 reported for the third quarter of 2010 a drop of 10%, our earnings for the quarter were affected by a loss attributable to the SIVs on our balance sheet which netted to a decrease to earnings of approximately $800,000. Now this compares to an $8.7 million increase to earnings due to SIVs in the third quarter of 2010. Now this swing represents approximately $0.03 per share.Also during the third quarter of 2011, our non-cash asset balances under management experienced significant losses. SEI’s assets under management fell by $19.5 billion during the quarter including a $11.5 billion drop in LSVs assets under management.
SEI Investments CEO Discusses Q3 2011 Results - Earnings Call Transcript
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