So, let me start with the second quarter 2012. Second quarter earnings decreased by 8% from a year ago and diluted earnings per share for the second quarter of $0.28 represents a 3% decrease from the $0.29 reported for the second quarter of 2011. We also reported a 1% increase in revenue during the second quarter of 2012 versus the second quarter of 2011.Now, second quarter revenues were also up 1% over first quarter 2011 revenues. During second quarter of 2012, the SIVs had little effect on earnings. In addition, during second quarter 2012, our end of quarter non-cash asset balances under management decreased by $5.6 billion. Of that, SEI's assets under management increased slightly by $100 million during the quarter, while LSV's assets under management fell by $5.7 billion.
SEI Investments Company's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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