Manning & Napier, Inc. (NYSE: MN), (“Manning & Napier” or “the Company”) today reported 2012 second quarter results for the period ended June 30, 2012.
- Economic net income, a non-GAAP measure, of $22.7 million, or $0.25 per adjusted share
- Economic income, a non-GAAP measure, increased 1% to $36.7 million year-over-year
- AUM at June 30, 2012 was $42.4 billion, compared with $44.7 billion at March 31, 2012
- Second quarter revenue decreased 5% year-over-year and 4% sequentially to $81.5 million
- Manning & Napier Group, LLC distributed to its members $31.3 million in cash for the quarter and $62.6 million year-to-date, resulting in a $0.16 per share second quarter dividend
- Launched actively-managed ETF-based target date collective investment trusts, with additional product launches planned in 2012
Patrick Cunningham, Manning & Napier’s Chief Executive Officer, commented, “The Company remains focused on the fundamentals that have been at the core of our business success over the last four decades. We understand ongoing market volatility and the changing dynamics of our industry dictate that we must continually enhance and transform our business to succeed. This often means looking past short-term sentiment to identify opportunities that meet the long-term needs of our clients while adhering closely to our proven philosophies. We continue to have strong conviction in the positioning of our client portfolios for long-term sustained growth and have focused our efforts on servicing our clients during this difficult and prolonged period of market volatility. Looking to the future growth of our business, we continue to launch products and services that complement our existing product offerings and represent new opportunities where we have identified favorable market dynamics. The actively managed ETF-based target date product is one example of our responsiveness to changing industry dynamics. The continuing focus across the firm on consultative solutions that bring our clients close to us is another example. We are also continuing to increase headcount with a focus on distributing and supporting our new product and service offerings. Finally, we pride ourselves on returning value to our shareholders, evidenced by our recent announcement of a second quarterly dividend of $0.16 per share in conjunction with a $31.3 million distribution.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV