This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Janus Capital Group Inc. Announces Second Quarter 2013 Results

Janus Capital Group Inc. (“JCG”) (NYSE: JNS) today reported second quarter net income of $15.8 million, or $0.08 per diluted share, compared with first quarter 2013 net income of $28.0 million, or $0.15 per diluted share, and net income of $23.4 million, or $0.13 per diluted share, in the second quarter 2012. Second quarter 2013 included a charge of $0.04 per share from the early extinguishment of debt associated with the exchange of $110.0 million of JCG’s 3.25% convertible senior notes due 2014 for $116.6 million of newly issued 0.75% convertible senior notes due 2018 and a charge of $0.02 per share (or a $0.04 per share decline quarter over quarter) primarily due to the mark-to-market impact on our seed capital program.

Flows and Assets Under Management

Average assets under management during the second quarter 2013 were $164.2 billion compared with $161.8 billion during the first quarter 2013 and $155.0 billion during the second quarter 2012.

At June 30, 2013, JCG’s total assets under management were $160.6 billion compared with $163.8 billion at March 31, 2013 and $152.4 billion at June 30, 2012.

The decrease in complex-wide assets during the second quarter 2013 reflects long-term net outflows of $5.4 billion offset by net market appreciation of $2.2 billion. Fundamental equity and mathematical equity long-term net outflows totaled $4.3 billion and $1.2 billion, respectively, while fixed income long-term net inflows totaled $0.1 billion.

Investment Performance

As of June 30, 2013, 50% of complex-wide mutual funds had a 4- or 5-star Overall Morningstar Rating TM. 1

As of June 30, 2013, 45%, 37% and 40% of fundamental equity mutual fund assets ranked in the top half of their Morningstar categories on a one-, three- and five-year total return basis, respectively. 2

Fixed income mutual funds continue to generate strong long-term relative investment performance with 54%, 100% and 100% of mutual fund assets ranked in the top half of their Morningstar categories on a one-, three- and five-year total return basis as of June 30, 2013. 3

Mathematical equity relative investment performance declined, with 33%, 57% and 55% of strategies surpassing their respective benchmarks, net of fees, over the one-, three- and five-year periods, respectively, as of June 30, 2013. 4

Financial Discussion

Financial Highlights
(dollars in millions, except per share data or as noted)
     
Three Months Ended
June 30, March 31, June 30,
2013 2013 2012
 
 
Average Assets ( in billions) $ 164.2 $ 161.8 $ 155.0
Ending AUM ( in billions) $ 160.6 $ 163.8 $ 152.4
Revenues $ 215.8 $ 214.2 $ 206.0
Operating Expenses $ 157.4 $ 159.5 $ 153.9
Operating Income $ 58.4 $ 54.7 $ 52.1
Operating Margin 27.1 % 25.5 % 25.3 %
 
Net Income Attributable to JCG $ 15.8 $ 28.0 $ 23.4
 
Diluted Earnings per Share $ 0.08 $ 0.15 $ 0.13
             
 

Second quarter 2013 revenues of $215.8 million increased from first quarter 2013, primarily due to higher investment management fee revenue, partially offset by lower private account performance fees. Second quarter 2013 operating expenses of $157.4 million decreased $2.1 million, or 1.3%, from first quarter 2013, primarily due to lower long-term incentive compensation expenses.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs