Earnings, Revenue Down at Janus - TheStreet

Earnings, Revenue Down at Janus

The company's second-quarter assets under management rise 12.9% from the first quarter.
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Mutual-fund company

Janus Capital

(JNS)

said second-quarter earnings fell from a year ago, but assets under management rose nearly 13% during the last three months.

Janus earnings $47.5 million, or 21 cents a share, on revenue of $250.6 million for the quarter ended June 30. The firm reported a profit of $73.7 million, or 33 cents a share, with revenue of $310.4 million in the comparable 2002 quarter.

Assets under management as of June 30 totaled $149.8 billion, up $17.1 billion, or 12.9% from $132.7 billion on March 31. Net inflows totaled $1.6 billion, and market appreciation accounted for $15.5 billion of the increase in assets.

In the second quarter last year, Janus had a total of $161.8 billion in assets under management. The average for assets under management during the quarter fell to $144.5 billion from $178 billion a year ago.

Janus recorded $199.1 million in investment-management fees in the second quarter, down from $256.7 million last year.