Janus Capital Group
said Thursday that its third-quarter net income fell slightly, due in part to a minor decline in average assets under management. Meanwhile, revenue for the period rose over the same period last year.
Denver-based Janus reported earnings of $29.5 million, or 15 cents a share, compared with year-ago net income of $31.7 million, or 15 cents a share. Revenue rose to $229 million from $218.4 million.
The results were below analysts' expectations, which called for earnings per share of 16 cents on revenue of $246 million, according to Thomson First Call.
According to Janus, average assets under management during the third quarter fell to $153.2 billion, compared with $154 billion during the previous quarter. As of Sept. 30, the company's total assets under management were $158.3 billion, compared with $153.4 billion on June 30, and $139.4 billion at Sept. 30, 2005.
Elsewhere, San Mateo, Calif-based
announced earnings of $381.7 million, or $1.49 a share, compared with $334.5 million, or $1.28 a share, in the year-ago period. Revenue for the quarter came in at $1.3 billion, compared with $1.16 billion in the same period last year.
Analysts had expected earnings of $1.35 a share on revenue of $1.28 billion.
Assets under management by the company's subsidiaries were $511.3 billion at Sept. 30, 2006, compared with $490.1 billion at June 30, 2006, and $453.1 billion at Sept. 30, 2005, according to the company.
Earnings from Janus and Franklin followed a slew of other reports from asset managers earlier in the week.
T. Rowe Price Group
said its third-quarter earnings rose to $128 million, or 46 cents a share, from $116 million, or 43 cents a share, a year ago. Its earnings, however, fell short of Wall Street estimates of 49 cents a share.
reported earnings of $252.9 million, or 87 cents a share, up from $211.9 million, or 74 cents a share, during the same period the previous year, matching analysts' estimates.
The company also said revenue rose to $934 million, but came in below estimates of $943.8 million.
, which warned earlier in the month of lower-than-expected earnings, reported results that matched its lowered forecast.
The company said earnings increased to $143.7 million, or $1 a share, from $121 million, or 99 cents a share, in the same period last year. Legg Mason had previously predicted EPS of 96 cents to $1.02, which were significantly below Wall Street's estimate of $1.16 a share.
Waddell & Reed Financial
said earnings of $24.6 million, or 30 cents a share, were essentially flat compared with the year-ago period, and
Calamos Asset Management
reported earnings of $8 million, or 34 cents a share, during the quarter, up from $7.6 million, or 33 cents a share, in the same period last year.