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SEI Investments' Net Rises

Revenue climbs 11%.



reported a 19% rise in profits for the fourth quarter, aided by growth in revenue in every business segment but private banking.

Fourth-quarter earnings were $51.2 million, or 50 cents a share, compared with $43 million, or 41 cents a share, a year ago. SEI recognized $4.25 million in expense as part of a previously disclosed litigation settlement. Analysts polled by Thomson First Call were expecting earnings of 47 cents a share.

Revenue for the firm in the fourth quarter climbed by 11% from a year ago to $203.5 million. The Thomson First Call estimate was $197.51 million.

Revenue from private banking and trust for the fourth quarter fell by 3% to $70 million. The investment advisors, enterprises and money managers segments reported revenue gains of 13%, 29% and 15%, respectively, driven by stronger capital markets and new sales. Assets under management grew by $10 billion during the fourth quarter to $148.5 billion.

"We are satisfied with the results for both the quarter and the year, especially since we are in the heart of the build phase of our new strategies," said the company.

This story was created through a joint venture between and IRIS.