were up today after the money manager reported quarterly earnings that were 28% higher than last year.
For its fiscal second quarter, the San Mateo, Calif.-based company earned $221.3 million, or 85 cents a share, compared with $172.8 million, or $67 cents a share, in the year-ago period. Franklin's results were 6 cents shy of the Thomson First Call consensus estimate. Revenue was $1.05 billion vs. $879 million during the same period the previous year. In the quarter ended Dec. 31, 2004, net income was $240 million, or 92 cents per diluted share, on revenue of $986 million.
The results included a $42 million charge representing the previously announced settlement with the Ontario Securities Commission concerning market-timing activity, the company said.
As of March 31, 2005, assets under management by the company's subsidiaries were $412.1 billion, as compared to $402.2 billion last quarter and $351.6 billion at this time last year, according to the company.
Franklin shares were recently up 10 cents at $66.58.