Janus Misses Target

Fourth-quarter profits miss estimates.
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Janus

(JNS)

shares fell Wednesday after the asset manager missed Wall Street's fourth-quarter earnings estimates.

For its fourth quarter ended Dec. 31, the Denver-based company earned $18.2 million, or 8 cents a share, compared with $811 million, or $3.51 a share, in the year-ago period.

After adjusting for new stock option accounting standards and its sale of DST Systems last year, the company earned 13 cents a share, down from 23 cents a year ago and a penny shy of the Thomson First Call consensus estimate.

Adjusted numbers for the fourth-quarter 2003 exclude an $807.7 million gain from the DST Systems transaction and a charge of $74 million related to the mutual fund investigation and the writedown of certain intangible assets.

Janus shares dropped 17 cents Wednesday to $14.94.