Franklin Resources (BEN) Q2 2012 Pre Recorded Earnings Call May 02, 2012 12:00 am ET Executives Gregory Eugene Johnson - Chief Executive Officer, President, and Director Kenneth Allan Lewis - Chief Financial Officer, Principal Accounting officer and Executive Vice President PresentationOperator Welcome to the Franklin Resources Earnings Commentary for the quarter ended March 31, 2012.
Statements made in this commentary regarding Franklin Resources Inc., which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from any future results expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are described in more detail in Franklin's recent filings with the Securities and Exchange Commission, including in the Risk Factors and MD&A sections of Franklin's most recent Form 10-K and 10-Q filing. This commentary was prerecorded. Gregory Eugene Johnson Hello, and welcome to the second quarter earnings commentary. I'm Greg Johnson, CEO; along with Ken Lewis, our CFO. The March quarter got off to a strong start for us as increased sales activity and the market tailwind led to increased assets under management. Net new flows turned positive again this quarter, driven by the increase in sales, with long-term flows positive across all investment objectives for the first time in nearly 3 years. Most importantly, long-term relative investment performance remained strong across the firm. Net income also rebounded, and quarterly earnings per share of $2.32 reached a record high.