Earnings: Janus Capital, Franklin Resources

Franklin Resources reported a 21% increase in profits while Janus Capital Group experienced a 29% drop in earnings.

JAN 24, 2008

By Bloomberg

Franklin Resources today reported an increase in fourth-quarter earnings, while Janus Capital Group Inc. reported a profit loss. Franklin Resources reported a 21% increase in profits with a net income of $518.3 million, or $2.12 per share diluted, compared with $426.8 million, or $1.67 per share diluted for the 2006 fourth quarter period. Operating income at the San Mateo, Calif.-based global investment management organization for the last quarter of 2007 was up 25% from a year ago with $635.7 million reported. Assets under management from the company’s subsidiaries for the fourth quarter were up 16% at $643.8 million. Janus Capital Group reported 29% lower earnings for the 2007 fourth quarter at $29.2 million, or $0.36 per diluted share, compared with $37.7 million or $0.19 per share in the same quarter in the year-ago period. The Denver-based investment manager reported operating income at $90.2 million, a 6% drop from the 2007 third quarter. Total assets under management at the close of the quarter were up 19% at $206.7 billion.