Reporting their second quarter results today, asset management company Legg Mason had a net income of $45.8 million this quarter, which ended September 30th. This is a substantial improvement from a year ago, when the Baltimore firm suffered a $108.7 million quarterly loss.

Assets under management were reported at $702.7 billion, up by 7 percent from last quarter's $656.9 billion AUM but down 17 percent from $841.9 billion in September of last year. 

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