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Thursday, July 26, 2012

Federated Earnings Are A Mixed Bag

Reported by JY

Federated Investors, Inc. reported below-average numbers and results in a recent earnings report. For the Q2 of 2012, their net income fell to $40.4 million compared to $42.4 million from the second quarter of 2011. Their earnings per share was reported as 39 cents as compared to 41 cents from the same quarter of the year prior.

However, Federated's equity and fixed-income fund gross sales reached a record of $7 billion for Q2 2012.

"Continued demand for high-quality, income-oriented investment strategies fueled Federated's record gross sales of mutual funds, which topped $7 billion, during the quarter." J. Christopher Donahue, president and chief executive officer of Federated, stated.

Also, at the end of the second quarter of 2012, Federated totaled managed assets of $355.9 billion, up $6.5 billion, or 2 percent, from the year prior of the same quarter.

The story was picked up by Bloomberg and The Pittsburgh Post-Gazette

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