Net income and earnings per diluted share as of March 31, 2004 remained unchanged at $172 million and $0.68 compared to the quarter ending December 31, 2003. Net income and earnings per share were both up 58 percent compared to the same period last year. [View earnings]
Analysts polled by Reuters and Thomson FirstCall expected earnings per share of $0.71 to $0.72.
The results included a September 11, 2001-related insurance settlement of $30.3 million.
As of March 31, 2004, Franklin managed $351.6 billion in assets, a gain of 4 percent from December 31, 2003 and an increase of 39 percent compared to the same period last year.
The proportion of retail to other assets remained stable at 62 percent retail and 38 percent other from December 31, 2003 to March 31, 2004. Other assets include international and institutional assets. Retail assets made up 64 percent of total assets under management at March 31, 2003, and other assets 36 percent.
Co-CEOs Martin Flanagan
and Greg Johnson
will hold a conference call at 4:30pm EST on Thursday. [Listen to the earnings call]
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