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Rating:Alliance Earnings Fall Short Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 28, 2004

Alliance Earnings Fall Short

by: Theresa Sim

Alliance Capital reported second quarter earnings on Wednesday. Earnings were $0.53 per diluted share, $0.04 short of the $0.57 that analysts had estimated.

Assets under management fell by one percent from $483.6 billion at the end of the first quarter to $480.6 billion at the end of the second quarter.

Retail assets under management dropped by 3.2 percent, from $158.7 billion at the end of March to $153.7 billion at the end of June. Approximately 18 percent, or $8.9 million of the $5.0 billion decrease was a result of net sales.

Alliance partly made up for the loss in retail assets by increasing institutional and private client assets by 0.4 percent and 1.7 percent, respectively. 

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