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Rating:T. Rowe Price, Off by a Penny Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, October 27, 2004

T. Rowe Price, Off by a Penny

by: Theresa Sim

While T. Rowe Price reported third quarter earnings up 25 percent from the same period last year, the earnings missed analysts' expectations by one penny.
The Baltimore, Maryland-based money manager reported diluted earnings per share of $0.62.

Assets under management were $212 billion at the end of the third quarter, $130.3 billion in U.S. mutual funds and $81.7 billion in separate accounts, subadvised funds and non-U.S. mutual funds.

Total assets under management increased by three percent, or $5.2 billion from $206.8 bill at the end of the second quarter.

Mutual fund assets grew more $2 billion from last quarter, an increase of one percent. Three-quarters of net inflows went to four funds -- the Growth Stock, Equity Income, Mid-Cap Value and Capital Appreciation funds.

T. Rowe said mutual fund inflows came from all channels, including retail, defined contribution retirement plans, and intermediary-sold. 

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