MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 27, 2010 Legg Earns Nearly Double Estimates Legg Mason [see profile] almost doubled analysts' estimates with its earnings results, despite net outflows. Today the Balitmore-based mutual fund firm reported second quarter fiscal 2011 adjusted income per diluted share of $0.76, up from $0.59 in fiscal Q2 2010 and $0.60 in fiscal Q1 2011. Bloomberg reports that analysts estimated Legg would return only $0.39. "Our operating margin, as adjusted, is the highest since September of 2008," stated Mark Fetting, chairman and CEO. Legg's AUM rose from $645.4 billion on June 30 to $673.5 billion, despite $12.7 billion in net outflows. Printed from: MFWire.com/story.asp?s=33834 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |