Legg Mason Fourth Quarter Earnings Call
14th May 2008 00:00 AM |
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| The company posted loss of $255.5 million mainly as it took a charge related to a bail-out of money market funds that were exposed to risky securities |
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| Revenues were $1.07 billion, down 6% from $1.14 billion in fiscal 2007, reflecting lower investment advisory fees as a result of the decline in performance fees and year-over-year changes in the mix of equity and fixed income assets. The company continued to provide, on a proactive basis, financial support to several of money market funds. Equity outflows were $17 billion and fixed income outflows were $7 billion, while liquidity inflows totaled $5 billion. |
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Legg Mason Third Quarter Earnings Call
26th April 2008 00:00 AM |
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| Profit was $174.6 million and reflects full-quarter contributions from the company’s acquisitions of Citigroup Asset Management and the Permal Group. |
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| Revenues were $1.13 billion, reflecting higher average assets under management, favorable equity market conditions and an increase in performance fees of $39.4 million from the prior quarter. Cash income from continuing operations was $226.7 million, or $1.57 per share, compared to $191.1 million, or $1.32 per share, during Q2 of fiscal 2007. Total assets under management grew to $944.8 billion as of December 31, 2006, up $53.4 billion, or 6%, from $891.4 billion at September 30, 2006. |
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Legg Mason Third Quarter Earnings Call
19th February 2001 00:00 AM |
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| Revenues increased 5% from $1.13 billion in 2006 to $1.19 billion, reflecting an increase in AUM, in fixed income and liquidity assets. |
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| The asset management firm realised a 12% drop in net income to $154.6 million or $1.07 a share from $174.6 million or $1.21 a share in 2006 after adjusting for a liquidity charge of $23 million or 16 cents a share as the market remained volatile. The decline in the equity markets was harsh and caused substantial investor worry. The bond markets continued to show significant strain, with little reaction to government stimulation. |
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Legg Mason Second Quarter Earnings Call
27th October 2007 00:00 AM |
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| Net income was $178 million or $1.23 a share, up 24% from $144 million or $1.00 a share in 2006 following strong revenue growth. |
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| Revenues rose 14% from $1 billion in 2006 to $1.2 billion, reflecting an increase in assets under management to $1.012 trillion. However, assets at some of the divisions declined as a result of outflows in key equity products. Investment managers continue to extend their strategies into new product lines, and develop alpha-oriented and alternative offerings to meet clients’ demand for new sources of performance that provide long-term growth opportunities. |
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Legg Mason First Quarter Earnings Call
18th August 2007 00:00 AM |
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| Profit rose 22% to $191 million driven by a rise in assets under management and higher performance fees. |
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| The asset management company reported revenue increase of 16% to $1.21 billion, reflecting a higher level of average assets under management in all asset classes and a substantial increase in performance fees earned by the Permal Group. Performance fees were $54.3 million versus $17.9 million a year earlier. Total client cash flows were $2 billion due to inflows of $8 billion and $1 billion in fixed-income and money-fund products, respectively. |
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Legg Mason Fourth Quarter Earnings Call
14th June 2007 00:00 AM |
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| Net income was $172.5 million or $1.19 per share compared to $150.1 million, or $1.03 per share in the prior year quarter. |
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| The leading asset management company reported revenue of $1.14 billion compared to $1.05 billion in the prior year quarter, on higher recurring advisory revenues. During the quarter, all three divisions experienced increased assets under management, with the Managed Investments division having the strongest growth in assets, primarily driven by liquidity fund flows. Total assets under management grew to a record $968.5 billion, up $23.7 billion from $944.8 billion at December 31, 2006. |
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