Waddell & Reed 3rd-qtr profit rises, sells Legend

Wed Oct 31, 2012 7:26am EDT

Oct 31 (Reuters) - Waddell & Reed Financial Inc reported a higher third-quarter profit, and the asset manager agreed to sell its Legend investment unit to First Allied Holdings Inc.

The company's net income from continuing operations of rose to $52.1 million, or 61 cents per share, from $39.4 million, or 46 cents per share, a year ago.

Total operating revenue was up 5 percent to $293.4 million.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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