April 23 Asset manager Janus Capital Group
reported a 24 percent rise in first-quarter profit due
to lower expenses a charge taken a year ago.
For the three months that ended March 31, the Denver
company's net income rose to $28 million, or 15 cents per share,
from $22.6 million, or 12 cents per share, a year earlier. One
driver was a $7.2 million charge Janus took in the year-ago
quarter for early extinguishment of debt.
The latest quarter's per-share result was in line with
analyst estimates according to Thomson Reuters I/B/E/S.
Total assets under management rose to $163.8 billion at
March 31, from $156.8 billion three months earlier. During the
quarter, market appreciation added $11 billion to the company's
assets, offset by net outflows of $3.9 billion excluding money
Janus also approved a 17 percent increase in its quarterly
dividend to 7 cents per share.