January 31, 2014 / 12:20 PM / in 3 years

Legg Mason swings to a profit on inflows

1 Min Read

Jan 31 (Reuters) - Asset manager Legg Mason Inc on Friday reported a profit in the year-end quarter and posted a net inflow of investor cash.

For its fiscal third quarter ended Dec. 31, the Baltimore company recorded net income of $81.7 million, or 67 cents per share, compared with a net loss of $453.9 million, or $3.45 per share, in the same period a year ago, when it took impairment charges.

Analysts surveyed by Thomson Reuters I/B/E/S, on average, expected earnings of 66 cents per share in the most recent quarter.

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