Federated Investors Profit In Line With Estimate, Revenue Misses

(RTTNews) - Asset manager Federated Investors Inc (FII) on Thursday reported fourth-quarter net earnings of $39.6 million or $0.38 per share compared with $41 million or $0.39 per share last year.

Revenues for the quarter were $217.9 million compared with $214.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.38 per share on revenues of $221.3 million for the quarter. Analysts' estimates typically exclude special items.

Federated said the rise in revenue was due to higher average equity assets under management and a drop in voluntary fee waivers related to certain money market assets, partly offset by lower average money market assets.

The company's total managed assets were $362.9 billion at December 2014, down 4 percent from last year and up 3 percent from September 2013.

Federated has declared a quarterly dividend of $0.25 per share.