SEI Investments Q1 Profit Rises- Quick Facts

(RTTNews) - Financial services company SEI Investments Co. (SEIC) on Wednesday recorded higher earnings in the first quarter, helped by improved revenues and a net gain from investments. Earnings and revenues came in above the Street expectations.

The company posted first-quarter net income of $129.5 million, or $0.89 per share, up 19 percent from last year's $109.2 million, or $0.72 per share.

On average, 6 analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share in the quarter. Analysts' estimates usually exclude one-time items.

Quarterly revenues rose 10 percent to $455.7 million from $414.8 million in the year-ago quarter. Five analysts expected the company to report revenues of $455 million in the quarter.

The company recorded a net gain from investments of around $332 thousand during the first quarter, compared to a net loss of around $4 million in the prior-year period.