Virtus Investment Partners, Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Virtus Investment Partners, Inc. (VRTS) announced a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $41 million, or $5.71 per share. This compares with $30.9 million, or $4.19 per share, in last year's third quarter.

Excluding items, Virtus Investment Partners, Inc. reported adjusted earnings of $49.6 million or $6.92 per share for the period.

Analysts on average had expected the company to earn $6.8 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.5% to $227 million from $219.3 million last year.

Virtus Investment Partners, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $41 Mln. vs. $30.9 Mln. last year. -EPS (Q3): $5.71 vs. $4.19 last year. -Revenue (Q3): $227 Mln vs. $219.3 Mln last year.