Artisan Partners Asset Management Q1 Adj. Profit Tops View - Quick Facts

(RTTNews) - Artisan Partners Asset Management Inc. (APAM) Tuesday reported first-quarter net income of $8.6 million, up from $3.0 million last year. Loss per share for the latest first quarter was $2.29, compared to profit of $0.19 per share in the prior year period.

Adjusted earnings for the quarter were $56.0 million or $0.78 per share, compared to $33.2 million or $0.47 per share in the prior year period. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.75 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $201.80 million from $148.20 million last year, while six analysts expected revenues of $202.34 million.