Franklin Resources Q4 Profit Down 10% - Quick Facts

(RTTNews) - Franklin Resources, Inc. (BEN) reported a 10 percent decrease in profit for the fourth quarter from last year as flat revenues were more than offset by higher expenses.

The company's fourth-quarter attributable net income was $425.2 million or $0.76 per share, down from $472.1 million or $0.82 per share in the year-ago period.

Total operating revenues for the quarter edged up slightly to $1.62 billion from $1.61 billion in the same period last year.

Total assets under management or AUM were $753.2 billion at the end of the fourth quarter, up $10.4 billion during the quarter due to $16.3 billion of net market change and other, partially offset by $5.9 billion of net outflows. AUM rose 3 percent from the year-ago period.