Janus Capital Q2 Profit Down; Promotes CFO Bruce Koepfgen To President

(RTTNews) - Asset manager Janus Capital Group, Inc. (JNS) posted net income for the second quarter of $15.8 million or $0.08 per share, compared with $23.4 million or $0.13 per share in the year ago quarter. Second-quarter 2013 included a charge of $0.04 per share from the early extinguishment of debt and a charge of $0.02 per share primarily due to the mark-to-market impact on seed capital program.

Twelve analysts, on average, polled by Thomson Reuters estimated earnings per share of $0.15 for the quarter. Analysts estimates typically exclude one-time items.

For the second quarter, revenues totaled $215.8 million, higher than last year's $206.0 million. Analysts, on the other hand, were looking for slightly higher revenues of $217.76 million for the period.

Average assets under management during the second quarter 2013 were $164.2 billion compared with $155.0 billion during the second quarter 2012.

In addition, the company said it is promoting its Chief Financial Officer Bruce Koepfgen to a newly established role as President. Replacing Koepfgen as CFO will be Jennifer McPeek, who is currently Senior Vice President and Treasurer. Both promotions will be effective August 1, 2013, the company noted.