Janus Q3 Earnings Up, Meets Estimates

(RTTNews) - Denver, Colorado-based Janus Capital Group Inc. (JNS) Thursday reported higher third-quarter net profit, meeting the Street view. Total revenues, however, missed estimates.

Net profit rose to $40.9 million or $0.22 per share, from $32.6 million or $0.17 per share last year. On average, eleven analysts polled by Thomson-Reuters estimated earnings to be $0.22. Analysts' estimates typically exclude one-time items.

The company recorded assets under management of $174.4 billion compared with $166.7 billion a year ago.

The company's operating income increased to $71.6 million from $59 million a year earlier.

Janus' total revenues grew to $237 million from $217.7 million in the previous year. Analysts projected revenues to be $239.28 million.

Janus recommended a quarterly cash dividend of $0.08 per share payable on November 21, to shareholders of record on November 7.