Virtus Investment Partners, Inc. Q1 Profit Drops, Inline With Estimates

(RTTNews) - Virtus Investment Partners, Inc. (VRTS) reported a profit for first quarter that decreased from the same period last year in line with the Street estimates.

The company's earnings came in at $29.9 million, or $4.10 per share. This compares with $38.6 million, or $5.21 per share, in last year's first quarter.

Excluding items, Virtus Investment Partners, Inc. reported adjusted earnings of $39.4 million or $5.41 per share for the period.

Analysts on average had expected the company to earn $5.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.2% to $222 million from $197.9 million last year.

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

-Earnings (Q1): $29.9 Mln. vs. $38.6 Mln. last year. -EPS (Q1): $4.10 vs. $5.21 last year. -Revenue (Q1): $222 Mln vs. $197.9 Mln last year.