Janus Capital net falls on early debt retirement
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E-mailBOSTON (Reuters) - Denver asset manager Janus Capital Group said third quarter net income fell by half because of the early retirement of debt, while revenue rose on higher investment management fees.
For the three months ended Sept 30, Janus reported net income of $19.9 million, or 10 cents per share, compared with net income of $40.9 million, or 22 cents per share in the same period a year ago.
Adjusted for the early retirement of $345 million of debt during the most recent quarter, Janus said net income was 22 cents a share. On that basis analysts expected the company to report net income of 23 cents per share according to Thomson Reuters I/B/E/S.
Janus, which hired famed bond fund manager Bill Gross last year, said firmwide assets were $185 billion at September 30, down from $192.5 billion at June 30.
(Reporting by Ross Kerber; Editing by Chizu Nomiyama)
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