Artisan Partners: 4Q Earnings Snapshot
MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Monday reported fourth-quarter net income of $32.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Milwaukee-based company said it had net income of 57 cents. Earnings, adjusted for non-recurring costs, came to 61 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The investment management firm posted revenue of $191.5 million in the period.
For the year, the company reported profit of $158.3 million, or $2.84 per share. Revenue was reported as $828.6 million.
Artisan Partners shares have climbed 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.69, a drop of 38 percent in the last 12 months.