Invesco Ltd. (IVZ), an investment management firm, Tuesday reported a loss for the fourth quarter compared with profit last year, despite higher revenues. The results particularly reflected significantly higher Amortization and impairment of intangible assets.
The company reported a loss of $1.18 billion or $2.61 per share compared with earnings of $209.3 million or $0.46 per share of last year.
Excluding items, earnings were $280.9 million or 0.62 per share compared with earnings of $237.3 million or 0.52 per share of previous year.
On average, analysts were expecting earnings of $0.58 per share. Analysts' estimates typically exclude special items.
The company recorded quarterly amortization expenses of $1.8 billion compared to $10.9 million in the prior year.Operating revenues increased $99 million to $1.69 billion from $1.59 billion for same period last year.
The Street View for revenue was $1.25 billion.
Total net flows decreased to $30.5 billion from $60.9 billion of the prior year.
Additionally, the company declared a quarterly dividend of $0.21 per share payable on March 3, to shareholders of record on February 13.
In pre-market activity, IVZ shares were trading at $29.76, up 3.95% on the New York Stock Exchange.
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