Tuesday, Eaton Vance Corp. (EV) announced that its fourth-quarter net income increased from the previous year quarter.
The company recorded fourth quarter net income of $48.4 million, compared to net income of $35.0 million in the fourth quarter of fiscal 2008. On a per share basis, net income was $0.39, compared to $0.28 per share in the year ago quarter.
Operating income in the fourth quarter was $76.9 million, compared to operating income of $76.4 million in the fourth quarter of fiscal 2008.
Adjusted operating income of $85.7 million in the fourth quarter of fiscal 2009 was 19% higher than the $72.1 million of adjusted operating income in the third quarter of fiscal 2009 and 7% below the $92.6 million of adjusted operating income in the fourth quarter of fiscal 2008.
Total revenue for the fourth quarter increased to $254.1 million from $249.8 million in the fourth quarter of fiscal 2008.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share on revenues of $250.31 million for the quarter. Analysts' estimates typically exclude special items.
Net income for the fiscal year was $130.1 million or $1.08 per share, compared to $195.7 million or $1.57 per share for the previous year period. Total revenue for the fiscal year was $890.4 million versus $1.09 billion for the previous year.
Eaton Vance is currently being traded at $29.58 down $0.96 or 3.14% on the NYSE.
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