Artio Global Investors Inc. (ART) said its fourth-quarter GAAP net income grew to $25.7 million or $0.56 per share from $13.2 million or $0.32 per share in the prior year quarter.
For the fourth quarter of 2009, the company reported adjusted net income of $36.1 million or $0.60 per share, an increase of 62% from $22.2 million or $0.37 per share for the fourth quarter of 2008. On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.46 for the quarter. Analysts' estimate typically excludes one-time items.
Revenue for the period increased 23% to $89.6 million from $72.6 million in the year-ago period. Three analysts estimated revenues of $89.76 million for the quarter.
For comments and feedback: editorial@rttnews.com