Virtus Investment Partners, Inc. (VRTS) announced a profit for its third quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $41 million, or $5.71 per share. This compares with $30.9 million, or $4.19 per share, in last year's third quarter.
Excluding items, Virtus Investment Partners, Inc. reported adjusted earnings of $49.6 million or $6.92 per share for the period.
Analysts on average had expected the company to earn $6.8 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.5% to $227 million from $219.3 million last year.
Virtus Investment Partners, Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $41 Mln. vs. $30.9 Mln. last year.
-EPS (Q3): $5.71 vs. $4.19 last year.
-Revenue (Q3): $227 Mln vs. $219.3 Mln last year.
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