Franklin Resources, Inc. Announces Second Quarter Results.

Business Editors

UK REGULATORY NEWS

SAN MATEO, Calif.--(BUSINESS WIRE)--April 24, 2003

Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE:BEN) today reported net income of $109.6 million, or $0.43 per share diluted on revenues of $613.1 million for the quarter ended March 31, 2003. In the preceding quarter, net income was $109.8 million, or $0.43 per share diluted, on revenues of $605.5 million. In the comparable quarter a year ago, net income was $120.0 million, or $0.46 per share diluted, on revenues of $626.0 million. Operating income this quarter was approximately the same as in the prior quarter and decreased 6% over the same quarter in the prior year. As of March 31, 2003, assets under management by the company's subsidiaries were $252.4 billion, as compared to $257.7 billion last quarter and $274.5 billion at this time last year. Simple monthly average assets under management during the current quarter were $255.1 billion compared to $254.8 billion in the preceding quarter and $267.9 billion in the same quarter a year ago. Equity assets now comprise 47% of total assets under management as compared to 48% last quarter and 54% at March 31, 2002. Fixed-income assets now comprise 36% of total assets under management, as compared to 34% last quarter and 30% at the same time last year. As of March 31, 2003, balanced/hybrid assets account for 15% of total assets under management, and remained unchanged from last quarter and the comparable quarter a year ago. Sales exceeded redemptions by $2.6 billion for the current quarter compared to $1.1 billion for the prior quarter and $4.5 billion fo...

If you are already a vLex customer, Access Here