Janus Capital Group Inc. reported a higher third-quarter profit from continuing operations Thursday, as assets under management grew, but a one-time charge cut its net income.
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The profit from continuing operations was up 55.8% in the quarter, to $50.8 million, or 29 cents a share, from a year earlier. The average of analysts' earnings estimates was 27 cents, according to Thomson Financial.
Janus said it is selling its printing business, and it took a $38.6 million loss, which reduced net income by that amount. Net income, as a result, fell to $12.2 million, or 7 cents a share, from $29.5 million, or 15 cents, the year earlier. Its assets under management rose 31.4%, to $208 billion, the Denver fund company said.
