Janus Capital Group Inc. announced Thursday its quarterly profit fell due to a charge taken for discontinued operations.
Net income in the quarter fell 21.2%, to $29.7 million, or 17 cents a share, from a year earlier. The average estimate from analysts surveyed by Thomson Financial Inc. was for 32 cents per share.
The Denver money manager took a charge of $31.9 for its printing business, which the company is selling. It announced in October it would sell the business and expected the deal to close early this year. The charge trimmed Janus' earnings by 18 cents a share.
Janus reported its income from continuing operations was $61.6 million, or 36 cents a share, including an after-tax benefit of 3 cents a share for several operating and nonoperating items.
Revenue rose 9.5%, to $311.5 million, topping the average analyst estimate of $303.1 million.
