Franklin Resources Inc.
on Thursday reported a second-quarter net income of $196.5 million, down 11 percent from $221.3 million a year ago.
The San Mateo, California-based firm said it took a charge of $111.6 million to repatriate foreign earnings and a $68.4 million charge in connection with the reorganization of one of its subsidiaries, Fiduciary Trust Company International
Revenues for the quarter expanded by 19 percent to $125 billion from $1.05 billion in the year-ago period.
Assets under management totaled $491.6 billion, up from $464.8 billion at the close of 2005 and $412.1 billion at the end of the second quarter last year.
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