Calamos Asset Management witnessed second quarter profits dip six percent to $1.79 million from the $1.89 million mark set a year-ago, despite a major slump in revenue.

The Naperville,Illinois-domiciled company generated $67 million in revenues during the quarter, down 40 percent from $112 million in the year-ago period.

The company also said its mutual funds division handled $20 billion in AUM, down from the $30.6 billion recorded during second quarter of 2008.

Calamos also reported $27 billion in total AUM as of end-June. Average total AUM was $25.9 billion during Q2 of 2009, down from $42.9 billion from a year-ago. 

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