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Rating:Gamco Misses as Revenue Dips Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 05, 2015

Gamco Misses as Revenue Dips

Reported by Neil Anderson, Managing Editor

Mario Gabelli and his team slightly missed expectations last quarter, as revenue and earnings fell year-over-year.

On Tuesday Rye, New York-based Gamco Investors [profile] reported net income per share of $1.13 for the fourth quarter of 2014, down 12.4 percent from Q4 2013 and below expectations by $0.01. Revenue fell year-over-year to $116.751 million in Q4 2014, yet assets under management rose 1 percent year-over-year to $47.487 billion on December 31, 2014. Gamco suffered $1.114 billion in net ouflows in 2014, which the $2.234 billion in market appreciation more than made up for.

For all of 2014, net income per share dipped 5.7 percent to $4.28. Yet revenue rose 10.8 percent to $440.382 million in 2014.

Gamco's open-end equity mutual fund AUM rose 1.3 percent in Q4 2014 alone and 3.5 percent for the year, to $17.684 billion on December 31, 2014. Money fund AUM fell 14.3 percent in Q4 and 16.1 percent for the full year to $1.455 billion. 

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