The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:T. Rowe Beats Earnings Estimates Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 27, 2004

T. Rowe Beats Earnings Estimates

by: Theresa Sim

Citing strong fund sales, T. Rowe Price reported Tuesday that net income for the first quarter of 2004 was $77.3 million, or $0.58 per diluted share, compared to $38.8 million, or $0.31 per diluted share for the same period last year.

The average of analyst estimates of earnings per share was $0.56, according to data from First Call/Thomson.

Assets under management rose to $201 billion at the end of the first quarter, up 6 percent from $190 billion at the quarter ended December 31, 2003, and up 43 percent from $140 billion at the quarter ended March 31, 2003.

Net inflows for the first quarter were $4.7 billion in mutual funds and $1.7 in managed portfolios including separately managed accounts, sub-advised funds, sponsored mutual funds offered to non-U.S. investors, and variable annuity portfolios. The remaining $4.7 billion increase in AUM was due to appreciation.

"We continue to be encouraged by net cash inflows into our mutual funds and managed accounts during the first quarter, including strong net cash flows from our third party distribution efforts. Our target-date Retirement Funds continued to draw interest from investors, and recently topped $1 billion in total assets. During the quarter, the firm also enhanced its lineup of these funds by adding four additional portfolios and implementing a new asset allocation strategy within this group of funds" said George A. Roche, T. Rowe Price's chairman and president. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use