Eaton Vance's Q4 Earnings Up 59 Percent
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Tuesday, November 20, 2007

Eaton Vance's Q4 Earnings Up 59 Percent

Eaton Vance reported a 59-percent increase in net income for the fourth quarter. In the period ended October 31, net income increased to $61.4 million, or 47 cents per diluted share, compared to $38.5 million, or 29 cents per diluted share. Executives at the Boston-based asset management firm said the fourth quarter earnings were reduced by 5 cents per diluted share due to costs related to the reorganization of Eaton Vance Distributors and a loss realized in connection with the firm's issuance of ten-year senior notes in September.

Not counting special items, the company's net profit for the period increased to 52 cents per diluted share, beating analyst estimates of 49 cents, according to Reuters Estimates.

Assets under management rose 25 percent to $161.7 billion at the end of October.

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