Calamos Beats the Street
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Friday, August 06, 2010

Calamos Beats the Street

Calamos Asset Management, Inc. [see profile] yesterday reported second-quarter earnings of $4.7 million, or 23 cents a share, compared with $1.8 million, or 9 cents a share, in the year-ago period. Analysts had expected the company to post earnings of 15 cents a share, on revenue of $77.8 million, according to Thomson Reuters.

Total AUM at the Naperville, Illinois-based firm was $29.9 billion, representing a decrease of $3 billion, or percent, from the previous quarter end. The decrease consisted of $2.3 billion in market depreciation and net redemptions of $700 million. The firm's mutual fund AUM stood at $23 billion as of the end of June, compared to $20 billion during the same period last year.

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