Manning & Napier Inc. on Wednesday reported quarterly economic net income of $26.7 million, up 9.3 percent from a year ago, and an increase in revenue of nearly 11 percent.
The Perinton-based money management firm released its earnings report after the market closed.
The most recent quarter compares to economic net income of $24.4 million in the third quarter of 2012.
Earnings per adjusted share of 30 cents matched Wall Street estimates and were up 3 cents from a year ago.
Revenues in the third quarter totaled $94.6 million, up 10.9 percent from $85.4 million in the third quarter of 2012 and 1.8 percent from nearly $93.0 million in the second quarter of this year.
Using generally accepted accounting principles, Manning & Napier reported quarterly net income of $22.8 million attributable to the controlling and non-controlling interests, up from $21.1 million in the third quarter of 2012.
Net income available to Class A common stockholders was 10 cents per basic and diluted share, compared with 12 cents a year ago.
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