Waddell & Reed Financial Q4 Results Climb, Top Estimates - Quick Facts

(RTTNews) - Waddell & Reed Financial, Inc. (WDR), a provider of investment management services, Tuesday reported that fourth-quarter net income was $78.76 million or $0.92 per share, higher than last year's $53.32 million or $0.62 per share.

Operating revenues of $375 million rose 24 percent from $302.88 million a year ago due to higher levels of assets under management. Operating revenues increased 8 percent sequentially.

Analysts polled by Thomson Reuters expected earnings of $0.83 per share on revenues of $370.47 million. Analysts' estimates typically exclude special items.

Operating margin grew to 30.2 percent from 27.5 percent in 2012, the result of solid revenue growth and careful control of operating costs, the company said.

Assets under management were $127 billion at quarter-end, rising 11 percent since September 30. Compared to the end of last year, assets under management increased 31 percent, of which $8.5 billion were new flows, representing organic growth of 9 percent.