Manning & Napier (MN) Reports In-Line Q2 EPS, Beats on Revenues

Manning & Napier (NYSE: MN) reported Q2 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $51.5 million versus the consensus estimate of $50.82 million.

• Assets under management ("AUM") at June 30, 2017 was $27.1 billion, compared with $31.6 billion at March 31, 2017.
• Revenue for the second quarter decreased 20% year-over-year and 7% sequentially to $51.5 million
• Second quarter income before taxes was $15.8 million
• Net income attributable to Manning & Napier, Inc. for the second quarter was $1.7 million, or $0.12 per diluted share, and on a non-GAAP basis, economic net income was $9.7 million, or $0.12 per adjusted share
• The Company\'s Board of Directors declared a quarterly dividend of $0.08 per share of Class A common stock at their April 2017 board meeting
• Announced the addition of the Disciplined Value Collective Investment Trust Fund to the Company's suite of more than 25 risk-based, target date (including ETF based portfolios), and asset class collective trust funds; a vehicle that continues to gain traction in the defined contribution market.

For earnings history and earnings-related data on Manning & Napier (MN) click here.

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