Manning & Napier (MN) Misses Q1 EPS by 1c, Miss on Revenues

Manning & Napier (NYSE: MN) reported Q1 EPS of $0.07, $0.01 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $42.22 million versus the consensus estimate of $43.12 million.

Summary Highlights

• Assets under management ("AUM") at March 31, 2018 were $23.4 billion, compared with $25.1 billion at December 31, 2017
• Revenue for the first quarter decreased 24% year-over-year and 8% sequentially to $42.2 million
• First quarter income before taxes was $7.8 million; the net income attributable to Manning & Napier, Inc. for the first quarter was $1.2 million, or $0.07 per diluted share
• On a non-GAAP basis, economic net income for the quarter was $5.6 million, or $0.07 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 March 2018 board meeting
• Announced relationship with Fi360 to integrate their fiduciary tool into two of Manning & Napier\'s ETF-based portfolio strategies

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

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