SEI Investments Q4 profit declines 29%
SEI Investments Company has reported a net income of $44.4m, or $0.25 diluted earnings per share, for the fourth quarter of 2011, compared to $62.4m, or $0.33 diluted earnings per share, for the same period in 2010.
Revenues dropped 2% to $226.24m for the fourth quarter of 2011, compared to $231.39m for the same period a year ago due to lower information processing fees due to a decline in one-time revenues.
For the full year of 2011, SEI posted a net income of $204.95m, or $1.11 diluted earnings per share, for the fourth quarter of 2011, compared to $231.68m, or $1.22 diluted earnings per share, for the same period in 2010.
SEI chairman and CEO Alfred West said that while the headwinds created by third-quarter 2011 market performance had a dampening effect on fourth-quarter results, they continued to make progress in their business development initiatives that will drive long-term growth.
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