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Franklin Resources sees outflows of $24.6B in fiscal Q2

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Franklin Resources sees outflows of $24.6B in fiscal Q2

reported netincome attributable to the company of $360.4 million, or 61 cents per share, forthe fiscal second quarter ended March 31, down from $606.5 million, or 98 centsper share, compared with the prior-year quarter.

The S&PCapital IQ consensus GAAP EPS estimate for the quarter was 64 cents.

Operatingrevenues for the quarter totaled $1.61 billion, down year over year from $2.01 billion.Total operating expenses were $1.08 billion, compared with $1.25 billion in theprevious year's fiscal second quarter.

TotalAUM was $742.6 billion at March 31, compared with $763.9 at Dec. 31, 2015 and $880.6billion at March 31, 2015. Net new outflows for the quarter were $24.6 billion,which were partially offset by $4.2 billion of market appreciation, which primarilyconsists of a $4.6 billion increase from foreign exchange revaluation.

During the quarter, Franklin Resources repurchased 9.6 million of its commonshares for a total cost of $337.3 million.