Janus Capital Group Under Investigation
From the Associated Press, Oct 29, 2003
Janus Capital Group Inc. reported a $9 million third-quarter charge Wednesday related to investigations into its mutual fund trading but said fewer spooked investors seemed to be pulling money out of funds.
New York Attorney General Eliot Spitzer in September named Janus and three other mutual fund managers as part of an investigation into after-hours and short-term trading, practices that can hurt long-term shareholders. None of the four companies has been charged.
Janus on Wednesday reported net income of $50.9 million, or 22 cents a share. It lost $131.2 million, or 59 cents a share, in the same quarter a year ago, when it took a noncash deferred income-tax charge of $107.8 million and a $59.4 million restructuring charge.
Denver-based Janus said third-quarter revenue was $256.6 million, up 1.5 percent from $252.7 million a year ago.
Through Sept. 30, Janus earned $137 million, or 60 cents per share, on revenue of $733.3 million, compared with $39.7 million, or 17 cents per share, on $880.1 million in revenue a year earlier.