T. Rowe Price Group, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, net revenues were $671.6 million against $647.5 million for the same period a year ago. Net operating income was $293.6 million against $282.8 million for the same period a year ago. Income before income taxes was $306.5 million against $298.2 million for the same period a year ago. Net income was $188.4 million against $191.6 million for the same period a year ago. Diluted net income per share was $0.73 against $0.72 for the same period a year ago. Net income allocated to common stockholders was $187.5 million against $190.8 million for the same period a year ago. For the full year, net revenues were $2,747.1 million against $2,367.2 million for the same period a year ago. Net operating income was $1,226.9 million against $1,036.5 million for the same period a year ago. Income before income taxes was $1,250.6 million against $1,070.0 million for the same period a year ago. Net income was $773.2 million against $672.2 million for the same period a year ago. Diluted net income per share was $2.92 against $2.53 for the same period a year ago. Net income allocated to common stockholders was $769.7 million against $669.4 million for the same period a year ago. Cash provided by operating activities, including $98.7 million of stock-based compensation in 2011 was $948.4 million against $732.8 million for the same period a year ago. Additions to property and equipment were $82.3 million. The firm currently estimates its effective rate for 2012 will be about 37.7%. The firm is planning 2012 capital expenditures of about $100 million for property and equipment additions, which it expects to fund with operating resources.