T. Rowe Price Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Earnings Guidance for the Fiscal Year 2012
January 27, 2012 at 06:00 pm IST
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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.
T. Rowe Price Group, Inc. is an investment management company that provides investment advisory services to individual and institutional investors, retirement plans, and financial intermediaries. The group manages a broad range of American and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.
T. Rowe Price Group also provides investment advisory clients with related administrative services, including mutual fund transfer agent, accounting and shareholder services, participant recordkeeping and transfer agent services for defined contribution retirement plans, discount brokerage, and trust services.
At the end of 2023, the group had USD 1,444.5 billion in assets under management.
T. Rowe Price Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Earnings Guidance for the Fiscal Year 2012