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Franklin Resources reports net income of USD297.7m in Q2

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Franklin Resources’ net income was USD297.7m, or USD1.29 per share diluted, on revenues of USD1,073.6m for the quarter ended 30 June.

Franklin Resources’ net income was USD297.7m, or USD1.29 per share diluted, on revenues of USD1,073.6m for the quarter ended 30 June.

For the quarter ended 31 March 2009, net income was USD110.8m, or USD0.48 per share diluted, on revenues of USD912.3m. For the quarter ended 30 June 2008, net income was USD403.3m, or USD1.71 per share diluted, on revenues of USD1,521.6m.

Operating income for the quarter ended 30 June 2009 was USD326.2m, as compared to USD223.3m for the prior quarter and USD532.2m for the quarter ended 30 June 2008. Other net operating revenues for the quarter ended 30 June 2009 included a USD0.8m decline in the fair value of certain retained interests in securitization transactions, as compared to a decline of USD26.0m for the prior quarter and a gain of USD0.3m for the quarter ended 30 June 2008.

The company’s non-operating income (expenses) for the quarter ended 30 June 2009 included USD52.3m of investment and other income, net, as compared to USD33.9m of losses for the quarter ended 31 March 2009, and USD34.0m of income for the quarter ended 30 June 2008.

Total assets under management by the company’s subsidiaries were USD451.2bn at 30 June 2009, as compared to USD391.1bn at 31 March 2009 and USD580.2bn at 30 June 2008.

Simple monthly average assets under management during the quarter ended 30 June 2009 were USD428.0bn, as compared to USD396.6bn in the prior quarter and USD602.9bn in the same quarter a year ago.

Net new flows for the quarter ended 30 June 2009 were USD6.0bn, as compared to USD(5.5)bn for the prior quarter and USD1.2bn for the same quarter a year ago.

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