To: Harry N who wrote (16190 ) 5/5/1999 6:18:00 PM From: Patherzen Read Replies (1) | Respond to of 27722
More from the Ghost- LeggMason hot underwriter... LEGG MASON - BEST Qtr & Yr in 100 YR's by: ghost_bucks 51779 of 51795 Just posted today. Looks like Navarre/NetRadio is hooked up to a hot underwriter partner. --------EXCERPT------------ BALTIMORE, May 5 (Reuters) - Regional brokerage Legg Mason Inc. (LM - news) on Wednesday posted the best quarterly and annual results in its 100-year history, helped by more fees from managing client money. The firm, which operates primarily on the East Coast, earned $26.7 million, or 45 cents a share, in the fourth quarter ended March 31. The results were up 13 percent from a $23.5 million profit, or 40 cents a share, in the year-ago period and beat Wall Street expectations of 43 cents a share. Net revenues rose to $265.2 million, up 18 percent from $224.6 million a year ago. Legg Mason's profits were powered by a 31 percent jump in fees from managing client money to $111.1 million in the quarter, from $85.0 million in the year-ago period. The firm's assets under management rose to $89 billion, up 25 percent from a year ago and up 8.5 percent from the third quarter. ''Across the board we have had really good asset flow and that's because virtually every manager we have has had good performance,'' said the firm's chief executive, Raymond ''Chip'' Mason, in a telephone interview. Legg Mason could hit the $100 billion mark in assets under management later this year, two years earlier than planned, Mason said. ---------END OF EXCERPT---------------- Here's the link to the whole story;biz.yahoo.com Very busy week for me - will check in when I can. I found out a little something about the Vcall - will confirm & post it shortly. Good luck to all Ghost