HARTFORD, Conn. (AP) — HARTFORD, Conn. (AP) — Virtus Investment Partners Inc. (VRTS) on Friday reported fourth-quarter net income of $33.3 million.
The Hartford, Connecticut-based company said it had net income of $4.66 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $7.50 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $7.48 per share.
The asset management company posted revenue of $233.5 million in the period. Its adjusted revenue was $212 million.
For the year, the company reported profit of $121.7 million, or $16.89 per share. Revenue was reported as $820.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRTS at https://www.zacks.com/ap/VRTS
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