Calamos Asset Management reported fourth-quarter 2010 net income late Thursday of $5.8 million, or $0.28 cents a share, vs. $4.7 million, or $0.23 cents a year ago. Revenues for the period were $86.0 million compared with $81.3 million in the fourth quarter of 2009.
Equity analysts had expected Calamos to earn $0.25 a share on sales of $84.9 million.
On Friday, the company's shares were up about 2.7% to trade near $16.6.
About 22% Calamos' shares trade publically, while the remaining ownership is attributed to the Calamos principals, the company says.
"The company saw an increase in assets under management throughout the quarter and generated positive relative investment performance, particularly in growth equities in the global, international and emerging market areas. We continue to execute our active, risk-managed approach to investing, which we believe provides long-term value to our clients," said John P. Calamos, Sr., chief executive officer and co-chief investment officer, in a press release.
AUM, Flows
As of December 31, 2010, assets under management totaled $35.4 billion, representing an increase of $2.8 billion, or 9%, from the previous quarter end.
