San Mateo, CA, January 24, 2008 - Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today announced net income of $518.3 million, or $2.12 per share diluted, on revenues of $1,685.6 million for the quarter ended December 31, 2007. In the quarter ended September 30, 2007, net income was $436.9 million, or $1.76 per share diluted, on revenues of $1,629.1 million. For the quarter ended December 31, 2006, net income was $426.8 million, or $1.67 per share diluted, on revenues of $1,427.8 million.
Operating income for the quarter ended December 31, 2007 was $635.7 million, as compared to $541.4 million for the prior quarter and $508.1 million for the quarter ended December 31, 2006. The company’s non-operating income for the quarter ended December 31, 2007 included $80.8 million of investment and other income, net, as compared to $86.0 million in the prior quarter and $71.1 million for the quarter ended December 31, 2006.
Total assets under management by the company’s subsidiaries were $643.7 billion at December 31, 2007, as compared to $645.9 billion at September 30, 2007 and $552.9 billion at December 31, 2006. Simple monthly average assets under management during the quarter ended December 31, 2007 were $651.5 billion, as compared to $627.3 billion in the preceding quarter and $533.1 billion in the same quarter a year ago. Equity assets comprised 59% of total assets under management at December 31, 2007, as compared to 60% of total assets under management at September 30, 2007 and December 31, 2006. Fixed-income assets comprised 22% of total assets under management at December 31, 2007, as compared to 21% of total assets under management at September 30, 2007 and December 31, 2006. Hybrid assets accounted for 18% of total assets under management at December 31, 2007, September 30, 2007 and December 31, 2006. Sales exceeded redemptions by $4.9 billion for the quarter ended December 31, 2007, as compared to $9.8 billion for the prior quarter and $10.0 billion for the comparable quarter a year ago.
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