HARTFORD, Conn. (AP) 鈥� HARTFORD, Conn. (AP) 鈥� Virtus Investment Partners Inc. (VRTS) on Friday reported first-quarter earnings of $7.1 million.
The Hartford, Connecticut-based company said it had net income of $1.05 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $5.38 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $5.56 per share.
The asset management company posted revenue of $199.5 million in the period. Its adjusted revenue was $182.3 million.
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