Hartford, Connecticut-based Virtus Investment Partners (NYSE:VRTS) today reported fourth-quarter earnings that exceeded Wall Street expectations on an adjusted basis.
The company posted net income of $35.5 million, or $5.17 per share.
When adjusted for non-recurring costs, earnings were $6.50 per share, surpassing the $6.41 average analyst estimate compiled by Zacks Investment Research.
Revenue for the period totaled $208 million, with adjusted revenue of $188.9 million.
For the full year, Virtus reported profit of $138.4 million, or $19.97 per share, on revenue of $774.2 million.
The results reflect continued strength in Virtus’s multi-boutique asset management platform, supported by solid investment performance and client inflows across equity, fixed income, and alternative strategies.