Invesco Q3 Profit Rises - Quick Facts

(RTTNews) - Invesco Ltd. (IVZ) said that its third-quarter net income attributable to common shareholders increased to $228.1 million from the prior year's $170.6 million, with earnings per share improving to $0.51 from $0.38 last year.

Income from continuing operations, net of income taxes, was $250.1 million, up from $153.7 million in the prior year quarter.

Adjusted earnings per share rose to $0.55 from $0.40 in the prior year.

Previously the company announced that it had entered into a definitive agreement to sell Atlantic Trust to Canadian Imperial Bank of Commerce or CIBC. Atlantic Trust has been classified in the balance sheet as held for sale and is reflected in the income statement as a discontinued operation for all periods presented. A net loss of $1.4 million was recorded in the third quarter attributable to the discontinued operation. During the three months ended September 30, 2013, Atlantic Trust incurred costs of $10.1 million before tax related to the pending transaction, as well as costs related to unauthorized personal transactions of a former employee of Atlantic Trust.

Total assets under management or AUM at September 30, 2013, were $745.5 billion (June 30, 2013: $705.6 billion), an increase of $39.9 billion during the third quarter.

Total operating revenues for the quarter increased to $1.172 billion from last year's $1.014 billion. Adjusted net revenues were $816.4 million, up from $708.2 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share and revenues of $1.17 billion for the quarter. Analysts' estimates typically exclude special items.