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Legg Mason profit up, with first net inflow since 2007

Friday, 26 Oct 2012 | 11:15 AM ET

Oct 26 (Reuters) - Asset manager Legg Mason Inc said on Friday that quarterly profit rose 42 percent as it reported the first quarterly net inflow since 2007.

For the second quarter ended Sept. 30, Baltimore-based Legg Mason on Friday reported net income of $80.8 million, or 60 cents per share, compared with 56.7 million, or 39 cents per share, in the same period a year earlier.

Analysts, on average, expected earnings of 55 cents per share, according to a survey by Thomson Reuters I/B/E/S.

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