DST Systems reported second quarter profits of $48.7 million, a 2% dip from the $49.9 million it earned in the second quarter of 2008.

Revenues decreased 5.2% to $404.5 million, primarily due to a $13.6 million decline in output solutions and a $6.8 million decline in financial services. DST said this was due to decreased demand for items mailed, images produced and data processing support. However, total mutual fund shareholder accounts serviced increase 1.3%, or 1.5 million accounts, to a total of 118.9 million accounts.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.