Franklin Resources Announces Second Quarter Results

Franklin Resources of San Mateo, Calif., - which provides investment management and shareholder and distribution services to the Franklin Templeton mutual funds and institutional accounts worldwide - reported net income of $102.5 million on revenues of $554.1 million for the quarter ended March 31, 1999. This amounted to $0.41 per share, reduced by restructuring charges, the company said. Had Franklin not taken pretax restructuring charges of $12.3 million in the quarter, diluted per share earnings would have been approximately $0.44.