Janus Income Falls 85% in 4Q

Janus reported fourth-quarter net income of $7.8 million, or $0.05 per diluted share, down 85% from $51.6 million net income, or $0.30 per diluted share, in the fourth quarter of 2007. For the full year, net income was $138.4 million, or $0.86 per diluted share, down 28% from $192 million, or $1.07 per diluted share, for 2007.

Assets during the entire year fell 40% from $206.7 billion at the start to $123.5 billion by Dec. 31. Janus attributed most of the decline in assets, $77.6 billion, or approximately 93% of the $83.2 billion total, to market depreciation. The remaining $5.6 billion was due to net redemptions throughout the year.