Janus Posts Strong Second Quarter

Janus Capital reported a significant second quarter jump in income to $130.2 million from $47.5 million during the same quarter in 2003, according to a recent filing.
Janus' balance sheet this quarter was buoyed by the sale of Janus' last remaining 9% stake in DST Systems. Stronger earnings this quarter reflect an effort by Janus to claw its way back from the one-two punch of heavy bets in the beleaguered technology sector and massive investor defections following charges of misconduct by New York Attorney General Eliot Spitzer and the Securities and Exchange Commission.
Operating income from the investment management division rose to $79.4 million from 79.6 million during the same period last year. Newly seated Janus Chairman Steve Scheid attributed the stronger earnings to competitive fund performance, administrative changes and finalizing settlements with regulators.
In addition, he noted that research firms like Morningstar have bestowed new confidence on Janus, which hopes to maintain the upward momentum this fall with a new advertising campaign. "We're putting additional emphasis on building our institutional and broker-dealer businesses and offering new products to investors who work with financial advisers. We're also investing in our brand by introducing a new ad campaign this fall."