Legg Mason reported earnings of $50.1 million, or 35 cents a share, for the quarter ended June 30, its first fiscal quarter for 2010, compared with a loss of $36.1 million, or 26 cents a share, in the comparable period of 2008. The company handily beat the consensus of earnings of 21 cents a share.

Still, Legg Mason Chairman and CEO Mark Fetting said the firm would continue to try to improve profits. “Progress [has been] achieved, but even more value [is] being pursued,” he said.

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