Janus reported second-quarter earnings of $47.5 million, or 21 cents a diluted share, a 36% decline from $73.7 million, or 33 cents a diluted share in the second quarter of 2002.

Janus said that despite an increase in its assets, which have risen 13% since the end of March to $149.8 billion at the end of June, its revenues had slipped. Janus took in $250.6 million in revenues during the quarter, a 19% decline from $310.4 million in the second quarter of last year.

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