As it set aside more money for an anticipated settlement over its mutual fund trading practices,
Net income for the firm fell to $37.8 million, or 36 cents per share, from $50.6 million, or 47 cents per share, in the second quarter of 2004.
According to the report, the results included a pretax charge of $6.6 million, including an increase of $5 million to the estimated cost of a settlement the firm expects to reach with government agencies over its trading practices.