Waddell & Reed reported that it returned to profitability in the second quarter of this year, taking in $29.7 million, or 36 cents per share, in earnings, the Associated Press reports. In the second quarter of 2006, the company lost $33 million, or 40 cents per share.

This year’s second-quarter profits fell a penny short of the 37 cents a share analyst consensus, as polled by Thomson Financial.

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