Actionable news
All posts from Actionable news
Actionable news in BEN: FRANKLIN RESOURCES Inc,

Franklin Resources, Inc. Announces Preliminary Fourth Quarter And Fiscal Year Results San Mateo, CA,

The following excerpt is from the company's SEC filing.

October 22, 2015

- Franklin Resources, Inc. (the “Company”) [NYSE: BEN] today announced preliminary net income

$358.2 million

per diluted share for the quarter ended

September 30, 2015

, as compared to

$504.2 million

per diluted share for the previous quarter and

$640.6 million

September 30, 2014

. Preliminary net income

for the year ended

$2,035.3 million

per diluted share, as compared to

$2,384.3 million

per diluted share for the previous year.

Quarter Ended

% Change

Fiscal Year E nded September 30,



Qtr. vs. Qtr.


Year vs. Year

Financial Results

(in millions, except per share data)

Operating revenues






Operating income



Operating margin

Net income

Diluted earnings per share

Assets Under Management

(in billions)



Net new flows

Total assets under management (“AUM”) were

$770.9 billion

$95.6 billion

during the quarter primarily due to

$61.2 billion

of market depreciation,

$28.6 billion

of net new outflows, and a

$4.6 billion

decrease from foreign exchange revaluation. AUM decreased

$127.1 billion

during the fiscal year primarily due to

$57.9 billion

$48.8 billion

of net new outflows and a

$15.1 billion

decrease from foreign exchange revaluation. The foreign exchange revaluations are related to AUM in products that are not U.S. dollar denominated, which represents approximately

of total AUM, and primarily resulted from fluctuation of the U.S. dollar against the Canadian dollar and Australian dollar for the quarter and fiscal year, as well as the Euro for the fiscal year.

Cash and cash equivalents and investments were

$10.6 billion

$10.0 billion

. Total stockholders’ equity was

$12.5 billion

$12.2 billion

. The Company had

603.5 million

shares of common stock outstanding at

622.9 million

. During the quarter ended

, the Company repurchased

11.9 million

shares of its common stock for a total cost of

$500.3 million

On October 19, 2015, the Board of Directors (“Board of Directors”) of the Company authorized the Company to repurchase, from time to time, up to an aggregate of 30.0 million shares of its common stock in either open market or off-market transactions. The size and timing of these purchases will depend on price, market and business conditions and other factors. The stock repurchase program is not subject to an expiration date. The new Board of Directors authorization is in addition to the existing authorization, of which approximately 7.2 million shares remained available for repurchase at September 30, 2015. Shares repurchased under the stock repurchase program are retired.

Conference Call Information

Pre-recorded audio commentary on the results from Franklin Resources, Inc.’s Chairman and CEO Greg Johnson and CFO and Executive Vice President Ken Lewis will be available today at approximately 8:30 a.m. Eastern Time. They will also lead a live teleconference today at 11:00 a.m. Eastern Time to answer questions of a material nature. Analysts and investors are encouraged to review the Company’s recent filings with the U.S. Securities and Exchange Commission and to contact Investor Relations before the live teleconference for any clarifications or questions related to the earnings release or pre-recorded audio commentary.

Access to the pre-recorded audio commentary and accompanying slides are available at The pre-recorded audio commentary can also be accessed by dialing (877) 523-5612 in the U.S. and Canada or (201) 689-8483 internationally using access code 7055790, any time through November 25, 2015.

Access to the live teleconference will be available at or by dialing (877) 407-8293 in the U.S. and Canada or (201) 689-8349 internationally. A replay of the teleconference can also be accessed by calling (877) 660-6853 in the U.S. and Canada or (201) 612-7415 internationally using access code 13621705, after 2:00 p.m. Eastern Time on

Questions regarding the pre-recorded audio commentary or live teleconference should be directed to Franklin Resources, Inc., Investor Relations at (650) 312-4091 or Media Relations at (650) 312-2245.

Performance Rankings of Franklin Templeton

s U.S.-Registered and Cross-Border Long-Term Mutual Funds

Percentage of Assets in Top Two Peer Group Quartiles

Period ended September 30, 2015





Equity and Hybrid (AUM: $278 billion)

Fixed-Income (AUM: $237 billion)

(AUM: $515 billion)

Performance quoted above represents past performance, which cannot predict or guarantee future results. All investments involve risks, including loss of principal.

Preliminary Condensed Consolidated Statements of Income


(in millions, except per share data and AUM)

Three Months Ended

Twelve Months Ended

Operating Revenues

Investment management fees





Sales and distribution fees



Shareholder servicing fees

Total operating revenues

Operating Expenses