T. Rowe Price Group Reports Q4 EPS of $.72 vs. $.69

T. Rowe Price Group, Inc. TROW today reported its fourth quarter 2010 results, including net revenues of $647.5 million, net income of $191.6 million, and diluted earnings per common share of $.72, an increase of 26% from the $.57 per share in the comparable 2009 quarter. Net revenues were $542.6 million in the fourth quarter of 2009, and net income was $152.5 million. Assets under management increased $42.3 billion from $439.7 billion at September 30, 2010, to a record $482.0 billion at December 31, 2010, including $282.6 billion in the T. Rowe Price mutual funds distributed in the United States and $199.4 billion in other managed investment portfolios. Net cash inflows in the fourth quarter 2010 totaled $6.9 billion, and market appreciation and income added $35.4 billion to assets under management. As a result, investment advisory revenues increased 21%, or nearly $99 million, from the comparable 2009 quarter.