UPDATE: Legg Mason Q1 Net Profit Up 10%

Legg Mason Inc LM reported a 10% rise in its fourth-quarter earnings. Legg Mason's quarterly net income climbed to $76.1 million, or $0.54 per share, from $69 million, or $0.45 per share, in the year-ago period. Analysts were expecting earnings of $0.47 per share. Legg Mason shares closed at $26.07 yesterday.