Gamco earnings drop along with market
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- August
- 6
Earnings at Gamco Investors Inc., the mutual fund company run by money manager Mario Gabelli, dropped nearly 20 percent to $14.46 million, or 51 cents a share, during the second quarter.
Assets under management — which is the investor money the company manages — were $28.3 billion at the end of the quarter. That was 7.5 percent lower than a year earlier and 1.3 percent lower than at the end of the first quarter, as the decline in the stock market took its toll.
In last year’s March-to-June period, Gamco earned $18 million, or 63 cents.
This entry was posted
on Wednesday, August 6th, 2008 at 3:34 pm by Allan Drury.
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