GAMCO Investors Q2 Profit Rises - Quick Facts

(RTTNews) - GAMCO Investors, Inc. (GBL) reported second-quarter net income to company of $27.9 million or $1.09 per share, compared to $15.1 million or $0.57 per share, in the second quarter of 2012. Operating income was $21.18 million or $0.83 per share for the quarter.

Revenues were $92.3 million, compared to $81.0 million, last year. The company said its revenues were generally driven by growth in average AUM in open- and closed-end funds, higher billable assets in the institutional and private wealth management accounts and an increase in incentive fees earned. Assets Under Management rose to a record $40.5 billion, up 13.5% from $35.7 billion at June 30, 2012.

Second quarter net inflows were $240 million, market appreciation totaled $293 million and Fund distributions were $145 million.