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Article: Waddell & Reed Financial, Inc. Reports Fourth Quarter Results.

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PR Newswire
Article date:
January 27, 2009
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OVERLAND PARK, Kan., Jan. 27 /PRNewswire-FirstCall/ -- Waddell & Reed Financial, Inc. today reported financial results for the fourth quarter of 2008, which include significant restructuring, impairment and special charges due to the recent crisis in the financial markets, resulting in a 21% sequential decline in assets under management. Management believes these charges are highly unusual and a direct result of the above mentioned market action.

For the fourth quarter of 2008, the Company reported a net loss of $0.7 million, or ($0.01) per share. Excluding unusual and non-recurring charges, fourth quarter net income would have been $17.4 million, or $0.21 ... 







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