Exhibit 99.1

 

GRAPHIC

 

News Release

 

Waddell & Reed Financial, Inc. Reports Fourth Quarter Results

 

Overland Park, KS, Jan. 31, 2012

— Waddell & Reed Financial, Inc. (NYSE: WDR) today reported fourth quarter net income of $40.0 million, or $0.47 per diluted share, compared to net income of $39.8 million, or $0.46 per diluted share, during the third quarter and net income of $46.4 million, or $0.54 per diluted share, during the same period last year.

 

Despite the many challenges of 2011, year-over-year results improved on numerous fronts.  Net income of $175 million, or $2.05 per diluted share, grew 12% compared to the year ended December 31, 2010.  Our operating margin expanded to 24.4% compared to 24.0% in 2010.

 

Annual sales were $23.8 billion, a 10% improvement compared to 2010, while inflows of $5.0 billion compare to inflows of $5.4 billion last year.

 

Sales during the fourth quarter were $5.0 billion, approximately $1.4 billion lower than the third quarter’s and $600 million less than last year’s fourth quarter.  Net flows were $42 million compared to $1.3 billion during the previous quarter and $1.2 billion during the same period last year.  While flows were disappointing, our results still outpaced the industry, which saw meaningful outflows through most of this year.

 

Business Discussion

 

Management commentary

 

“Volatility and risk aversion characterized most of 2011.  The rally during this past quarter did little to improve equity appetite, as evidenced by continued industry outflows,” said Hank Herrmann, Chairman and Chief Executive Officer of Waddell & Reed Financial, Inc.  “These overarching challenges were an opportunity for us to showcase the strength of our fixed income products.  Over time, asset classes move in and out of favor.  Waddell & Reed’s wide breadth of products, with solid investment performance records, provides us an opportunity to participate in many environments, a claim few of our competitors can make.”

 

1


The following information was filed by Waddell Reed Financial Inc (WDR) on Tuesday, January 31, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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