Exhibit 99.1

 

GRAPHIC

 

News Release

 

Waddell & Reed Financial, Inc. Reports Fourth Quarter Results

 

Overland Park, KS, Feb. 4, 2014

— Waddell & Reed Financial, Inc. (NYSE: WDR) today reported fourth quarter net income of $78.8 million, or $0.92 per diluted share, compared to net income of $68.4 million, or $0.80 per diluted share during the previous quarter and net income from continuing operations of $52.4 million, or $0.61 per diluted share during the fourth quarter of 2012.

 

Operating revenues of $375.0 million rose 8% sequentially and 24% compared to the same period last year.  At 30.2%, the operating margin compares favorably to the previous quarter’s 29.8% and 27.5% during the fourth quarter of 2012.  Continued margin expansion is the result of solid revenue growth and careful control of operating costs.

 

Assets under management were $127 billion at quarter-end, rising 11% since September 30 on a combination of strong market action and solid inflows across asset classes and distribution channels.  Sequentially, sales rose 37% and net flows resulted in an organic growth rate of 14%.  Compared to the end of last year, assets under management increased $30 billion, or 31%, of which $8.5 billion were new flows, representing organic growth of 9%.

 

Business Discussion

 

“Fourth quarter and full year results marked a number of new records for our firm,” said Hank Herrmann, Chairman and Chief Executive Officer of Waddell & Reed Financial, Inc.  “Net income, earnings per diluted share, operating revenues and operating income set new highs in 2013.  Sales and advisor productivity were at record levels while net flows were the second highest level ever.  Such successes are a testament to our people, our business model, the strength and effectiveness of our distribution network, and a significant suite of products with strong performance records.”

 

The Wholesale channel captured $6.1 billion of new sales, an 18% increase compared to the previous quarter and a 71% improvement compared to the same period last year.  Net flows of $2.8 billion represent an organic growth rate of 19%, significantly outpacing industry trends.

 

The Advisors channel remains a model of asset stability, maintaining an industry-low redemption rate and growing sales and productivity.  These characteristics provide steady and predictable sources of cash flow.

 

The Institutional channel benefited from a number of new allocations during the quarter resulting in sales of $1.9 billion.  While we do not expect to repeat this record level of business in the first quarter of 2014, the pipeline of opportunities is plentiful.

 

1


The following information was filed by Waddell Reed Financial Inc (WDR) on Tuesday, February 4, 2014 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.

View differences made from one year to another to evaluate Waddell Reed Financial Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Waddell Reed Financial Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account