Franklin Resources Inc. on Thursday reported a second-quarter net income of $196.5 million, down 11 percent from $221.3 million a year ago.

The San Mateo, California-based firm said it took a charge of $111.6 million to repatriate foreign earnings and a $68.4 million charge in connection with the reorganization of one of its subsidiaries, Fiduciary Trust Company International.

Revenues for the quarter expanded by 19 percent to $125 billion from $1.05 billion in the year-ago period.

Assets under management totaled $491.6 billion, up from $464.8 billion at the close of 2005 and $412.1 billion at the end of the second quarter last year. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE