MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Tuesday reported fourth-quarter profit of $44.5 million.
The Milwaukee-based company said it had net income of 76 cents per share. Earnings, adjusted for one-time items, were 75 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The investment management firm posted revenue of $208.4 million in the period.
For the year, the company reported profit of $156.5 million, or $2.65 per share. Revenue was reported as $799 million.
Artisan Partners shares have risen almost 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.56, a rise of 46% in the last 12 months.