SEI Investments Company (Nasdaq: SEIC) today announced financial results for second-quarter 2008, reporting decreases in revenues, net income and earnings per share compared to second-quarter 2007.
Net income during the second-quarter was negatively affected by a $27.3 million non-cash pre-tax charge (approximately $.09 per share post-tax). This charge is related to previously disclosed support agreements covering holdings of structured investment products by SEI- sponsored money market funds. This current period charge increases the total accrual for these support agreements to $78.2 million.
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