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Previous: FORD MOTOR CREDIT CO, 424B3, 1995-10-27 |
Next: GENERAL ELECTRIC CAPITAL CORP, 424B3, 1995-10-27 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 27, 1995
(October 26, 1995)
......................... FRANKLIN RESOURCES, INC. ....................
(Exact name of registrant as specified in its charter)
.... DELAWARE ................. 1-9318 ....... 13-2670991 ...
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
777 MARINERS ISLAND BLVD., SAN MATEO, CALIFORNIA ........ 94404...
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code..(415) 312-2000
.......................................................................
(Former name or former address, if changed since last report)
Item 5. Other Events
Registrant is filing this Form 8-K in order to file a
current earnings press release. By this filing, Registrant
is not establishing the practice of filing all earnings
press releases in the future and may discontinue such
filings at any time.
Item 7. Financial Statements and Exhibits
(c)Exhibits
Exhibit "A" - Press Release issued on October 26, 1995 by
Franklin Resources, Inc.
FROM: Franklin Resources, Inc.
Tel: (415) 312-4701
Contact: Holly Gibson
Rubenstein Associates
Public Relations - Tel: (212) 843-8078
Contact: Tom Mariam
- ------------------------------------------------------------
For Immediate Release
Franklin Resources Announces Fourth Quarter Results
San Mateo, CA, October 26, 1995 -- Franklin Resources,
Inc. (NYSE:BEN) today reported earnings for the quarter and
fiscal year ended September 30, 1995.
Charles B. Johnson, President of the diversified
financial services company, said net income for the quarter
was $73.6 million compared to $63.7 million a year ago and
$69.0 million for the quarter ended June 30, 1995. Primary
earnings per share for the quarter ended September 30, 1995
were $.89, as compared to $.76 a year ago, and $.84 for the
preceding quarter. Fully diluted earnings per share for the
quarter ended September 30, 1995 were $.88, as compared to
$.76 a year ago, and $.83 for the preceding quarter.
Operating revenues for the quarter ended September 30, 1995
- MORE -
were $235.9 million, as compared to $209.9 million a year
ago, and $224.5 million for the preceding quarter.
Net income for the fiscal year was $268.9 million
compared to $251.3 million for the previous year. Primary
earnings per share were $3.24, as compared to $3.00 a year
ago. Fully diluted earnings per share were $3.20, as
compared to $3.00 a year ago. Operating revenues for the
year were $885.3 million, as compared to $826.9 million a
year ago.
Assets under management by the Company's subsidiaries
rose to $130.8 billion from $118.2 billion this time last
year and $125.9 billion at the end of the preceeding
quarter. Average assets under management during the quarter
were $128.7 billion as compared to $116.3 billion for the
same quarter last year, and $122.8 billion for the preceding
quarter.
Franklin Resources' main business is the $130 billion
Franklin Templeton Group. The Company has its headquarters
at 777 Mariners Island Blvd., San Mateo, CA 94404.
- MORE -
<TABLE>
<CAPTION>
FRANKLIN RESOURCES, INC.
Consolidated Income Statements
(Dollar amounts in thousands
except assets under management
and per share data.)
Three months ended Year ended
September 30 September 30
1995 1994 1995 1994
<S> <C> <C> <C> <C>
Operating revenues:
Investment management fees $196,982 $172,829 $731,252 $647,675
Underwriting commissions, net 6,355 12,348 37,147 96,570
Transfer, trust & related fees 20,491 15,225 68,701 54,613
Banking/finance, real estate & other 12,072 9,474 48,169 28,013
Total operating revenues 235,900 209,876 885,269 826,871
Operating expenses:
General & administrative 113,131 95,317 400,123 360,548
Selling expenses 16,761 18,556 70,111 69,073
Amortization of goodwill 4,540 4,599 18,332 18,311
Banking interest expense 2,510 2,193 10,225 9,356
Total operating expenses 136,942 120,665 498,791 457,288
Operating income 98,958 89,211 386,478 369,583
Other income (expense):
Investment and other income 8,508 5,997 29,673 22,703
Interest expense (6,952) (7,919) (29,496) (29,765)
Other income (expense), net 1,556 (1,922) 177 (7,062)
Income before taxes on income 100,514 87,289 386,655 362,521
Taxes on income 26,942 23,606 117,710 111,213
Net income $73,572 $63,683 $268,945 $251,308
======= ======= ======== ========
Earnings per share:
Primary $.89 $.76 $3.24 $3.00
==== ==== ===== =====
Fully diluted $.88 $.76 $3.20 $3.00
==== ==== ===== =====
Dividends per share $.10 $.08 $0.40 $0.32
==== ==== ===== =====
Primary shares outstanding (in thousands) 82,814 83,500 83,114 83,900
Fully diluted shares outstanding (in thousands) 83,731 83,500 84,031 83,900
Assets Under Management (in millions) $130,837 $118,172 $130,837 $118,172
</TABLE>
- more -
<TABLE>
<CAPTION>
FRANKLIN RESOURCES, INC.
Consolidated Income Statements
(Dollar amounts in thousands
except assets under management
and per share data.)
For the three months ended
30-Sep-95 30-Jun-95 31-Mar-95 31-Dec-94 30-Sep-94
<S> <C> <C> <C> <C> <C>
Operating revenues:
Investment management fees $196,982 $187,114 $172,582 $174,574 $172,829
Underwriting commissions, net 6,355 8,583 9,096 13,113 12,348
Transfer, trust & related fees 20,491 16,747 15,520 15,943 15,225
Banking/finance, real estate & other 12,072 12,039 12,103 11,955 9,474
Total operating revenues 235,900 224,483 209,301 215,585 209,876
Operating expenses:
General & administrative 113,131 102,014 87,487 97,491 95,317
Selling expenses 16,761 15,229 19,886 18,235 18,556
Amortization of goodwill 4,540 4,582 4,640 4,570 4,599
Banking interest expense 2,510 2,618 2,563 2,534 2,193
Total operating expenses 136,942 124,443 114,576 122,830 120,665
Operating income 98,958 100,040 94,725 92,755 89,211
Other income (expense):
Investment and other income 8,508 9,140 5,262 6,763 5,997
Interest expense (6,952) (8,104) (7,353) (7,087) (7,919)
Other income (expense), net 1,556 1,036 (2,091) (324) (1,922)
Income before taxes on income 100,514 101,076 92,634 92,431 87,289
Taxes on income 26,942 32,047 29,594 29,127 23,606
Net income $73,572 $69,029 $63,040 $63,304 $63,683
======= ======= ======= ======= =======
Earnings per share:
Primary $.89 $.84 $.76 $.76 $.76
==== ==== ==== ==== ====
Fully diluted $.88 $.83 $.76 $.76 $.76
==== ==== ==== ==== ====
Dividends per share $.10 $.10 $.10 $.10 $.08
==== ==== ==== ==== ====
Primary shares outstanding
(in thousands) 82,814 82,540 82,710 82,862 83,500
Fully diluted shares outstanding
(in thousands) 83,731 82,980 82,878 82,862 83,500
Assets under management (in millions) $130,837 $125,888 $118,788 $114,646 $118,172
Average assets under management
(in millions) $128,676 $122,769 $116,436 $116,336 $116,297
###
</TABLE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRANKLIN RESOURCES, INC.
(Registrant)
Date: October 27, 1995 /s/ Leslie M. Kratter
LESLIE M. KRATTER
Vice President
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