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)... January 24, 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) 312-3000
..................................................................
(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 January 24, 1995 by
Franklin Resources, Inc.
EXHIBIT "A"
FROM: Franklin Resources, Inc.
Tel: (415) 312-4701
Contact: Holly Gibson
Howard J. Rubenstein Associates, Inc.
Public Relations - Tel: (212) 843-8053
Contact: David Sternstein
FOR IMMEDIATE RELEASE
Franklin Resources Posts First Quarter Results
SAN MATEO, CA, January 24, 1995 Franklin Resources,
Inc. (NYSE:BEN) today reported earnings for the first quarter
ended December 31, 1994.
Charles B. Johnson, president of the diversified
financial services company, said net income for the quarter
increased to $63.3 million from $59.0 million, or to $0.76 per
fully diluted share from $0.70 a year ago, a per share increase
of 8.6 percent. Operating revenues for the period increased to
$215.6 million from $198.5 million, an increase of 8.6 percent.
Average shares outstanding for the quarter were 82,862,476
compared to 83,991,808 a year ago. Assets under management by
the company's subsidiaries were $114.6 billion compared to $114.2
billion this time last year.
Franklin Resources' main business is the $114 billion
Franklin Templeton Group. The Company has its headquarters at
777 Mariners Island Blvd., San Mateo, CA. 94404.
FRANKLIN RESOURCES, INC.
Consolidated Income Statements
Unaudited (dollar amounts in thousands, except per share data)
For the Three Months
Ended December 31
1994 1993
Operating revenues:
Investment management fees $174,574 $151,888
Underwriting commissions, net 13,113 29,569
Transfer, trust & related fees 15,943 11,961
Banking/finance, real estate & other 11,955 5,070
Total operating revenues 215,585 198,488
Operating expenses:
General & administrative 97,491 84,457
Selling expenses 18,235 15,662
Amortization of goodwill 4,570 4,542
Banking interest expense 2,534 2,356
Total operating expenses 122,830 107,017
Operating income 92,755 91,471
Other income (expenses):
Investment and other income 6,763 5,719
Interest expense (7,087) (8,055)
Other income (expenses), net (324) (2,336)
Income before taxes on income 92,431 89,135
Taxes on income 29,127 30,134
Net income $63,304 $59,001
Earnings per share:
Primary $.76 $.70
Fully diluted $.76 $.70
Dividends per share $.10 $.08
Weighted Average Primary 82,862 83,992
Shares Outstanding
Weighted Average Fully 82,862 83,992
Diluted Shares Outstanding
Net Assets Under Management (in millions)
Franklin Templeton Group $114,646 $114,172
# # #
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: January 25, 1995 /s/ Leslie M. Kratter
Leslie M. Kratter, Vice President
