RYE, N.Y.--(BUSINESS WIRE)--GAMCO Investors, Inc. (GAMCO) (NYSE: GBL - News) announced full year results for 2007. Total revenues rose 11.8% to a record $292.4 million for 2007 from $261.5 million in 2006. Fully diluted earnings were a record $2.79 per share versus the restated $2.49 per share in 2006. Net income increased 10.6% to a record $79.6 million from $71.9 million in 2006.The fourth quarter ended December 31, 2007 also had record revenues of $89.0 million, or 7.9% higher than $82.5 million in the fourth quarter of 2006. Operating income before management fee was up 21.9% to $42.5 million from $34.8 million. Net income, exceeded only by the record 2006 fourth quarter, was $24.1 million or $0.84 per fully diluted share versus net income of $27.0 million or $0.94 per fully diluted share in the year ago quarter.
Assets Under Management – Year-end Record $31.0 Billion at December 31st
Assets Under Management (AUM) were $31.0 billion as of December 31, 2007, 10.4% higher than December 31, 2006 AUM of $28.1 billion and 2.0% lower than September 30, 2007 AUM of $31.6 billion.
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