Consolidated net income for DST Systems, Inc. (NYSE: DST) was $70.6 million ($1.43 per diluted share) for fourth quarter 2008 compared to $63.7 million ($0.92 per diluted share) for fourth quarter 2007.
Consolidated net income for the year ended 31 December 2008 was $242.9 million ($4.28 per diluted share) compared to $874.7 million ($12.35 per diluted share) for the year ended 31 December 2007.
Taking into account certain non-GAAP adjustments, consolidated net income was $51.6 million ($1.04 per diluted share) for fourth quarter 2008 compared to $67.7 million ($0.98 per diluted share) for fourth quarter 2007, and $213.7 million ($3.77 per diluted share) for the year ended 31 December 2008 compared to $250.5 million ($3.53 per diluted share) for the year ended 31 December 2007.
Consolidated operating revenues decreased $28.6 million or 6.6% to $403.9 million as compared to fourth quarter 2007 attributable to a $20.8 million decline in Financial Services and an $8.1 million decline in Output Solutions.
Total mutual fund shareowner accounts serviced at 31 December 2008 decreased 1.8 million accounts or 1.5% from 30 September 2008 to 120.1 million accounts.
Equity in earnings of unconsolidated affiliates decreased $4.5 million as compared to fourth quarter 2007 mostly attributable to lower equity in earnings of BFDS which experienced lower investment earnings on cash balances maintained on behalf of customers and lower operating revenues attributable to a reduced level of shareowner accounts serviced.
L.D.