OAKS, Pa., April 23, 2020 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the first-quarter 2020. Diluted earnings per share were $0.72 in first-quarter 2020 compared to $0.73 in first-quarter 2019.

Consolidated Overview

(In thousands, except earnings per share) For the Three Months
Ended March 31,
 
  2020 2019 %
Revenues $414,762 $400,820 3%
Net income 109,242 113,981 (4)%
Diluted earnings per share $0.72 $0.73 (1)%

“The world is coping with a pandemic that continues to cause unimaginable effects to our collective well-being. We thank the healthcare providers who are working to heal and protect us. Our employees’ health and safety have always been, and continue to be, our number one priority. We are incredibly proud of the resilience of our global workforce to transition into a new work environment while maintaining our operational integrity and service levels,” said Alfred P. West, Jr., SEI Chairman and CEO.

“Our workforce and operations remain strong in the face of COVID-19’s impact. Our ability to process a 300-400% increase in transaction activity within some areas of our business demonstrates the true power of our people and technology platforms. While the current market environment will make short-term revenue and profit growth difficult, our strengths shine best, it seems, when challenges are at their highest."

"We have a long-term view and a proven business model that are a strong foundation to help us work through periods of uncertainty. Among our assets are our resilient operations, predictable service delivery, a high-recurring revenue base, strong cash flow, a great client base, and most importantly, a high-quality and innovative workforce. All of these elements have allowed us to not only respond well, but to move forward. Our positive sales results speak to the momentum we are creating, while we make necessary adjustments to maintain sales through this crisis.”

“Despite the current market challenges, we continue to look toward the future. Our solutions will provide growth opportunities that will lead to increased shareholder value.”

Please read the full press release.