OVERLAND PARK, Kan. (AP) _ Waddell & Reed Financial Inc. (WDR) on Tuesday reported a fourth-quarter loss of $6.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Overland Park, Kansas-based company said it had a loss of 11 cents. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The investment adviser and mutual fund company posted revenue of $278.1 million in the period.

For the year, the company reported profit of $70.5 million, or $1.08 per share. Revenue was reported as $1.05 billion.

Waddell & Reed shares have dropped nearly 1% since the beginning of the year. The stock has risen 54% in the last 12 months.

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