Eaton Vance profits soar 59%

Eaton Vance Corp.’s fourth-quarter profit soared 59% on strong inflows and higher fees. The Boston-based money manager reported earnings of $61.4 million, or 47 cents per share, in the quarter ended Oct. 31, compared with $38.5 million, or 29 cents per share, in the fourth quarter of 2006. Net inflows in the fourth quarter totaled $2.2 billion, up 5% compared with $2.1 billion in net inflows during the same period in 2006. Eaton Vance said assets under management increased to $161.7 billion at the end of October, compared to $128.9 billion during the year-ago period. Investment advisory and administration fees increased 35% to $212.9 million. But profit for the year fell to $142.8 million, or $1.06 per share, down from $159.4 million, or $1.17 per share during the 2006 fiscal year.