BALTIMORE (AP) _ Legg Mason Inc. (LM) on Monday reported fiscal first-quarter earnings of $49.4 million.

The Baltimore-based company said it had profit of 54 cents per share. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 71 cents per share.

The money manager posted revenue of $666.2 million in the period.

Legg Mason shares have increased 39% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has climbed 31% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LM at https://www.zacks.com/ap/LM

Automated Insights, source Associated Press News