SEI Reports First-Quarter 2013 Financial Results OAKS,

OAKS, PA--(Marketwired - Apr 24, 2013) - SEI Investments Company ( NASDAQ : SEIC ) today announced financial results for first-quarter 2013. Diluted earnings per share were $.41 in first-quarter 2013 compared to $.28 in first-quarter 2012. First-quarter 2013 includes a gain of $.08 diluted earnings per share from the sale of SEI Asset Korea, of which SEI owned approximately 56.1 percent. 

Consolidated Overview		For the Three Months
(In thousands, except earnings per share)		Ended March 31,
		2013			2012			%
Revenues		$	271,879		$	237,898		14	%
Net Income attributable to SEI			71,920			49,965		44	%
Diluted Earnings Per Share		$	0.41		$	0.28		46	%

"The first quarter of 2013 continued the progress we made during 2012 across all of our businesses. A combination of new client implementations, improved financial markets, and positive sales activity contributed to our operating results during the quarter," said Alfred P. West, Jr., SEI Chairman and CEO.

"Our results so far this year have been encouraging. SEI will continue to execute against our long-term strategy, including a focus on new client acquisition and development of the products and services necessary for long-term success. As always, we are committed to enhancing shareholder value."

Summary of First-Quarter Results by Business Segment

(In thousands)			For the Three Months
			Ended March 31,
			2013				2012				%
Private Banks:
Revenues			$	98,746			$	87,988			12	%
Expenses				96,298				87,517			10	%
Operating Profit			$	2,448			$	471			420	%
	Gain on sale of subsidiary			22,112				--			N/M
Total Profit			$	24,560			$	471			N/M
	Operating Margin (A)			2	%			1	%
Investment Advisors:
Revenues				55,191				49,468			12	%
Expenses				31,625				29,301			8	%
Operating Profit				23,566				20,167			17	%
Operating Margin				43	%			41	%
Institutional Investors:
Revenues				63,162				53,317			18	%
Expenses				31,509				28,100			12	%
Operating Profit				31,653				25,217			26	%
Operating Margin				50	%			47	%
Investment Managers:
Revenues				53,820				46,211			16	%
Expenses				35,162				30,426			16	%
Operating Profit				18,658				15,785			18	%
Operating Margin				35	%			34	%
Investments in New Businesses:
Revenues				960				914			5	%
Expenses				3,738				3,698			1	%
Operating Loss				(2,778	)			(2,784	)		--

(A) Percentage determined exclusive of gain on sale of subsidiary.

First-Quarter Business Commentary:

• Revenues increased in first-quarter 2013 as compared to both first-quarter 2012 and fourth-quarter 2012. Gains were realized in all core business segments and all major product lines, including Asset management, administration, and distribution fees and Information processing and software servicing fees.
• Net income attributable to SEI increased in first-quarter 2013 as compared to both first-quarter 2012 and fourth-quarter 2012. This was driven by the increase in first-quarter 2013 revenues when compared to both periods. Additionally, the previously disclosed sale of SEI Asset Korea was completed on March 28, 2013 resulting in a gain of $22.1 million, or $.08 diluted earnings per share.
• Our average assets under management, excluding LSV, increased $20.9 billion, or 17 percent, to $145.0 billion in the first-quarter 2013, as compared to $124.1 billion during the first-quarter 2012, and increased $6.5 billion, or five percent, as compared to $138.5 billion during the fourth-quarter 2012. Ending asset balances for the first-quarter 2013 do not include assets related to SEI Asset Korea (see attached Ending and Average Asset Balances schedules for further details). 
• Sales events, net of client losses, during first-quarter 2013 totaled approximately $19.6 million and are expected to generate net annualized recurring revenues of approximately $16.8 million when contract values are fully realized.
• Income from LSV increased in first-quarter 2013 to $27.8 million as compared to $27.3 million in first-quarter 2012 due to an increase in assets under management. Our ownership interest in LSV was approximately 39.8 percent in first-quarter 2013 and 41.2 percent in first-quarter 2012.
• The effective tax rates were 34.9 percent in first-quarter 2013 and 37.2 percent in first-quarter 2012 and 35.0 percent in fourth-quarter 2012. The first-quarter 2013 tax rate was benefited by the reinstatement of the research and development tax credit partially offset by additional foreign taxes caused by the sale of SEI Asset Korea. The increase in the tax rate in the first-quarter 2012 was due to the expiration of the research and development tax credits. The fourth-quarter 2012 tax rate was benefited by state tax planning.
• In first-quarter 2013, we repurchased 1.3 million shares of our common stock for $36.2 million.

Earnings Conference Call A conference call to review earnings is scheduled for 2:00 PM ET on April 24, 2013. Investors may listen to the call at www.seic.com/investors or listen at www.earnings.com , a service of Thomson Streetevents. The call may also be accessed at numerous financial services web sites including AOL and Yahoo. Investors may also listen to replays at these web sites, or by telephone at (USA) 1-800-475-6701; (International) 320-365-3844, access code 291281.

About SEI SEI ( NASDAQ : SEIC ) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $495 billion in mutual fund and pooled or separately managed assets, including $206 billion in assets under management and $289 billion in client assets under administration. For more information, visit www.seic.com .

Many of the statements in this release may be considered "forward looking statements" and include discussions about future operations, strategies and financial results. Forward-looking statements are based upon estimates and assumptions that involve risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe our assumptions are reasonable, they could be inaccurate. Our actual future revenues and income could differ materially from our expected results. We have no obligation to publicly update or revise any forward-looking statements.

SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
		For the Three Months Ended March 31,
		2013				2012
Asset management, admin. and distribution fees		$	198,633			$	172,954
Information processing and software servicing fees			64,532				56,200
Transaction-based and trade execution fees			8,714				8,744
Total revenues			271,879				237,898
Subadvisory, distribution and other asset mgmt costs			27,934				28,003
Software royalties and other information processing costs			7,487				6,941
Brokerage commissions			6,512				6,307
Compensation, benefits and other personnel			88,610				78,543
Stock-based compensation			5,293				4,033
Consulting, outsourcing and professional fees			31,849				26,955
Data processing and computer related			12,058				11,465
Facilities, supplies and other costs			18,148				14,508
Amortization			8,242				7,622
Depreciation			5,704				5,432
Total expenses			211,837				189,809
Income from operations			60,042				48,089
Net gain on investments			280				3,205
Interest and dividend income			1,053				1,487
Interest expense			(113	)			(161	)
Equity in earnings of unconsolidated affiliates			27,588				27,330
Gain on sale of subsidiary			22,112				--
Net income before income taxes			110,962				79,950
Income taxes			38,692				29,715
Net income			72,270				50,235
Less: Net income attributable to the noncontrolling interest			(350	)			(270	)
Net income attributable to SEI		$	71,920			$	49,965
Diluted earnings per common share		$	0.41			$	0.28
Shares used to calculate diluted earnings per share			176,005				177,668
Basic earnings per common share		$	0.42			$	0.28
Shares used to calculate basic earnings per share			172,598				176,348

SEI INVESTMENTS COMPANY
CONDENSED BALANCE SHEETS
(In thousands)
(Unaudited)
		March 31,			December 31,
		2013			2012
Assets
Cash and short-term investments		$	452,099		$	452,247
Restricted cash			5,500			6,000
Receivables, net			247,137			202,818
Securities owned			21,107			20,088
Other current assets			21,705			20,251
Total current assets			747,548			701,404
Property and equipment, net			123,153			127,581
Marketable securities			78,148			81,778
Capitalized software, net			305,352			307,490
Investment in unconsolidated affiliates			77,165			77,398
Other assets, net			11,244			14,173
Total assets		$	1,342,610		$	1,309,824
Liabilities
Current liabilities		$	148,727		$	152,005
Deferred income taxes			85,386			93,458
Other Long-term liabilities			7,400			7,032
Total SEI Investments Company shareholders' equity			1,101,097			1,038,180
Noncontrolling interest			--			19,149
Total Equity			1,101,097			1,057,329
Total liabilities and equity		$	1,342,610		$	1,309,824

SEI INVESTMENTS COMPANY
ENDING ASSET BALANCES
(In millions)
(Unaudited)
			Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,			Mar. 31,
			2012			2012			2012			2012			2013
Private Banks:
Equity/Fixed Income prgms.			$	17,180		$	16,848		$	17,960		$	18,862		$	12,446
Collective Trust Fund prgms.				435			335			147			11			9
Liquidity funds				5,549			5,063			5,342			6,008			5,143
Total assets under mgmnt.			$	23,164		$	22,246		$	23,449		$	24,881		$	17,598
Client assets under admin.				10,916			10,719			11,611			12,178			12,970
Total assets			$	34,080		$	32,965		$	35,060		$	37,059		$	30,568
Investment Advisors:
	Equity/Fixed Income prgms.		$	29,722		$	29,153		$	30,864		$	31,220		$	34,166
	Collective Trust Fund prgms.			1,199			705			370			14			15
	Liquidity funds			1,643			1,880			1,868			2,514			2,094
	Total assets under mgmnt.		$	32,564		$	31,738		$	33,102		$	33,748		$	36,275
Institutional Investors:
	Equity/Fixed Income prgms.		$	54,537		$	55,548		$	59,852		$	62,160		$	64,214
	Collective Trust Fund prgms.			424			415			153			102			101
	Liquidity funds			3,725			2,958			3,272			2,454			2,810
	Total assets under mgmnt.		$	58,686		$	58,921		$	63,277		$	64,716		$	67,125
Investment Managers:
	Equity/Fixed Income prgms.		$	62		$	61		$	65		$	67		$	73
	Collective Trust Fund prgms.			12,781			13,004			15,433			16,197			17,656
	Liquidity funds			147			226			396			408			522
	Total assets under mgmnt.		$	12,990		$	13,291		$	15,894		$	16,672		$	18,251
	Client assets under admin. (A)			228,327			231,549			240,965			244,671			275,632
	Total assets		$	241,317		$	244,840		$	256,859		$	261,343		$	293,883
Investments in New Businesses:
	Equity/Fixed Income prgms.		$	568		$	551		$	534		$	513		$	552
	Liquidity funds			34			30			29			43			42
	Total assets under mgmnt.		$	602		$	581		$	563		$	556		$	594
LSV Asset Management:
	Equity/Fixed Income prgms.		$	60,607		$	54,922		$	58,886		$	60,947		$	66,311
Total:
	Equity/Fixed Income prgms (B) (D)		$	162,676		$	157,083		$	168,161		$	173,769		$	177,762
	Collective Trust Fund prgms.			14,839			14,459			16,103			16,324			17,781
	Liquidity funds			11,098			10,157			10,907			11,427			10,611
	Total assets under mgmnt.		$	188,613		$	181,699		$	195,171		$	201,520		$	206,154
	Client assets under admin. (C)			239,243			242,268			252,576			256,849			288,602
	Total assets		$	427,856		$	423,967		$	447,747		$	458,369		$	494,756

(A) Client assets under administration in the Investment Managers segment include $54.1 billion of assets balances that require limited services and therefore are at fee levels below our normal full service assets (as of March 31, 2013). (B) Equity/Fixed Income programs include $3.3 billion of assets invested in various asset allocation funds at March 31, 2013. (C) In addition to the numbers presented, SEI also administers an additional $4.9 billion in Funds of Funds assets (as of March 31, 2013) on which SEI does not earn an administration fee. (D) Equity/Fixed Income programs in the Private Banks segment for 2012 included assets related to SEI Asset Korea which was sold in first-quarter 2013. Assets for SEI Asset Korea for the four quarters of 2012 were $6.6 billion, $6.3 billion. $6.6 billion and $7.0 billion respectively.

SEI INVESTMENTS COMPANY
AVERAGE ASSET BALANCES
(In millions)
(Unaudited)
			1st Qtr.			2nd Qtr.			3rd Qtr.			4th Qtr.			1st Qtr.
			2012			2012			2012			2012			2013
Private Banks:
Equity/Fixed Income prgms.			$	17,116		$	16,794		$	17,527		$	18,301		$	19,197
Collective Trust Fund prgms.				436			396			230			66			11
Liquidity funds				5,581			5,115			5,401			5,229			5,556
Total assets under mgmnt.			$	23,133		$	22,305		$	23,158		$	23,596		$	24,764
Client assets under admin.				10,211			10,631			10,867			11,783			12,860
Total assets			$	33,344		$	32,936		$	34,025		$	35,379		$	37,624
Investment Advisors:
	Equity/Fixed Income prgms.		$	28,426		$	29,103		$	30,032		$	30,881		$	33,189
	Collective Trust Fund prgms.			1,238			984			532			158			14
	Liquidity funds			2,015			1,806			1,886			2,176			2,085
	Total assets under mgmnt.		$	31,679		$	31,893		$	32,450		$	33,215		$	35,288
Institutional Investors:
	Equity/Fixed Income prgms.		$	52,270		$	54,998		$	57,763		$	61,304		$	63,642
	Collective Trust Fund prgms.			427			418			284			120			101
	Liquidity funds			3,765			3,147			3,253			3,493			2,960
	Total assets under mgmnt.		$	56,462		$	58,563		$	61,300		$	64,917		$	66,703
Investment Managers:
	Equity/Fixed Income prgms.		$	58		$	63		$	62		$	68		$	68
	Collective Trust Fund prgms.			11,983			12,991			14,797			15,719			17,129
	Liquidity funds			190			235			287			395			511
	Total assets under mgmnt.		$	12,231		$	13,289		$	15,146		$	16,182		$	17,708
	Client assets under admin.			224,547			229,873			237,155			240,520			263,054
	Total assets		$	236,778		$	243,162		$	252,301		$	256,702		$	280,762
Investments in New Businesses:
	Equity/Fixed Income prgms.		$	549		$	550		$	530		$	518		$	542
	Liquidity funds			39			33			35			33			38
	Total assets under mgmnt.		$	588		$	583		$	565		$	551		$	580
LSV Asset Management:
	Equity/Fixed Income prgms.		$	59,200		$	55,994		$	57,164		$	59,383		$	64,448
Total:
	Equity/Fixed Income prgms (A)		$	157,619		$	157,502		$	163,078		$	170,455		$	181,086
	Collective Trust Fund prgms.			14,084			14,789			15,843			16,063			17,255
	Liquidity funds			11,590			10,336			10,862			11,326			11,150
	Total assets under mgmnt.		$	183,293		$	182,627		$	189,783		$	197,844		$	209,491
	Client assets under admin.			234,758			240,504			248,022			252,303			275,914
	Total assets		$	418,051		$	423,131		$	437,805		$	450,147		$	485,405

(A) Equity/Fixed Income programs in the Private Banks segment for 2012 and 2013 included average assets related to SEI Asset Korea which was sold in first-quarter 2013. Average assets for SEI Asset Korea for the four quarters of 2012 were $6.8 billion, $6.4 billion, $6.5 billion and $6.8 billion respectively. Average assets for the first-quarter 2013 were $7.0 billion.