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Virtus announces third quarter financial results

Virtus Investment Partners reported financial and operating results for the third quarter of 2012 that included record levels of sales, pre-tax earnings, and operating margin, as adjusted. Operating income, as adjusted, was $21.8 million for the quarter ended September 30, 2012, an increase of 70 percent from $12.8 million in the third quarter of 2011. Operating margin, as adjusted, was 40 percent, compared with 31 percent and 38 percent for the respective prior quarters.