(January 18 – 11:00 ET) – Investment firm Legg Mason Inc. is reporting its results for the third quarter ended Dec. 31, 2000.

The Baltimore-based firm, which bought Perigee Investment Counsel Inc. last year, reported net revenues of $349.1 million, up 11% from a year ago. (All figures in U.S. dollars.)

Net earnings were $41.3 million and diluted earnings per share was 61¢ for the quarter, up 17% and 13% respectively over the corresponding quarter a year ago.

Net revenues were up 6% compared to the second quarter ended Sept. 30, 2000, while net earnings and diluted earnings per share were both up 11% over the same period.

These improved results are being attributed to increases in revenues from asset management and investment banking. As required by pooling of interests accounting, all periods presented have been restated to include the operating results of Perigee.

Commenting on Legg Mason’s operating results, chairman and CEO Raymond “Chip” Mason, said, “I am very pleased that we continued to achieve revenue and earnings growth in what has been a period of less stable markets. I am also delighted with our record assets under management, now standing at $137 billion, and the continuing increase in the revenues from our fee-based brokerage accounts, which are up 41% in the past year.”

The firm is also reportedly sniffing around other possible Canadian acquisitions.