Waddell & Reed sees $25.2 million profit for 2nd quarter

Waddell & Reed Financial's second-quarter profit climbed to $25.2 million, from $22.3 million for the second quarter of 2003, according to a news release. The release cited fee increases as they reason. In its earnings statement, released today, the firm also said it experienced a softening of sales in both its institutional and non-proprietary channels.