April 28, 2010 - PRESS RELEASE - 8-K: Current report filing

Exhibit 99.1

NEWS FROM SEI


Investor Contact:		Media Contact:
Murray Louis		Dana Grosser
SEI		SEI
(610) 676-1932		(610) 676-2459
mlouis@seic.com		dgrosser@seic.com
Pages: 8

FOR IMMEDIATE RELEASE

SEI REPORTS FIRST-QUARTER 2010 FINANCIAL RESULTS

OAKS, Pa., April 28, 2010  SEI Investments Company (NASDAQ:SEIC) today announced financial results for first-quarter 2010, reporting an increase in net income attributable to SEI, and diluted earnings per share compared to first-quarter 2009. Diluted earnings per share were $0.31. Earnings were positively affected as a result of an increase in value of Structured Investment Vehicle (SIV) securities held on the companys balance sheet due to cash flow from, and market appreciation of, the securities. First-quarter 2010 results reflect the deconsolidation of LSV Asset Management (LSV) returning to the equity method of accounting. This change in accounting treatment had no impact on net income attributable to SEI. Without LSV, revenues grew $13 million or six percent compared to first-quarter 2009.


Consolidated Overview	For the Three Months Ended March 31,
(In thousands, except earnings per share)	2010		2009		%

Revenues	$	221,535	$	248,611	(11	)%
Net Income attributable to SEI		59,420		34,200	74	%
Diluted Earnings Per Share	$	0.31	$	0.18	72	%

Compared to a year ago, our first-quarter results reflect improving capital markets, the effects of last years cost reduction initiatives, and cash and non-cash enhancements to the value of the SIVs on our balance sheet, said Alfred P. West, Jr., SEI Chairman and CEO.

Our new sales activities are beginning to show results in a healthier economic climate, and we believe there are opportunities in all our segments to achieve growth in new business. In addition, we continue to make key investments in our company that will create long-term growth opportunities for us and for our clients.

The table below provides a proforma comparison as if LSV was reported under the equity method beginning January 2009.


Proforma Consolidated Overview	For the Three Months Ended March 31,
(In thousands, except earnings per share)	2010		2009		%
	(Actual)		(Proforma)

Revenues	$	221,535	$	208,421	6	%
Net Income attributable to SEI		59,420		34,200	74	%
Diluted Earnings Per Share	$	0.31	$	0.18	72	%

Summary of First-Quarter Results by Business Segment


	For the Three Month Period Ended March 31,
(In thousands)	2010			2009			%
Private Banks:
Revenues	$	87,121		$	96,948		(10	)%
Expenses		77,599			78,798		(2	)%

Operating Profit	$	9,522		$	18,150		(48	)%
Operating Margin		11	%		19	%

Investment Advisors:
Revenues		45,463			37,508		21	%
Expenses		27,583			27,109		2	%

Operating Profit		17,880			10,399		72	%
Operating Margin		39	%		28	%

Institutional Investors:
Revenues		50,339			39,379		28	%
Expenses		26,380			24,170		9	%

Operating Profit		23,959			15,209		58	%
Operating Margin		48	%		39	%

Investment Managers:
Revenues		37,610			33,332		13	%
Expenses		24,559			22,867		7	%

Operating Profit		13,051			10,465		25	%
Operating Margin		35	%		31	%

Investments in New Businesses:
Revenues		1,002			1,254		(20	)%
Expenses		2,661			3,293		(19	)%

Operating Loss		(1,659	)		(2,039	)	19	%
Operating Margin		N/A			N/A

LSV:
Revenues					40,190		N/A
Expenses (1)					26,446		N/A

Operating Profit					13,744		N/A
Operating Margin					34	%

Totals:
Revenues	$	221,535		$	248,611		(11	)%
Expenses		158,782			182,683		(13	)%
Corporate overhead expenses		9,717			9,641		1	%
Noncontrolling interest reflected in segments		(309	)		(19,063	)	N/A
LSV Employee Group expenses					1,820		N/A

	$	53,345		$	73,530		(27	)%

(1)	Includes 18,862 for the three-month period ended March 31, 2009 of noncontrolling interest to the other partners of LSV.

First-Quarter Business Commentary:

In January 2010, LSV was deconsolidated due to the adoption of newly issued accounting guidance. Our ownership interest in LSV was unchanged and our proportionate share in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on our Consolidated Statements of Operations. The deconsolidation of LSV had no impact on net income attributable to SEI or diluted earnings per share.

Revenues in first-quarter 2009 include $40.2 million from LSV. Excluding these revenues, revenues in first-quarter 2010 increased $13.1 million or six percent compared to first-quarter 2009. This increase was due to higher asset balances under management and administration from existing clients because of improved capital markets.

Revenues in fourth-quarter 2009 include $62.5 million from LSV. Excluding these revenues, revenues in first-quarter 2010 were essentially flat versus fourth-quarter 2009.

First-quarter 2010 revenues in the Private Banks segment decreased compared to first-quarter 2009 due to lower trade-execution fees from reduced trading activity as well as lower investment processing fees from bank clients previously reported to be involved in mergers and acquisitions.

Expenses in the Private Banks segment during the first-quarter 2010 include a one-time charge of $1.8 million related to a reduction in workforce.

The first-quarter 2010 net income attributable to SEI and diluted earnings per share results include gains of $17.3 million associated with SIV-related issues, of which $10.7 million is from cash distributions received for note principal payments, whereas results in first-quarter 2009 included losses of $14.4 million. SEI has recognized cumulative losses of $171.7 million associated with these SIV-related issues through March 31, 2010. Additional information pertaining to SIV-related issues involving SEI-sponsored money market funds is contained in SEIs 2009 Form 10-K filed February 25, 2010.

Assets under management increased by $3.0 billion during the first-quarter 2010 to $161.9 billion, primarily due to market appreciation.

In the first quarter, SEI purchased 1,020,000 shares of its common stock for $19.5 million.

Proforma Consolidated Statement of Operations

The following proforma Consolidated Statements of Operations presents first quarter 2009 for comparative purposes only as if LSV and LSV Employee Group was deconsolidated on January 1, 2009. This report is being provided for informational purposes only and is not a restatement or reclassification of previously filed reports. Our interest in LSV is presented as a single line item in the Consolidated Statements of Operations titled Equity in earnings of unconsolidated affiliate. For additional information, we refer you to Note 2 to the Consolidated Financial Statements included in our 2009 Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 25, 2010.

SEI INVESTMENTS COMPANY

PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)


	Three Months Ended March 31,
	As Reported SEI Consolidated 2010			Proforma SEI without LSV and LSVEG 2009			%

Total revenues	$	221,535		$	208,421		6	%
Total expenses		168,190			165,677		2	%


Income from operations		53,345			42,744		25	%

Net gain (loss) from investments		17,479			(14,450	)	N/A
Interest, net		1,229			1,318		(7	)%
Equity in earnings of unconsolidated affiliate		24,074			13,754		75	%


Net income before taxes		96,127			43,366		122	%

Income taxes		36,269			8,929		306	%


Net income		59,858			34,437		74	%


Less Net Income attributable to the noncontrolling interest		(438	)		(237	)	85	%


Net income attributable to SEI	$	59,420		$	34,200		74	%


Diluted earnings per share	$	0.31		$	0.18		72	%


Diluted shares outstanding		191,062			191,409

Earnings Conference Call

A conference call to review earnings is scheduled for 2:00 PM ET on April 28, 2010. 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 154929.

About SEI

SEI (NASDAQ:SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The companys innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of March 31, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $394 billion in mutual fund and pooled assets and manages $162 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. 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)


	Three Months Ended March 31,
	2010			2009

Asset management, admin. and distribution fees	$	152,938		$	169,364
Information processing and software servicing fees		58,626			62,217
Transactionbased and trade execution fees		9,971			17,030


Total revenues		221,535			248,611

Subadvisory, distribution and other asset mgmt costs		23,255			19,823
Brokerage commissions and royalties		13,373			17,730
Compensation, benefits and other personnel		67,216			73,438
Stock based compensation		6,657			3,430
Consulting, outsourcing and professional fees		20,707			21,150
Data processing and computer related		9,928			11,515
Facilities, supplies and other costs		15,948			15,433
Amortization		5,900			7,053
Depreciation		5,206			5,509


Total expenses		168,190			175,081

Income from operations		53,345			73,530

Net gain (loss) on investments		17,479			(14,450	)
Interest and dividend income		1,700			1,711
Interest expense		(471	)		(799	)
Equity in earnings of unconsolidated affiliate		24,074


Income before taxes		96,127			59,992

Income taxes		36,269			8,929


Net income		59,858			51,063


Less: Net income attributable to the noncontrolling interest		(438	)		(16,863	)


Net income attributable to SEI	$	59,420		$	34,200


Diluted earnings per common share	$	0.31		$	0.18


Shares used to calculate diluted earnings per common share		191,062			191,409


Basic earnings per common share	$	0.31		$	0.18


Shares used to calculate basic earnings per common share		189,948			191,084

SEI INVESTMENTS COMPANY

CONDENSED BALANCE SHEETS

(In thousands)


	(Unaudited) March 31, 2010		December, 31 2009
Assets

Cash and short-term investments	$	500,661	$	590,877
Restricted cash		22,000		20,000
Receivables		166,016		212,451
Other current assets		19,436		18,075


Total current assets		708,113		841,403

Property and equipment, net		143,018		146,053
Marketable securities		187,374		181,897
Capitalized software, net		281,412		278,656
Investment in unconsolidated affiliate		60,595
Goodwill				22,842
Intangible assets, net				44,859
Other assets, net		18,211		18,098


Total assets	$	1,398,723	$	1,533,808


Liabilities

Current liabilities	$	127,993	$	163,055
Long-term debt		200,000		247,152
Deferred income taxes		88,494		86,257
Long-term liabilities		5,328		5,726

Total SEI Investments Company shareholders equity		963,140		909,723
Noncontrolling interest		13,768		121,895

Total Equity		976,908		1,031,618

Total liabilities and equity	$	1,398,723	$	1,533,808

SEI INVESTMENTS COMPANY

ASSET BALANCES

(In millions)

(Unaudited)


	Mar. 31, 2009		Jun. 30, 2009		Sep. 30, 2009		Dec. 31, 2009		Mar. 31, 2010
Private Banks:
Equity/Fixed Income prgms.	$	9,679	$	10,892	$	12,479	$	12,690	$	12,635
Collective Trust Fund prgm.		1,198		1,176		1,098		1,067		1,023
Liquidity funds		8,929		7,581		6,524		6,035		5,329

Total assets under mgmt.	$	19,806	$	19,649	$	20,101	$	19,792	$	18,987

Client assets under admin.		9,920		10,143		10,941		11,213		11,429

Total assets	$	29,726	$	29,792	$	31,042	$	31,005	$	30,416

Investment Advisors:
Equity/Fixed Income prgms.	$	18,832	$	21,705	$	24,739	$	25,392	$	26,222
Collective Trust Fund prgm.		2,716		2,621		2,521		2,423		2,284
Liquidity funds		3,458		2,469		2,243		1,929		1,731

Total assets under mgmt.	$	25,006	$	26,795	$	29,503	$	29,744	$	30,237

Institutional Investors:
Equity/Fixed Income prgms.	$	32,565	$	36,955	$	43,672	$	44,322	$	45,891
Collective Trust Fund prgm.		791		755		707		684		657
Liquidity funds		3,802		3,462		4,624		3,370		3,198

Total assets under mgmt.	$	37,158	$	41,172	$	49,003	$	48,376	$	49,746

Investment Managers:
Equity/Fixed Income prgms.	$	3	$	3	$	4	$	4	$	2
Collective Trust Fund prgm.		6,917		6,794		7,075		7,428		7,639
Liquidity funds		898		505		528		412		447

Total assets under mgmt.	$	7,818	$	7,302	$	7,607	$	7,844	$	8,088

Client assets under admin. (A)		221,798		213,930		216,222		221,680		220,807

Total assets	$	229,616	$	221,232	$	223,829	$	229,524	$	228,895

Investments in New Businesses:
Equity/Fixed Income prgms.	$	472	$	473	$	473	$	520	$	534
Liquidity funds		157		133		93		75		72

Total assets under mgmt.	$	629	$	606	$	566	$	595	$	606

LSV Asset Management
Equity/Fixed Income prgms.	$	32,308	$	40,210	$	49,349	$	52,488	$	54,189

Consolidated:
Equity/Fixed Income prgms (B)	$	93,859	$	110,238	$	130,716	$	135,416	$	139,473
Collective Trust Fund prgm.		11,622		11,346		11,401		11,602		11,603
Liquidity funds		17,244		14,150		14,012		11,821		10,777

Total assets under mgmt.	$	122,725	$	135,734	$	156,129	$	158,839	$	161,853

Client assets under admin. (C)		231,718		224,073		227,163		232,893		232,236

Total assets	$	354,443	$	359,807	$	383,292	$	391,732	$	394,089

(A)	Client assets under administration in the Investment Managers segment include $59,033 of assets balances that require limited services and therefore are at fee levels below our normal full service assets (as of March 31, 2010).

(B)	Equity/Fixed Income programs include $2,455 of assets invested in various asset allocation funds at March 31, 2010.

(C)	In addition to the numbers presented, SEI also administers an additional $9,040 in Funds of Funds assets (as of March 31, 2010) on which SEI does not earn an administration fee.

Form: 8-K

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