Legg Mason Inc.'s profit fell short of Wall Street estimates in the first quarter because revenue dropped 6 percent and the company took a one-time charge related to a settlement with the U.S. Department of Justice.
The Baltimore-based money manager reported a profit of $66.1 million, or 75 cents per share, in the quarter ending June 30. That's up 30 percent from $50.9 million, or 52 cents per share, in the prior-year quarter.
Analysts polled by the Thomson Financial Network projected earnings…
