Legg Mason posts $453.9M quarterly loss on impairment charge

Legg Mason Inc. posted a $453.9 million loss for its fiscal third quarter as a result of previously announced $734 million in non-cash impairment charges.

The Baltimore asset manager lost $3.45 per share for the quarter ending Dec. 31 it announced Friday. Analysts had been expecting the company would lose $3.23 a share. On an adjusted basis, excluding the charge, Legg earned 70 cents a share for the three-month period.

The quarterly loss compares with the $281.1 million, or 20 cents a share, Legg…