W.P. Stewart and Co. Ltd. reported an 11 percent decline in third quarter income of $12.2 million or 27 cents per share compared with $13.7 million in the same period of 2004.

The Bermuda-based asset management company reported income per share of 27 cents in the 2005 quarter compared to 30 cents per share in the 2004 third quarter.

Revenues for the quarter ended September 30, 2005 were $33.7 million, a 1.2 percent decline from $34.1 million in the same period 2004.

Assets under management at quarter end were $9.6 billion, a 9 percent increase over $8.8 billion in the prior quarter and a 13 percent increase over $8.5 billion reported at the end of the third quarter 2004.