Cohen Steers (CNS) has reported 27.11 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $22.98 million, or $0.49 a share in the quarter, compared with $18.08 million, or $0.39 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $21.92 million, or $0.47 a share compared with $18.80 million or $0.41 a share, a year ago.
Revenue during the quarter grew 12.56 percent to $89.69 million from $79.68 million in the previous year period. Total expenses were 60.39 percent of quarterly revenues, down from 64.47 percent for the same period last year. This has led to an improvement of 409 basis points in operating margin to 39.61 percent.
Operating income for the quarter was $35.53 million, compared with $28.31 million in the previous year period.
However, the adjusted operating income for the quarter stood at $35.52 million compared to $30.32 million in the prior year period. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: firstname.lastname@example.org