Cohen & Steers Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2016; Provides Tax Rate Guidance for 2016
July 20, 2016 at 04:43 pm EDT
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Cohen & Steers Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenue of USD 86,373,000, operating income of USD 34,131,000, income before provision for income taxes of USD 38,597,000 and net income attributable to common stockholders of USD 24,808,000 or USD 0.53 per diluted share compared to total revenue of USD 83,502,000, operating income of USD 31,171,000, income before provision for income taxes of USD 31,217,000 and net income attributable to common stockholders of USD 19,012,000 or USD 0.42 per diluted share for the same quarter a year ago. For the quarter, the company recorded net inflows of USD 2.3 billion.
For the six Months, the company reported total revenue of USD 166,054,000, operating income of USD 62,438,000, income before provision for income taxes of USD 67,547,000 and net income attributable to common stockholders of USD 42,891,000 or USD 0.93 per diluted share compared to total revenue of USD 167,317,000, operating income of USD 65,720,000, income before provision for income taxes of USD 64,214,000 and net income attributable to common stockholders of USD 39,828,000 or USD 0.87 per diluted share for the same period a year ago.
The company still expects that G&A will increase approximately 1% to 2% from last year. And finally, it projects that its effective tax rate as adjusted will remain at approximately 38%.
Cohen & Steers, Inc. is a holding company, which is engaged in global investment management. The Company is specialized in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. The Companyâs distribution network encompasses two channels, wealth and institutional. Its wealth channel includes registered investment advisers, wire houses, independent and regional broker dealers and bank trusts. Its institutional channel includes sovereign wealth funds, corporate plans, insurance companies and public funds, including defined benefit and defined contribution plans, as well as other financial institutions that access its investment management services directly or through consultants and other intermediaries. The Company manages three types of investment vehicles, such as open-end funds, institutional accounts, and closed end.
Cohen & Steers Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2016; Provides Tax Rate Guidance for 2016
COHEN & STEERS, INC. 
