Cohen & Steers, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue of $89.686 million compared to $79.681 million a year ago. Operating income was $35.528 million compared to $28.307 million a year ago. Income before provision for income taxes was $35.755 million compared to $28.950 million a year ago. Net income attributable to common stockholders was $22.985 million or $0.49 per diluted share compared to $18.083 million or $0.39 per diluted share a year ago. Net income attributable to common stockholders, as adjusted was $21.916 million or $0.47 per diluted share compared to $18.795 million or $0.41 per diluted share a year ago. Revenue, as adjusted was $89.718 million compared to $79.738 million a year ago. Operating income, as adjusted was $35.515 million compared to $30. 315 million a year ago. The change in revenue was primarily due to the following: Institutional investment advisory fees increased $1.3 million to $24.6 million due to higher average assets under management, partially offset by two fewer days in the quarter; and Open-end fund investment advisory and administration fees decreased $750,000 to $38.3 million as a result of two fewer days in the quarter, partially offset by higher average assets under management.

The company expects effective tax rate will remain at approximately 38% for the year 2017.