Cohen & Steers Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenue of $81.67 million compared to $81.84 million a year ago. Operating income was $30.35 million compared to $32.35 million a year ago. Income before provision for income taxes was $18.27 million compared to $27.81 million a year ago. Net income attributable to common stockholders was $5.88 million or $0.13 per basic and diluted share compared to $15.7 million or $0.34 per diluted share a year ago.

For the full year, the company reported total revenue of $328.66 million compared to $313.93 million a year ago. Operating income was $127.55 million compared to $121.94 million a year ago. Income before provision for income taxes was $112.74 million compared to $122.01 million a year ago. Net income attributable to common stockholders was $64.55 million or $1.41 per diluted share compared to $75.51 million or $1.65 per diluted share a year ago. The full year 2015 results included unrealized nonoperating losses on seed investments of $15.4 million and a higher effective tax rate resulting from a full valuation allowance that was recorded on those losses.

The company expect that effective tax rate will approximate 38% for 2016.