Cohen & Steers, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of $99,342,000 against $89,434,000 a year ago. Operating income was $40,888,000 against $35,860,000 a year ago. Net income attributable to common stockholders was $20,398,000 against $26,188,000 a year ago. Diluted earnings per share were $0.43 against $0.56 per share a year ago. Adjusted net income attributable to common stockholders was $26,055,000 or $0.55 per share against $22,373,000 or $0.48 per share a year ago. Revenue, as adjusted, for the fourth quarter of 2017 was $99.4 million, compared with $96.5 million for the third quarter of 2017. Income before provision for income taxes was $43,727,000 against $37,287,000 a year ago. Operating income as adjusted was $41,238,000 against $35,913,000 a year ago.

For the year, the company reported revenue of $378,194,000 against $349,876,000 a year ago. Operating income was $154,746,000 against $135,511,000 a year ago. Net income attributable to common stockholders was $91,939,000 against $92,936,000 a year ago. Diluted earnings per share were $1.96 against $2.00 per share a year ago. Adjusted net income attributable to common stockholders was $97,037,000 or $2.07 per share against $86,109,000 or $1.85 per share a year ago. Revenue, as adjusted, for the year ended December 31, 2017 was $378.5 million, compared with $350.0 million for the year ended December 31, 2016. Income before provision for income taxes was $160,400,000 against $143,403,000 a year ago. Operating income as adjusted was $154,636,000 against $137,709,000 a year ago.

As a result of the recently enacted Tax Cuts and Jobs Act, the company expects that the effective tax rate will be between 25.25% and 26.25% for 2018.