Fifth Street Asset Management Inc. announced earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total revenues of $22,457,196 against $25,489,241 a year ago. Income before provision for income taxes was $11,787,409 against $10,212,265 a year ago. Net loss attributable to the company was $237,718 or $0.04 per basic and diluted Class A common stock against income of $1,150,572 or $0.19 per basic and diluted Class A common stock a year ago. Adjusted net income was $13,463,000 against $11,717,000 a year ago. Pro forma adjusted net income was $9,922,000 or $0.20 per Class A common share against $8,651,000 or $0.17 per Class A common share a year ago. The decrease in Revenue was primarily due to a reduction in the contractual base management fee rate charged to Fifth Street Finance Corp. from 2.00% to 1.75% effective January 1, 2016, as well as lower asset levels at managed funds. The increase in pro forma adjusted net income was primarily due to the revenue and net expense variances. For the nine months, the company reported total revenues of $64,656,437 against $74,846,182 a year ago. Income before provision for income taxes was $11,715,949 against $32,741,228 a year ago. Net loss attributable to the company was $622,041 or $0.13 per diluted Class A common stock against income of $3,554,355 or $0.60 per basic and diluted Class A common stock a year ago. Adjusted net income was $33,659,000 against $37,705,000 a year ago. Pro forma adjusted net income was $26,049,000 or $0.52 per Class A common share against $27,059,000 or $0.54 per Class A common share a year ago.