Fifth Street Asset Management Inc. reported consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported total revenues were $19,047,731 compared to $24,958,615 a year ago. The decrease in Revenue was primarily due to elevated litigation-related costs at funds, which resulted in lower management fees earned. Loss before provision for income taxes was $11,365,070 compared to income of $11,667,378 a year ago. Net loss attributable to company was $1,239,385 or $0.24 diluted per share compared to income of $1,296,602 or $0.21 diluted per share a year ago. Pro forma adjusted net income was $6.1 million, or $0.12 per share, for the quarter ended March 31, 2016, which represented a $2.9 million, or 32.2%, decrease as compared to $9.1 million, or $0.18 per share, for the quarter ended March 31, 2015. The decrease in pro forma adjusted net income was primarily due to the revenue decline.