Cohen & Steers Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2018; Provides Tax Rate Guidance for the Year 2018
July 18, 2018 at 04:40 pm EDT
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Cohen & Steers Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2018. For the quarter, total revenue of USD 94,410,000 compared to USD 92,714,000 a year ago. Operating income was USD 36,287,000 compared to USD 37,357,000 a year ago. Income before provision for income taxes was USD 35,509,000 compared to USD 37,618,000 a year ago. Net income attributable to common stockholders was USD 29,959,000 or USD 0.63 per diluted share compared to USD 23,474,000 or USD 0.50 per diluted share a year ago. Operating income, as adjusted was USD 36,440,000 compared to USD 37,441,000 a year ago. The company recorded net inflows of USD 180 million in the quarter and annualized organic growth rate of 1%.
For the six months, total revenue of USD 188,874,000 compared to USD 182,455,000 a year ago. Operating income was USD 73,506,000 compared to USD 72,885,000 a year ago. Income before provision for income taxes was USD 72,529,000 compared to USD 73,373,000 a year ago. Net income attributable to common stockholders was USD 57,545,000 or USD 1.22 per diluted share compared to USD 46,459,000 or USD 0.99 per diluted share a year ago.
The company provided tax rate guidance for the year 2018. The company expects effective tax rate will remain at approximately 25.25%.
Cohen & Steers, Inc. is a holding company, which is engaged in global investment management. The Company is specialized in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. The Companyâs distribution network encompasses two channels, wealth and institutional. Its wealth channel includes registered investment advisers, wire houses, independent and regional broker dealers and bank trusts. Its institutional channel includes sovereign wealth funds, corporate plans, insurance companies and public funds, including defined benefit and defined contribution plans, as well as other financial institutions that access its investment management services directly or through consultants and other intermediaries. The Company manages three types of investment vehicles, such as open-end funds, institutional accounts, and closed end.
Cohen & Steers Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2018; Provides Tax Rate Guidance for the Year 2018
COHEN & STEERS, INC. 
