Westwood Holdings Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenues of $32,760,000 against $33,756,000 a year ago. The decreases were primarily due to net outflows and the sale of the Omaha-based component of Private Wealth business, partially offset by higher performance-based fees earned in the current quarter. Income before income taxes was $10,936,000 against $10,583,000 a year ago. Net income was $7,992,000 against $6,896,000 a year ago. Earnings per diluted share were $0.94 against $0.83 a year ago. Economic earnings were $12,245,000 against $11,710,000 a year ago. Economic EPS was $1.43 against $1.41 a year ago.

For the six months, the company reported total revenues of $66,327,000 against $66,379,000 a year ago. Income before income taxes was $21,423,000 against $18,353,000 a year ago. Net income was $15,970,000 against $12,960,000 a year ago. Earnings per diluted share were $1.87 against $1.56 a year ago. Economic earnings were $24,887,000 against $22,318,000 a year ago. Economic EPS was $2.91 against $2.68 a year ago. Net cash provided by operating activities was $26,822,000 against $30,610,000 a year ago. Net cash provided by operating activities was $8,401,000 against $26,822,000 a year ago. Purchases of property and equipment were $426,000 against $245,000 a year ago.

The company continues to expect fiscal 2018 effective tax rate to be in the range of 26% to 28%.