GAMCO Investors, Inc (GBL) has reported 4.63 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $24.82 million, or $0.82 a share in the quarter, compared with $26.02 million, or $0.88 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $19.79 million, or $0.66 a share compared with $18.23 million or $0.61 a share, a year ago. Revenue during the quarter grew 5.57 percent to $85.92 million from $81.38 million in the previous year period. Total expenses were 48.08 percent of quarterly revenues, up from 43.45 percent for the same period last year. That has resulted in a contraction of 463 basis points in operating margin to 51.92 percent.
Operating income for the quarter was $44.61 million, compared with $46.02 million in the previous year period.
However, the adjusted operating income for the quarter stood at $34.32 million compared to $32.33 million in the prior year period.
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