Moelis & Company (MC) has reported 42.55 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $15.04 million, or $0.58 a share in the quarter, compared with $10.55 million, or $0.48 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $39.33 million, or $0.66 a share compared with $29.05 million or $0.52 a share, a year ago. Revenue during the quarter grew 17.06 percent to $204.61 million from $174.79 million in the previous year period. Gross margin for the quarter expanded 36 basis points over the previous year period to 98.16 percent. Total expenses were 69.93 percent of quarterly revenues, down from 75.15 percent for the same period last year. This has led to an improvement of 522 basis points in operating margin to 30.07 percent.
Operating income for the quarter was $61.52 million, compared with $43.44 million in the previous year period.
“We achieved record revenues in 2016 as our investments in talent around the globe and exceptional collaboration across geographies and products led to an increasing number of client relationships. We are experiencing significant momentum not only in the U.S., but in emerging regions such as India, Asia, the Middle East and Brazil as the M&A cycle continues and restructuring activity grows,” said Ken Moelis Chairman and Chief Executive Officer.
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