SEI Investments Company (SEIC) has reported an 8.89 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $88.61 million, or $0.55 a share in the quarter, compared with $81.38 million, or $0.48 a share for the same period last year.
Revenue during the quarter grew 9.96 percent to $368.81 million from $335.40 million in the previous year period. Total expenses were 73.39 percent of quarterly revenues, down from 75.49 percent for the same period last year. This has led to an improvement of 210 basis points in operating margin to 26.61 percent.
Operating income for the quarter was $98.14 million, compared with $82.21 million in the previous year period.
"Our financial results for both the fourth quarter and the full year show modest gains and reflect the ongoing investments we are making to deliver next generation solutions to our clients," said Alfred P. West, Jr., SEI chairman and chief executive officer. "We continue to anticipate significant change in the markets we serve and will provide broad-based solutions to address our clients’ complex needs. While net-sales events slowed during the fourth quarter, we are well positioned to capitalize on the significant opportunities within our markets.
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