Federated Investors, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 28, 2016 at 09:16 pm
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Federated Investors, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company announced total revenue of $243,639,000 compared to $217,858,000 for the same period a year ago. Operating income was $76,885,000 compared to $61,634,000 for the same period a year ago. Income before income taxes was $77,456,000 compared to $62,157,000 for the same period a year ago. Net income including the non-controlling interests in subsidiaries was $49,169,000 compared to $39,605,000 for the same period a year ago. Net income attributable to the company was $47,610,000 compared to $39,613,000 for the same period a year ago. Earnings per share, basic and diluted were $0.46 compared to $0.38 for the same period a year ago. Revenue increased primarily due to a decrease in voluntary fee waivers related to certain money market funds in order for those funds to maintain positive or zero net yields (voluntary yield-related fee waivers) and an increase in revenue from higher average equity assets. The increase in revenue was partially offset by a decrease in revenue from lower average fixed-income assets.
For the full year, the company announced total revenue of $926,609,000 compared to $859,250,000 for the same period a year ago. Operating income was $279,446,000 compared to $237,949,000 for the same period a year ago. Income before income taxes was $274,906,000 compared to $239,352,000 for the same period a year ago. Net income including the non-controlling interests in subsidiaries was $171,986,000 compared to $149,822,000 for the same period a year ago. Net income attributable to the company was $169,807,000 compared to $149,236,000 for the same period a year ago. Earnings per share, basic and diluted were $1.62 compared to $1.42 for the same period a year ago. Revenue increased primarily due to a decrease in voluntary yield-related fee waivers and an increase in revenue from higher average equity assets. The increase in revenue was partially offset by a decrease in revenue from lower average money market assets.
Federated Hermes, Inc. is an investment management company. The Company operates through a single segment, being the investment management business. It sponsors, markets and provides investment-related services to various investment products, including sponsored investment companies and other funds (Federated Hermes Funds); and Separate Accounts, which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets. In addition, it markets and provides stewardship and real estate development services to various domestic and international companies. The Company provides investment advisory services to approximately 180 Federated Hermes Funds. It markets these funds to institutional customers and banks, broker/dealers and other financial intermediaries who use them to meet the needs of customers and/or clients, including, among others, retail investors, corporations and retirement plans.
FEDERATED HERMES, INC. 
