Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Morningstar's Net Rises While Revenues Drop Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 1, 2009

Morningstar's Net Rises While Revenues Drop

by: Neil Anderson, Managing Editor

Despite a drop in revenue and an increase in staff, Morningstar's net income is on the rise. On Thursday the Chicago-based fund ratings specialists unveiled net income for the first quarter of 2009 of $25.0 million, up 7.6 percent year-over-year from $23.1 million.

At the same time, Joe Mansueto's firm saw quarterly revenue drop 6.9 percent year-over-year, from $125.4 million in Q1 2008 to $116.7 million in Q1 2009. And Mansueto staffed up in the meantime, too, increasing total head count from 2,040 on March 31, 2008 to 2,370 on March 31, 2009.

Mansueto still sounds both cautious and optimistic.

"This was a challenging quarter. Still, we believe we responded effectively to the overall market conditions and global economic weakness," stated Mansueto, chairman and CEO. "On the not-so-bright side ... as we've previously shared, the loss of two investment consulting clients and the market decline to date will create a headwind for our consulting business for the remainder of the year." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use