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

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

Rating:Morningstar Q1 Profit Rises Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 04, 2006

Morningstar Q1 Profit Rises

by: Armie Margaret Lee

Morningstar Inc. on Thursday said first quarter earnings jumped 235 percent, propelled by strong organic growth and its acquisition of Ibbotson Associates.

The Chicago-based research firm posted a net income of $13.4 million, compared with $4 million in the same period last year. Revenues rose 32 percent to $70.1 million from $53.2 million a year ago.

Joe Mansueto, chairman and chief executive of Morningstar, said that almost all of the firm's core products contributed to revenue growth, with Morningstar Advisor Workstation Enterprise Edition and Investment Consulting recording the largest gains.

Ibboston, which Morningstar purchased in March for $83 million, contributed first quarter revenue of $500,000 to Morningstar's Individual segment, $1.5 million to the Advisor segment and $2.4 million to the Institutional segment. Ibbotson is a provider of asset allocation research and services.

"We're well on our way to integrating Ibbotson into our operations," Mansueto said in a statement. "We're particularly excited about Ibbotson's funds of funds consulting, managed retirement accounts, and institutional software services."  

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

 Do You Recommend This Story?

Return to Top
 News Archives
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use