MSCI Inc. (MSCI) has reported a 14.89 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $68.25 million, or $0.73 a share in the quarter, compared with $59.41 million, or $0.57 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $76.34 million, or $0.81 a share compared with $68.27 million or $0.66 a share, a year ago.
Revenue during the quarter grew 7.30 percent to $292.81 million from $272.89 million in the previous year period. Gross margin for the quarter expanded 195 basis points over the previous year period to 78.20 percent. Total expenses were 56.96 percent of quarterly revenues, down from 60.59 percent for the same period last year. This has led to an improvement of 363 basis points in operating margin to 43.04 percent.
Operating income for the quarter was $126.01 million, compared with $107.54 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $146.96 million compared with $126.91 million in the prior year period. At the same time, adjusted EBITDA margin improved 368 basis points in the quarter to 50.19 percent from 46.51 percent in the last year period.
"Our strong financial performance in 2016 reflects the leadership role we are playing as a preferred provider of mission-critical investment decision support tools to our clients," commented Henry A. Fernandez, chairman and chief executive officer of MSCI.
MSCI's guidance for full-year 2017 is as follows: Total operating expenses are expected to be in the range of $690 million to $705 million and adjusted EBITDA expenses are expected to be in the range of $605 million to $620 million.Net cash provided by operating activities and free cash flow is expected to be in the range of $360 million to $410 million and $310 million to $370 million, respectively.
Operating cash flow improves significantly
MSCI Inc. has generated cash of $434.74 million from operating activities during the year, up 42.07 percent or $128.74 million, when compared with the last year.
The company has spent $42.03 million cash to meet investing activities during the year as against cash outgo of $48.86 million in the last year.
The company has spent $365.27 million cash to carry out financing activities during the year as against cash inflow of $19.95 million in the last year period.
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