SEI Investments Company (SEIC) has reported a 14.50 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $88.74 million, or $0.55 a share in the quarter, compared with $77.50 million, or $0.47 a share for the same period last year.
Revenue during the quarter grew 7.69 percent to $359.98 million from $334.26 million in the previous year period. Gross margin for the quarter contracted 7 basis points over the previous year period to 95.14 percent. Total expenses were 74.02 percent of quarterly revenues, down from 74.03 percent for the same period last year. This has led to an improvement of 1 basis points in operating margin to 25.98 percent.
Operating income for the quarter was $93.52 million, compared with $86.81 million in the previous year period.
"Our financial results for the quarter reflect new and existing client growth, our focus on expenses, and the necessary investments to expand and strengthen the solutions we bring to our target markets," said Alfred P. West, Jr., SEI Chairman and chief executive officer. "While we are committed to executing for clients in the short term, we remain focused on the long-term needs of our markets. Our advanced solutions are at the center of what will help our clients sustain their success, while helping us achieve sustainable growth and provide increased shareholder value."
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