Silvercrest Asset Management Group Inc. (SAMG) has reported 47.14 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $1.29 million, or $0.15 a share in the quarter, compared with $0.87 million, or $0.11 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $2.63 million, or $0.19 a share compared with $2.54 million or $0.19 a share, a year ago.

Revenue during the quarter grew 10.31 percent to $21.19 million from $19.21 million in the previous year period. Total expenses were 84.31 percent of quarterly revenues, up from 79.45 percent for the same period last year. That has resulted in a contraction of 485 basis points in operating margin to 15.69 percent.

Operating income for the quarter was $3.33 million, compared with $3.95 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $5.89 million compared with $5.77 million in the prior year period. At the same time, adjusted EBITDA margin contracted 225 basis points in the quarter to 27.79 percent from 30.03 percent in the last year period.

Debt comes down significantly 
Silvercrest Asset Management Group Inc. has recorded a decline in total debt over the last one year. It stood at $2.49 million as on Dec. 31, 2016, down 44.93 percent or $2.03 million from $4.51 million on Dec. 31, 2015. Total debt was 2.21 percent of total assets as on Dec. 31, 2016, compared with 4.17 percent on Dec. 31, 2015. Debt to equity ratio was at 0.04 as on Dec. 31, 2016, down from 0.07 as on Dec. 31, 2015. Interest coverage ratio improved to 61.59 for the quarter from 56.39 for the same period last year.