Westwood Holdings Group, Inc. (WHG) has reported a 72.17 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $6.06 million, or $0.73 a share in the quarter, compared with $3.52 million, or $0.44 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $10.61 million, or $1.28 a share compared with $8.09 million or $1.01 a share, a year ago.

Revenue during the quarter grew 11.99 percent to $32.62 million from $29.13 million in the previous year period. Total expenses were 76.18 percent of quarterly revenues, down from 80.62 percent for the same period last year. This has led to an improvement of 443 basis points in operating margin to 23.82 percent.

Operating income for the quarter was $7.77 million, compared with $5.65 million in the previous year period.

Brian Casey, Westwood’s president & chief executive officer, commented, "Looking to the remainder of 2017, Westwood strategies are well��"positioned in an environment where active management can deliver excess returns and specific outcomes for our clients. Our focus remains, as it has for more than 30 years, on controlling downside protection and absolute risk. We believe that our high active share equity strategies, which provide varying levels of volatility exposure and return profiles, will attract investors looking for differentiated results."

The company has spent $0.15 million cash to meet investing activities during the quarter as against cash outgo of $0.38 million in the last year period.

The company has spent $13.08 million cash to carry out financing activities during the quarter as against cash outgo of $14.28 million in the last year period.

Cash and cash equivalents stood at $30.63 million as on Mar. 31, 2017, up 15.90 percent or $4.20 million from $26.42 million on Mar. 31, 2016.