Revenue during the quarter went down marginally by 1.50 percent to $31.09 million from $31.57 million in the previous year period. Total expenses were 65.27 percent of quarterly revenues, down from 72.79 percent for the same period last year. This has led to an improvement of 753 basis points in operating margin to 34.73 percent.

Operating income for the quarter was $10.80 million, compared with $8.59 million in the previous year period.

Brian Casey, Westwood's president & chief executive officer, commented, “We were very pleased with the performance of our Emerging Markets products, especially our Emerging Markets SmidCap product, which outperformed its benchmark by over 700 basis points in 2016, and we celebrated the three-year anniversary of our LargeCap concentrated strategy with performance well ahead of its benchmark over the three-year period.

Operating cash flow declines
Westwood Holdings Group, Inc. has generated cash of $47.39 million from operating activities during the year, down 14.16 percent or $7.82 million, when compared with the last year.

The company has spent $1.81 million cash to meet investing activities during the year as against cash outgo of $25.08 million in the last year.

The company has spent $34.94 million cash to carry out financing activities during the year as against cash outgo of $22.14 million in the last year period.

Cash and cash equivalents stood at $33.68 million as on Dec. 31, 2016, up 48.10 percent or $10.94 million from $22.74 million on Dec. 31, 2015.

Working capital increases
Westwood Holdings Group, Inc. has recorded an increase in the working capital over the last year. It stood at $86.29 million as at Dec. 31, 2016, up 18.61 percent or $13.54 million from $72.75 million on Dec. 31, 2015. Current ratio was at 3.91 as on Dec. 31, 2016, up from 2.62 on Dec. 31, 2015.