Cohen & Steers Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenue of $81.84 million compared to $73.43 million a year ago. Operating income was $32.35 million compared to $29.36 million a year ago. Income before provision for income was $27.81 million compared to $31.33 million a year ago. Net income attributable to common stockholders was $15.70 million or $0.34 per diluted share compared to $19.41 million or $0.43 per diluted share a year ago.

For the full year, the company reported total revenue of $313.93 million compared to $297.71 million a year ago. Operating income was $121.94 million compared to $106.34 million a year ago. Income before provision for income was $122.01 million compared to $104.36 million a year ago. Net income attributable to common stockholders was $75.51 million or $1.65 per diluted share compared to $68.12 million or $1.51 per diluted share a year ago.

For 2015, the company expects to have lower deferred compensation expense in 2015. The company expects compensation revenue - compensation-to-revenue ratio to be approximately 31%. The company expects G&A will include higher costs related to additional Real Assets Institutes and expansion space at corporate headquarters in New York. As a result, the company projects G&A to increase between 6% to 8% from 2014. Based on preliminary projections, the company expects effective tax rate will approximate 36.5% for 2014. And finally, the company expects effective fee rate for 2015 will be between 57 and 58 basis points.