Federated Investors, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, total revenue was $289,904,000 against $243,639,000 a year ago. Operating income was $84,822,000 against $76,885,000 a year ago. Income before income taxes was $85,521,000 against $77,456,000 a year ago. Net Income was $55,842,000 against $47,610,000 a year ago. Earnings per basic and diluted share attributable to Federated Investors, Inc. were $0.52 against $0.46 a year ago.

For the year, total revenue was $1,143,371,000 against $926,609,000 a year ago, driven by improvement in money fund waivers and equity-related revenue. Operating income was $335,683,000 against $279,446,000 a year ago. Income before income taxes was $340,934,000 against $274,906,000 a year ago. Net Income was $208,919,000 against $169,807,000 a year ago. Earnings per basic and diluted share attributable to Federated Investors, Inc. were $2.03 against $1.62 a year ago.

For the first quarter of 2017, the company do not expect this adoption to have a significant impact on effective tax rate and anticipate the tax rate will be closer to 37%.