Federated Investors, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, total revenue was $278,312,000 against $289,904,000 a year ago. The decrease in revenue was partially offset by a decrease in voluntary fee waivers related to certain money market funds in order for those funds to maintain positive or zero net yields (voluntary yield-related fee waivers) and an increase in revenue from higher average equity and fixed-income assets. Operating income was $90,834,000 against $84,822,000 a year ago. Income before income taxes was $93,187,000 against $85,521,000 a year ago. Net Income was $131,810,000 against $55,842,000 a year ago. Earnings per basic and diluted share attributable to Federated Investors, Inc. were $1.31 against $0.52 a year ago. Fourth quarter 2017 adjusted EPS was $0.61, up 17% from EPS of $0.52 for fourth quarter 2016, and adjusted net income was $61.4 million, compared to net income of $55.8 million for fourth quarter 2016.  For the year, total revenue was $1,102,924,000 against $1,143,371,000 a year ago. The decrease in revenue was partially offset by a decrease in voluntary yield-related fee waivers and an increase in revenue from higher average equity and fixed-income assets. Operating income was $341,508,000 against $335,683,000 a year ago. Income before income taxes was $352,002,000 against $340,934,000 a year ago. Net Income was $291,341,000 against $208,919,000 a year ago. Earnings per basic and diluted share attributable to Federated Investors, Inc. were $2.87 against $2.03 a year ago. Full-year 2017 adjusted EPS was $2.18, up 7% from EPS of $2.03 for 2016, and adjusted net income was $220.9 million, compared to net income of $208.9 million for 2016.