Although Morningstar's business for the second quarter of 2012 was slow, Jon Manseuto, chairman and CEO of Morningstar, said it had significant revenue growth with Morningstar Direct and Morningstar Data.

For the second quarter of 2012, Morningstar, Inc had $166.0 million in total revenue, a 3.1 percent increase from $161.0 million from the second quarter of 2011. Morningstar also had $27.9 million in net income and 56 cents per diluted shares for the second quarter of 2012, compared with the their net income was $26.5 million and 52 cents per diluted share from the same quarter of the year prior.

"Business was sluggish during the quarter. The investment industry continues to face challenges, and our clients remain cautious about spending," stated Manseuto. He added that "through dividends and stock buybacks, we’ve returned $115 million to shareholders this year, while preserving our strong balance sheet."

 

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