Morningstar reported third quarter results on Thursday, indicating that net income rose 47% to $19.9 million, or 41 cents per diluted share, up from $13.5 million, or 29 cents per diluted share, in the third quarter of 2006.

Revenue rose 37% to $111.9 million in the third quarter, up from $81.8 million in the third quarter of 2006. Acquisitions completed in the past year contributed $10.2 million in revenue to the last quarter, while foreign currency exchanges contributed $900,000.

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