Citing the strength of subscriptions by financial advisers to its Morningstar Advisor Workstation and sales of its stock research to investment banks, Morningstar has reported fourth-quarter profits of $10.1 million, compared with a loss of $1.1 million in the fourth quarter of 2004. Morningstar's investment consulting services for funds-of-funds also contributed to this growth.

For the year ended Dec. 31, Morningstar earned $31.1 million, nearly four times what it earned in 2004.

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