Morningstar reported earnings of $13.4 million, or 29 cents a share, for the first quarter, more than three times the $4 million, or nine cents a share, it earned in the year-ago period.

Total revenue was $70.1 million, up 32% from $53.2 million in the first quarter of 2005.


Joe Mansueto, Morningstar's chairman and CEO, said the company's acquisition of Ibbotson Associates in March helped improve business, adding $4 million to the top line.

"We're well on our way to integrating Ibbotson into our operations. Even though this quarter only includes one month of Ibbotson's results, its products are already making meaningful contributions to our business, especially in the advisor and institutional segments," Mansueto said.

In addition, strong organic growth, especially among institutional clients, helped drive revenue and profits, he added.

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