Morningstar Inc. said on Wednesday that profit in the second quarter fell 12 percent on rising costs for compensation and other expenses.

Net income for the Chicago investment research company company fell to $18.0 million, or 36 cents per share, for the quarter, from $20.5 million, or 41 cents a share, for the same period a year earlier.

Revenue rose to $136.1 million, from $119.5 million for the year-earlier quarter, the company said. Revenue from acquisitions of $12.7 million helped drive the increase, along with more sales of software and data products. But total operating expenses also rose, including higher costs for salaries, sales and marketing. Get the full story »