Investment advisor Federated Investors ( FHI 1.56% ) reported its first-quarter financial results on April 23, and it was yet another boring yet solid report. Net income and revenue both rose slightly from the year-ago period, though they came in just a little short of Wall Street analyst expectations. While the results aren't flashy, there's something to be said for Federated's steady, reliable results. Let's take a closer look at the details.