WASHINGTON (dpa-AFX) - Risk management solution provider Dun & Bradstreet Corp. (DNB) Thursday reported 5 percent rise in second-quarter profit to $58.4 million from $55.8 million in the year-ago quarter. Earnings per share rose to $1.18 from $1.10 last year.
Results include a net after-tax, non-core charge of $8.6 million in the reporting period, and a net after-tax, non-core charge of $6.7 million in the year-ago period.
Excluding items, net income rose 8 percent to $67.0 million or $1.35 per share from $62.4 million or $1.23 per share last year.
On average, 10 analysts polled by Thomson Reuters expected earnings of $1.27 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter grew 5 percent to $416.8 million from $397.3 million in the year-ago quarter. Eight Street analysts had a consensus revenue estimate of $410.7 million for the quarter.
Total revenue for the year-ago quarter included the results of the company's North American Self Awareness Solutions business which was divested in the third quarter of 2010.
Before the effect of foreign exchange, Risk Management Solutions revenue grew 7 percent to $274.4 million. Sales & Marketing Solutions revenue grew 4 percent and Internet Solutions revenue grew 6 percent.
Total operating income dropped 1 percent to $89.7 million.
Sara Mathew, D&B's chairman and chief executive officer, said,' While the early sunset of low profit legacy products is pressuring near-term revenue growth, our top line trajectory is expected to improve during the second half of the year as we gain traction on new products
The company reaffirmed its full-year outlook, of adjusted earnings growth of 6 to 10 percent, and core revenue growth of 5 to 8 percent, before the effect of foreign exchange. The Street expects earnings of $6.06 per share for the full year and revenues of $1.750 billion.
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