WASHINGTON (dpa-AFX) - Verisk Analytics Inc. (VRSK) released its first quarter results on Wednesday, reporting a decrease in income from continuing operations but an increase in adjusted EBITDA.
The company reported income from continuing operations of $194.4 million, down 60.1 percent from $487.0 billion a year ago.
Verisk said the decrease in income from continuing operations was primarily due to the sale of 3E and its Financial Services segment in the prior year, which resulted in a net gain in other operating income.
Meanwhile, the company reported adjusted EBITDA of $340.3 million, up 11.5 percent and up 15.7 percent on an organic constant currency basis.
Verisk said the adjusted EBITDA growth reflects the contribution from strong revenue growth combined with cost discipline across its businesses.
The company's revenue for the quarter rose 1.2 percent to $651.6 million from $643.6 million last year.
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