Dun & Bradstreet Corporation (DNB: Quote) Wednesday reported an decline in profit for the second quarter.
The Short Hills, New Jersey-based company reported a second-quarter net income attributable to shareholders of $56.5 million or $1.20 per share, down from $58.4 million or $1.18 per share last year.
Adjusted net income for the quarter was $70.5 million or $1.50 per share, up from $67.0 million or $1.35 per share last year. On average, seven analysts polled by Thomson Reuters expected earnings of $1.42 per share for the quarter. Analysts' estimates typically exclude special items
Total revenues for the quarter dropped 8 percent to $383.9 million from $416.8 million last year. Analysts estimated revenues of $396.06 million for the quarter.
Chief Executive Sara Mathew said, "Our second quarter results were in line with our expectations and we are on track to meet our full year guidance. Cautious customer spending impacted North America during the first half of the year, while International results were solid. Through better traction from new products and improved execution on our core business, we expect North America's growth trajectory to gradually improve in the back half of the year and accelerate into 2013."
Going forward, the company reaffirmed its full year 2012 financial guidance. The company expects earnings growth at the high-end of 8 to 11 percent, before non-core gains and charges; revenue growth of 0 to 3 percent, before the effect of foreign exchange.
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by RTT Staff Writer
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