Thursday, Neustar Inc. (NSR), reported sharp rise in its profit for the second quarter from the previous year quarter, on lower expenses, even as revenues declined 4%.
The company recorded second-quarter net income of $24.5 million or $0.32 per share, compared to net income of $22.9 million or $0.30 per share in the same quarter last year.
On average, 10 analysts polled Thomson Reuters expected the company to earn $0.31 per share. Analysts' estimates typically exclude special items.
Neustar's year-over-year quarterly revenue decline was primarily attributed to pricing terms of its contracts to provide telephone number portability services in the United States. The decline was partially offset by a year-over-year quarterly revenue increase from Ultra Services.
Total operating expense for the quarter decreased 6% to $75.7 million from $80.2 million for the second quarter of 2008.
Revenue for the quarter was $115.8 million, down 4% from $120.2 million in the comparable quarter last year. Analysts expected the company to report revenue of $114.25 million for the quarter.
For the six-month period, net income excluding charges was $48.8 million or $0.65 per share for the fiscal 2009, compared to $18.3 million, excluding charges, or $0.24 per share a year ago.
Looking forward, Neustar reaffirmed its prior guidance for the full year 2009.
NSR closed Thursday's regular trading at $22.50, up $0.06 or 0.27% on a volume of 0.48 million shares on the NYSE.
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