(RTTNews) - Wednesday, Diamond Management & Technology Consultants, Inc. (DTPI: News ) reported a sharp increase in net profit for the second quarter of fiscal year 2010, driven primarily by the rise in demand for the company's services in both the U.S. and U.K..

Net income for the quarter increased to $1.92 million or $0.07 per share from $0.52 million or $0.02 per share in the year-ago period. On average, three analysts polled by Thomson Reuters expected the company to earn $0.04 per share. Analysts' estimates typically exclude special items.

The company's total revenue for the quarter increased to $51.66 million from $46.15 million in the year-ago period. Net revenue increased to $43.58 million from $40.50 million in the prior year period. Wall Street analysts estimated revenues of $39.00 million for the quarter.

The company's total project personal expenses increased to $39.69 million from $35.13 million year-ago. However, total other operating expenses declined to $8.28 million from $9.06 million in the prior year period.

"We delivered a strong second quarter on nearly all dimensions, driven by increased demand in both the U.S. and the U.K.," said Adam Gutstein, president and chief executive officer of Diamond.
Year-to-date, the company's net income increased to $2.85 million or $0.10 per share from $1.24 million or $0.05 per share in the comparable period a year-ago. The company's total revenue for the six month period increased to $96.63 million from $89.72 million year-ago.

For the third quarter, the company expects earnings per share to be in the range of $0.07 - $0.08 per share on net revenue of $43.5 million - $45.5 million. Analysts estimate earnings of $0.03 per share on revenue of $39.83 million.

DTPI is currently trading on the Nasdaq at $6.68, up $0.34 or 5.36%.

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by RTT Staff Writer

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