Wednesday, NeuStar Inc. (NSR) recorded a profit for the first quarter of fiscal 2009 compared to a loss in the same period last year. The company also re-affirmed its guidance for full year 2009.
The Sterling, Virginia-based provider of clearinghouse services to the communications industry, posted a first quarter net income of $24.35 million or $0.32 per share, compared to a loss of $4.46 million or $0.06 per share reported in the corresponding quarter last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.28 per share for the first quarter. Analysts' estimates typically exclude special items.
Revenues totaled $113.19 million, down 4% from $117.41 million reported in the prior-year period. Analysts were anticipating revenues of around $113.26 million for the quarter.
On a divisional basis, the company's Addressing segment reported a 8% revenue growth to $32.49 million, while its Interoperability and Infrastructure segments recorded 13% and 6% fall in revenues to $14.31 million and $66.39 million, respectively.
Operating expenses decreased to $74.41 million from $106.38 million in the first quarter of 2008. Absent in the current quarter's results was goodwill impairment charge, which was recorded at $29.02 million in the last year.
"Despite the tremendous headwinds facing our economy, NeuStar generated solid revenues, with strong profits and cash flows", commented Jeff Ganek, NeuStar's Chairman and Chief Executive Officer.
NSR ended Wednesday's regular trading at $19.84, up 0.20% or $0.04, on a volume of 688,910 shares on the New York Stock Exchange.
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