Dun & Bradstreet 3Q Profit Falls 17%; Co Backs '09 Views
DOW JONES NEWSWIRES
Dun & Bradstreet Corp.'s (DNB) third-quarter earnings fell 17%, largely
because of tax benefits a year ago, as weakness in North America continued to
plague the business-information provider.
The company also backed its 2009 projections.
"Our third-quarter performance was very much in line with our expectations,"
said Steve Alesio, chairman and chief executive. "International delivered
another quarter of strong growth. North America performed as expected and
continues to focus on enhancing our value proposition and retaining customers
for the long term."
Though Dun & Bradstreet has remained solidly profitable, the company said a
quarter ago that North American sales were looking worse than expected for the
second half of the year.
The company reported earnings of $54 million, or $1.03 a share, compared with
$65.1 million, or $1.20 a share, a year earlier. Core earnings, which exclude
unusual items, inched up to $1.13 a share from $1.12.
Revenue fell 3% to $399 million. Adjusting for currency translation and
divested businesses, the figure was up 2% on a core basis.
Analysts polled by Thomson Reuters projected earnings of $1.12 a share, on
revenue of $396 million.
Revenue fell 3% in North America but rose 13% internationally.
In after-hours trading, Dun & Bradstreet shares were flat at $78.41. The stock
is down about 5% from its 52-week high in early June, but it remains up about
one-quarter from last November's low.
-By Jay Miller, Dow Jones Newswires; 212-416-2355; jay.miller@dowjones.com
(END) Dow Jones Newswires
10-28-091652ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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