Western Union Reiterates 2009 Profit Forecast

ENGLEWOOD, Colo. (AP) — Western Union Co. maintained its full-year earnings outlook Tuesday after reporting its first-quarter profit rose 8 percent.

The money transfer agent still expects a profit of $1.18 to $1.28 per share for 2009. Revenue is expected to fall 5 percent to 8 percent, which would indicate revenue of approximately $4.86 billion to $5.02 billion. The company reported $5.28 billion in revenue for the previous year.

Analysts polled by Thomson Reuters predict net income of $1.22 per share on revenue of $5.01 billion. Analysts' estimates typically exclude one-time items.

Western Union's first-quarter profit increased mostly because the prior-year period was burdened by a large restructuring charge.