SkillSoft Posts Higher 2Q Profit

NASHUA, N.H. (AP) — Education software company SkillSoft PLC said Thursday its fiscal second-quarter profit grew 33 percent, boosted by lower operating costs even as revenue inched lower.

For the three months ended July 31, the company earned $17.2 million, or 17 cents per share, up from a profit of $12.9 million, or 12 cents per share, in the same period a year earlier.

Revenue slipped 5 percent to $78.9 million from $83.3 million.

Analysts, on average, were expecting a more modest profit of 14 cents per share, on sales of $76.4 million, according to a poll by Thomson Reuters.

"While continuing to work hard through these challenging economic times, we currently don't see signs of an improving customer environment, but also we don't see the customer environment further deteriorating," said Chuck Moran, president and CEO, in a statement.

The company also raised its full-year revenue and profit outlook.

Shares rose 58 cents, or 6.5 percent, to $9.50 in after-hours trading. The stock had closed up 17 cents at $8.92.

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