For the quarter ended June 30, the company saw earnings rise 5.2% to $8.6 million, or 33 cents per diluted share, compared with earnings of $8.2 million, or 14 cents per diluted share, in the same period a year ago. Earnings from continuing operations were 29 cents per share, slightly below analyst estimates of 30 cents a share.
Revenue rose 18.2% to $79.2 million from $67 million during the quarter. Revenue from its professional service segment increased 27.5% to $56.5 million from $44.3 million.
"Our diversified business model served us well in the second quarter, allowing us to deliver double-digit revenue growth amid a challenging economic environment," said James Dolan, CEO and president. "The litigation support segment comprised 29.7% of professional services division revenues, fueled by the strong performance of our discovery management provider, DiscoverReady."DiscoverReady, which the company acquired in November 2009, brought in $13.3 million in revenue, but also resulted in increased costs. The total operating expenses was up 22.6% to $63.8 million from $53.1 million. For the first half of the year, earnings rose 5.6% to $17.8 million, or 63 cents a share, compared with earnings of $16.9 million, or 32 cents a share, in the same period a year ago. Revenue rose 19.2% to $156.2 million from $131 million. Revenue from its professional services segment was up 30.3% to $112.5 million from $86.3 million. Management reaffirmed its financial earnings guidance of $34 to $36 million, and $307 to $310 million in total revenues for the year. It also confirmed its net income attributable to The Dolan Company of $1.11 to $1.18 per diluted share, and cash earnings of $1.54 to $1.60 per diluted share. -- Reported by Theresa McCabe in Boston. Follow Theresa McCabe on Twitter and become a fan on Facebook.
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