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National Research Corporation (NASDAQ:NRCI) today announced results for the fourth quarter and year-end 2010.
Revenue $15.9 million up 15%
Net income $1.6 million down 30%
Diluted earnings per share $0.23 down 30%
Net new contracts signed reached $5.1 million, up 80%
Revenue $63.4 million up 10%
Net income $8.5 million; diluted earnings per share $1.26
Net new contracts signed up 80%; total contract value up 22%
Commenting on the fourth quarter results, Michael D. Hays, president and chief executive officer of National Research Corporation, said, “We accelerated our investment in growth opportunities during the fourth quarter in light of favorable conditions for Illuminate and our new subscription-based offerings from NRC Picker, The Governance Institute and My InnerView. We also continued sales force expansion. The returns from these investments are continuing to materialize in the form of increased sales and sustainable points of differentiation in the marketplace.”
Revenue for the quarter ended December 31, 2010, increased 15% to $15.9 million, compared to $13.8 million for the same period in 2009. Net income for the fourth quarter was $1.6 million or $0.24 basic and $0.23 diluted earnings per share, compared with net income of $2.2 million or $0.34 basic and $0.33 diluted earnings per share, in the prior year period.
Revenue for the year ended December 31, 2010, was $63.4 million, compared to $57.7 million for the same period in 2009, an increase of 10%. Net income for the years ended December 31, 2010 and 2009, was $8.5 million or $1.28 basic and $1.26 diluted earnings per share.
In closing, Patrick E. Beans, chief financial officer of National Research Corporation, said, “The Company clearly diverted from historical patterns by reinvesting all its incremental earnings for the full year 2010 over 2009. To provide visibility related to the anticipated return on these investments, today we are announcing earnings guidance of $1.65 per dilutive share for the year ending December 31, 2011.”