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National Research Corporation Announces First Quarter 2011 Results

Stocks in this article: NRCI

National Research Corporation (NASDAQ:NRCI) today announced results for the first quarter 2011.

  • Quarterly revenue up 14% to $19.8 million
  • Quarterly net income up 10% to $3.5 million
  • Quarterly diluted earnings per share of $0.51, up 9%
  • Total Contract Value reaches $76.6 million, up 24%

Commenting on the first quarter results, Michael D. Hays, president and chief executive officer of National Research Corporation, said, “Against a strong comparable quarter in 2010, our first quarter of 2011 was very rewarding and set a number of records. We continue to achieve large increases in new sales as a result of the compelling value proposition of our subscription-based offerings, supported by investments made to expand our sales force. Our sales growth is also attributed to the Company’s unique position with a clear differentiated portfolio that directly meets the industry need, driven by healthcare reform, for cross-continuum expertise.

Revenue for the quarter ended March 31, 2011, was $19.8 million, compared to $17.4 million for the same quarter in 2010. Net income for the quarter ended March 31, 2011, was $3.5 million, or $.52 per basic and $.51 per diluted share, compared to $3.1 million for the first quarter 2010, or $0.47 per basic and diluted share.

In closing, Patrick E. Beans, chief financial officer of National Research Corporation, said, “As evidenced by our sales traction, subscription-based offerings are finding great market acceptance, even though such contracts often push revenue to outlying periods.”

A listen-only simulcast of National Research Corporation’s 2011 first quarter conference call will be available online at www.earnings.com on May 4, 2011, beginning at 11:00 a.m. Eastern time. The online replay will follow approximately one hour later and continue for 30 days.

National Research Corporation, headquartered in Lincoln, Nebraska, is a leading provider of performance measurement, improvement services, and governance education to the healthcare industry in the United States and Canada.

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