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National Research Corporation Announces Fourth Quarter And Year-End 2013 Results

Stocks in this article: NRCIA NRCIB

LINCOLN, Neb., Feb. 11, 2014 (GLOBE NEWSWIRE) -- National Research Corporation (Nasdaq:NRCIA) (Nasdaq:NRCIB) today announced results for the fourth quarter and year-end 2013.

Fourth Quarter

  • Net new sales of $6.4 million
  • Revenue up 4% to $22.9 million
  • Operating income up 4% to $6.0 million

Year- E nd 201 3

  • Total contract value of $102.3 million
  • Revenue up 7% to $92.6 million
  • Operating income up 9% to $24.8 million
  • Combined diluted earnings per share of $0.63, up 2%

Remarking on company performance, Michael D. Hays, chief executive officer of National Research said, "Net new sales were at record levels for the second quarter in a row. In fact, the last half of 2013 registered a 36% increase in net new sales over the first half of 2013. While this positive sales performance will grow revenue in 2014, given our subscription-based business model, such performance did little to drive revenue growth in 2013 which ended the year at 7%."

Revenue for the quarter ended December 31, 2013, was $22.9 million, compared to $22.0 million for the same quarter in 2012. Net income for the quarter ended December 31, 2013, was $3.8 million, compared to $3.7 million for the quarter ended December 31, 2012. A combined diluted earnings per share was $0.15 for both quarters ended December 31, 2013, and 2012.

Revenue for the year ended December 31, 2013, increased to $92.6 million, compared to $86.4 million for the same period in 2012. Net income for the year ended December 31, 2013, was $15.5 million, compared to $15.1 million for the year ended December 31, 2012. Combined diluted earnings per share increased to $0.63 for the year ended December 31, 2013, from $0.62 for the year ended 2012.

Regarding the company's annual performance, Kevin Karas, chief financial officer of National Research said, "We continued to increase our operating income margin during 2013, to 27% of revenue for the full year. With our growth in total contract value to $102.3 million, we expect to realize continued leverage of our revenue growth and margin expansion in 2014."

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