D&B (DNB) said Thursday its third-quarter earnings rose 44% from the year-ago period, owing to reduced income tax.
The Short Hills, N.J.-based provider of business information and tools, earned $45.8 million, or 72 cents a share, in the quarter, compared with $31.7 million or 46 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of $52.47 million, or 82 cents a share.
The rise in profit compared to last year was aided by cash repatriation and the resolution of a tax issue.
Third-quarter revenue rose 5% from a year ago to $359.2 million as against analysts' expectation of $363.2 million.
Third-quarter operating income declined 3% from a year ago to $76.5 million and operating margin decreased to 21.3% from 23.2%, a year ago.
The company expects its earnings of $3.96 a share for the full year, compared with analysts' expectations of $3.93.
The company's shares closed down 38 cents at $76.29 Thursday.
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