, a provider of credit scoring systems, said its second-quarter profit dropped 21.4% from last year, affected by stock option expenses.
The Minneapolis, Minn.-based company earned $27 million, or 40 cents a share, in the quarter, compared with $34.3 million, or 45 cents a share, a year ago. The result included option expenses of 10 cents a share and costs related to an abandoned acquisition of 2 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 52 cents a share.
Second-quarter revenue rose 6.2% to $208.2 million as against analysts' expectation of $208.9 million.
The company expects to earn 44 cents a share in the third quarter, including 10 cents a share of options expense, on revenue of $210 million. Analysts' forecast earnings of 55 cents a share on revenue of $219.7 million.
For the full year, the company forecasts earnings of $1.75 a share, including 38 cents a share of options expense and 2 cents a share of cost related to an abandoned acquisition, on revenue of $836 million to $846 million, as against analysts' expectation of $2.17 a share, on revenue of $862.8 million.
"We are pleased with the year-over-year growth in earnings, excluding special items," the company said. "We had continued strong revenue performance from our Enterprise Decision Management (EDM) services, and consumer, scoring, and fraud products."
Shares fell $2.94 to $37.46.
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