Reynolds & Reynolds

(REY)

said its earnings rose 19% in the first quarter and were unchanged in the second quarter.

During the first quarter ended Dec. 31, the company earned $25 million, or 39 cents a share, compared with $21 million, or 33 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 36 cents a share.

Revenue rose marginally to $240 million, the Dayton, Ohio-based company said.

During the second quarter ended March 31, the company earned 35 cents a share compared with 34 cents in the year-ago period. Net income was flat at $22 million. Analysts were expecting earnings of 38 cents a share.

Second quarter revenue fell 1.6% to $247 million.

The company expects earnings of 39 cents a share to 42 cents a share in the third quarter and $1.55 to $1.60 a share for the full year. Analysts were expecting the company to earn 37 cents a share in the third quarter and $1.50 a share for the full year.

The company also forecasts revenue to grow by 2% for the fiscal as compared with last year.

The company had previously delayed filing its financial reports pending completion of financial reports review by the Securities and Exchange Commission and management's review of its revenue recognition policy.

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