Broadridge Financial Solutions and Gartner in Investing Spotlight Post Earnings
Broadridge Financial Solutions Inc. (NYSE:BR) reported its results for the second quarter. Net income for Broadridge Financial Solutions Inc. fell to $6.8 million (5 cents per share) vs. $10.4 million (8 cents per share) a year earlier. This is a decline of 34.6% from the year earlier quarter. Revenue rose 8.5% to $479.8 million from the year earlier quarter. Broadridge Financial Solutions Inc. reported adjusted net income of 12 cents per share. By that measure, the company fell in line with the mean estimate of 12 cents per share. It fell short of the average revenue estimate of $498.7 million.
Richard J. Daly, Chief Executive Officer, said, “Overall, I am satisfied with our second quarter results. The core recurring revenues of the business are solid, recurring revenue closed sales are strong and our client revenue retention rate remains excellent. We did not include any significant improvement in event-driven revenues in our previous guidance, and we have not seen any such improvement to date as this activity still remains weak in this economic environment.”
Competitors to Watch: ExlService Holdings, Inc. (NASDAQ:EXLS), Thomson Reuters Corp. (NYSE:TRI), DST Systems, Inc. (NYSE:DST), CoreLogic Inc. (NYSE:CLGX), WNS (Holdings) Ltd. (NYSE:WNS), Morgan Stanley (NYSE:MS), Stream Global Services, Inc. (AMEX:SGS), Sykes Enterprises, Inc. (NASDAQ:SYKE), and Innotrac Corporation (NASDAQ:INOC).
Gartner Inc. (NYSE:IT) reported its results for the fourth quarter. Net income for the management services company rose to $45 million (46 cents per share) vs. $36.7 million (37 cents per share) in the same quarter a year earlier. This marks a rise of 22.7% from the year earlier quarter. Revenue rose 11.9% to $427.7 million from the year earlier quarter. Gartner Inc. fell short of the mean analyst estimate of 47 cents per share. Analysts were expecting revenue of $428.2 million.
Gene Hall, Gartner’s chief executive officer, commented, “We achieved record levels of new business and contract value, maintained strong client and wallet retention, and many of our other key business metrics continued their strong performance during the fourth quarter. We delivered double-digit revenue, Normalized EBITDA, EPS, and operating cash flow growth for the full year 2011. As we look ahead to 2012, we are excited about the opportunity we see in the market, and we expect to deliver another year of double-digit growth as measured by our key business metrics.”
Competitors to Watch: Forrester Research, Inc. (NASDAQ:FORR), Microsoft Corporation (NASDAQ:MSFT), Google Inc. (NASDAQ:GOOG), Intl. Business Machines Corp. (NYSE:IBM), Nielsen Hldg NV (NYSE:NLSN), Navigant Consulting, Inc. (NYSE:NCI), Information Services Group, Inc. (NASDAQ:III), Harris Interactive Inc. (NASDAQ:HPOL), and Apple Inc. (NASDAQ:AAPL).
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