Broadridge Financial Solutions Earnings Cheat Sheet: Second Straight Quarter of Increasing Profit

Broadridge Financial Solutions, Inc. (NASDAQ:BR) reported its results for the fourth quarter. Broadridge Financial Solutions Inc. is a global provider of investor communication, securities processing, and clearing and outsourcing solutions to the financial services industry.

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Broadridge Financial Solutions Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Broadridge Financial Solutions, Inc. rose to $116.2 million (92 cents per share) vs. $105.1 million (76 cents per share) in the same quarter a year earlier. This marks a rise of 10.6% from the year earlier quarter.

Revenue: Rose 3.3% to $776.1 million from the year earlier quarter.

Actual vs. Wall St. Expectations: BR beat the mean analyst estimate of 91 cents per share. Analysts were expecting revenue of $771 million.

Quoting Management: Richard J. Daly, Chief Executive Officer, said, “Overall, I am satisfied with our results for the quarter but disappointed with the full year results because of the previously discussed decline in event-driven revenues from their unprecedented high levels in fiscal year 2010. Our core business remains strong and has performed within expected ranges. Clear indicators of our core strength are our continuing 99% client revenue retention rate and the predictability of our core recurring revenues which continue to perform within our forecasted ranges.”

Key Stats:

The company has now beaten estimates the last two quarters. In the third quarter, it topped expectations with net income of 25 cents versus a mean estimate of net income of 19 cents per share.

Net income has dropped 19.8% year over year on average across the last five quarters. Performance was hurt by a 69% decline in the second quarter from the year earlier quarter.

The company’s revenue has now risen for two straight quarters. In the third quarter, revenue increased 7.4% to $527.1 million from the year earlier quarter.

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).

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(Source: Xignite Financials)

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