Interactive Data's profit jumps on sales growth

Interactive Data Corp. of Bedford said today that its first-quarter profit jumped 26 percent as the financial data provider's core services for institutional customers enjoyed increased growth.

Net income for the three months ended March 31 rose to $32.3 million, or 33 cents per share, compared with $25.6 million during the same period a year earlier.

Three analysts surveyed by Thomson Financial predicted the company would earn 31 cents per share.

IDC said revenue increased to $181.7 million from $162.5 million a year earlier.

Revenue at the company's two biggest segments for institutional customers, Pricing and Reference Data, and Real-Time Services, grew 13.8 percent and 17.1 percent respectively.

"Overall our organic quarterly revenue growth of 8.7 percent, combined with prudent management of our business and the positive impact of certain one-time items, contributed to a 26.1 percent increase in both income from operations and net income," president and chief executive Stuart Clark (right) said in a statement.

IDC left its full-year revenue growth outlook of 7 to 9 percent unchanged.

The results appeared to leave investors wanting more. The stock fell $2.62, or 8.5 percent, to $28.38 in morning trading on the New York Stock Exchange. (AP)