Interactive Data Corp. reports earnings

Interactive Data Corp. said that its first-quarter 2009 revenue increased 2.4 percent to $186.0 million from the first quarter of 2008, while net income for the first quarter of 2009 was $31.9 million, or $0.33 per diluted share, compared with net income of $32.3 million, or $0.33 per diluted share, a year ago.

Headquartered in Bedford, Interactive Data Corp. provides financial market data, analytics, and related solutions to financial institutions, active traders, and individual investors.

“We are pleased with our first-quarter 2009 results, especially in light of the unprecedented turmoil that is affecting our core institutional customers,” Ray D’Arcy, president and chief executive officer, said in a statement. “We produced organic revenue growth of 8.4 percent in the first quarter of 2009, although much of this expansion was offset by the effects of foreign exchange. Our organic revenue growth, combined with our diligence in containing costs, enabled us to drive a 13.0 percent increase in non-GAAP income from operations in the first quarter of 2009 even while absorbing higher non-cash expenses such as depreciation and certain one-time stock-based compensation costs. Net income for the first quarter of 2009 was also impacted by considerably lower interest income.”

The company said in a press release: "As a result of an increase in the anticipated impact from the effects of foreign exchange and lower-than-expected interest income, 2009 net income versus 2008 (on a percentage change basis) is now expected to decline in the low-to-mid single digit range. This compares with original guidance that called for 2009 net income to decline in the low single digit range."

To read the company's press release, please click here.
(By Chris Reidy, Globe staff)