Interactive Data posts decline in 2Q earnings

Associated Press

BEDFORD -- Interactive Data Corp. said that its second-quarter earnings fell 24 percent, largely because of an uptick in expenses related to its pending takeover by private equity firms.

The financial information provider booked a profit of $25.2 million, or 26 cents per share, for the three months ended in June. That's down from $33.1 million, or 34 cents per share, a year ago.

Revenue climbed 4.9 percent to $194 million, partly offset by an 18 percent jump in expenses.

Interactive Data announced in May that it had agreed to a $3.4 billion buyout offer from private equity firms Silver Lake and Warburg Pincus. It recorded $11.9 million in costs related to the deal.

The company's stock rose 5 cents to $33.72 in morning trading.