Dun & Bradstreet 2Q profit rises, beats Street

Dun & Bradstreet 2Q profit up 2 percent, lifted by growth in Asia; beats Wall Street's view

Associated Press

SHORT HILLS, N.J. (AP) -- Credit and business data provider Dun & Bradstreet Corp. said Wednesday that its second-quarter net income rose 2 percent, helped by a strong performance in Asia.

For the period ended June 30, profit came to $57.5 million, or $1.44 per share. That's up from $56.5 million, or $1.20 per share, in same months a year ago. The company's per-share earnings got a bigger boost because its stock outstanding shrank by 15 percent. Dun & Bradstreet spent $162 million buying back 1.7 million shares during the quarter.

Excluding restructuring charges and costs related to an investigation and shutdown of a business in China last year, earnings were $1.53 per share, 2 cents better than Wall Street predicted.

In May 2012 Dun & Bradstreet announced that it would close its Shanghai Roadway D&B Marketing Services Co. business in China. The company suspended operations two months earlier over allegations that it breached consumer privacy laws.

The Short Hills, N.J., company's revenue edged up 1 percent to $386.4 million, meeting the expectations of analysts surveyed by FactSet. Sales were unchanged at $279 million in North America, Dun & Bradstreet's biggest region. Revenue in the company's Asia division rose 6 percent to $49.3 million and was flat at $58 million in the unit containing Europe and the company's other international markets.

Dun & Bradstreet kept its earnings outlook for the year, which brackets analysts' average estimate.

Shares fell $1.39, or 1.3 percent, to $104.42 in morning trading Wednesday. The stock has gained 35 percent this year.

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