Net income down 1.1% to $31.94m
Interactive Data, a provider of financial market data, analytics and related solutions, has reported a net income attributable to the company of $31.94m, or $0.33 per diluted share, for the first quarter ended March 31, 2009, a decrease of 1.1% compared to $32.3m, or $0.33 per diluted share, for the same quarter of 2008.
For the first quarter of 2009, revenues were $186.03m, an increase of 2.4% compared to $181.71m for the same quarter of 2008. Income from operations was $48.33m, a decrease of 1.2% compared to $48.94m for the same quarter of 2008.
Ray D’Arcy, president and CEO of Interactive Data, said: We produced organic revenue growth of 8.4% 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% 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.