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Rating:Morningstar Misses Earnings Estimates  Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 28, 2010

Morningstar Misses Earnings Estimates

Reported by Armie Margaret Lee

Morningstar, Inc. reported consolidated revenue of $139.8 million in the third quarter of 2010, a 16.4 percent increase from $120.1 million in the third quarter of 2009.

Consolidated operating income was $30.2 million in the third quarter of 2010, a decrease of 10.5 percent compared with $33.7 million in the same period a year ago. The company's net income was $20.8 million, or 41 cents per diluted share, compared with $22.5 million, or 45 cents per diluted share, in the third quarter of 2009.

Analysts expected the company to earn 47 cents a share, according to Thomson Reuters I/B/E/S.

Excluding acquisitions and the impact of foreign currency translations, Morningstar's revenue rose 6.6 percent. Third-quarter results included $12.0 million in revenue from acquisitions. 

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