Dun & Bradstreet Corp (DNB) has reported a 48.33 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $15.50 million, or $0.42 a share in the quarter, compared with $30 million, or $0.82 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $35.20 million, or $0.95 a share compared with $43.20 million or $1.18 a share, a year ago.
Revenue during the quarter went up marginally by 1.73 percent to $381.50 million from $375 million in the previous year period. Total expenses were 89.28 percent of quarterly revenues, up from 85.81 percent for the same period last year. That has resulted in a contraction of 347 basis points in operating margin to 10.72 percent.
Operating income for the quarter was $40.90 million, compared with $53.20 million in the previous year period.
However, the adjusted operating income for the quarter stood at $67.20 million compared to $73.60 million in the prior year period.
"We had a nice start to 2017 with positive traction against key elements of our strategy, including the successful launch of D&B Hoovers and continued customer adoption of D&B Credit," said Bob Carrigan, chairman and chief executive officer of Dun & Bradstreet. "We remain focused on delivering our leading commercial data and insight through modern channels, which will help drive long-term sustainable growth."
For for fiscal year 2017, Dun & Bradstreet Corp forecasts adjusted revenue to grow in the range of 3 percent to 5 percent.
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