- The Washington Times - Wednesday, March 18, 2009

ENGLEWOOD, COLO. (AP) - IHS Inc., which provides information on energy and security to governments and large companies, said Wednesday its first-quarter profit climbed 27 percent, but widely missed Wall Street’s expectations.

Net income rose to $27.1 million, or 43 cents per share, in the first quarter, from $21.4 million, or 34 cents per share, in the year-ago period.

On average, analysts polled by Thomson Reuters expected fourth-quarter earnings of 54 cents per share.

Quarterly revenue gained 18 percent to $235.4 million from $198.8 million in the prior year. Wall Street analysts projected sales of $235.2 million.

IHS also trimmed its 2009 revenue outlook, saying it expects revenue to gain 12 percent to 16 percent in 2009 compared with the $844 million booked in 2008. That implies 2009 revenue of $945.3 million to $979 million.

In January, IHS had forecast revenue growth of 16 percent to 18 percent in 2009.

The company also reaffirmed its forecast for earnings before interest, taxes, depreciation and amortization to rise between 21 percent and 24 percent from 2008.

Company shares rose 81 cents, or 2.1 percent, to end at $39.48, and gained 2 cents in aftermarket trading.

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