MSCI Q3 Profit Declines

(RTTNews) - MSCI, Inc. (MSCI), a provider of investment decision support tools, posted third-quarter net income of $51.7 million or $0.44 per share, down from $55.3 million or $0.46 per share in the year-ago quarter.

Income from continuing operation for the quarter grew to $51.7 million or $0.44 per share from $49.9 million or $0.42 per share in the prior-year quarter.

Adjusted net income for the latest third quarter rose to $59.2 million or $0.50 per share from $57.1 million or $0.47 per share in the prior year period.

On average,9 analysts polled by Thomson Reuters expected earnings per share of $0.49 for the quarter. Analysts' estimates typically exclude one-time items.

Operating revenues for the quarter grew 10.1 percent to $251.66 million from $228.61 million in the comparable quarter last year. Analysts estimated revenues of $252.73 million for the quarter.

The Board of Directors of MSCI declared a regular quarterly cash dividend, the first in the company's history, of $0.18 per share of common stock payable on October 31, 2014 to shareholders of record as of the close of trading on October 15, 2014. MSCI expects the initial annual dividend rate to be $0.72 per share.