March 22, 2012 / 10:46 AM / in 6 years

UPDATE 1-IHS posts lower profit as costs rise

March 22 (Reuters) - IHS Inc, which provides business information and analysis for a wide array of sectors, posted a lower first-quarter profit as higher costs and restructuring charges took the gloss off a 17 percent jump in revenue.

The publisher of the Jane’s Defence Weekly forecast earnings for the year to be largely in line with estimates. It sees 2012 adjusted earnings between $3.84 and $4.01 a share on revenue of $1.52 billion to $1.57 billion.

Analysts were expecting 2012 earnings of $3.97 a share on revenue of $1.53 billion, according to Thomson Reuters I/B/E/S.

For the first quarter, net income fell to $23 million, or 35 cents per share, from $32 million, or 49 cents per share, a year ago.

Excluding items, the company earned 77 cents per share.

Revenue for the quarter rose to $343 million from $293 million a year ago.

The company recorded about $7.5 million in restructuring charges in the first quarter as it consolidates its legacy data centers.

Analysts, on average, were looking for first-quarter earnings of 81 cents per share on revenue of $356.6 million, according to Thomson Reuters I/B/E/S.

Separately, the company said it acquired private research firm IMS Research, which caters to the electronics industry, for about $46 million.

Shares of the Englewood, Colorado-based company closed at $97.46 on Wednesday on the New York Stock Exchange.

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