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Modest Growth, Better Margins for ORC
US-based provider Opinion Research Corporation has announced improved results for the first quarter of 2006. Revenue, which declined in three of the previous four quarters, was up 2.4% versus Q1 2005 to $47.3m. Operating income from continuing operations rose more sharply to $753,000 from $393,000 last year.
Social research revenues were up from £33.9m to $34.7m and market research from $12.4m to $12.7m. The company said that in addition to increased operating income on increased revenues, a principal reason for the improved results in the quarter was the absence of refinancing costs incurred in the first quarter of 2005, offset in part by interest on subordinated debt issued in July 2005.
The operating income figure represents $0.14 per diluted common share, against $0.06 a year ago. Net income per diluted share was $0.11, increasing from $0.02 in the first quarter of 2005.
The company's year-on-year comparisons showed decline in each of the first three quarters of 2005, but returned to growth in the fourth quarter. ORC is online at www.opinionresearch.com .
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