The Dolan Company Beats Estimates (DM)

The Dolan Company DM released financial results on Wednesday morning that beat Wall Street estimates. The Dolan Company announced that its 3rd quarter net income rose to $9 million, or 30 cents per share, up from $5.9 million, or 20 cents per share, a year earlier. Excluding special items, cash earnings per diluted share were 41 cents per share. Revenue climbed 25.8% to $78.46 million, up from $62.34 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 27 cents per share, on revenue of $75.8 million. Chairman, president and chief executive officer James P. Dolan said, "Our diversified business model served us well in the third quarter, allowing us to deliver more than 25% revenue growth and greater than 40% cash EPS growth amid a challenging business environment. For the quarter, our professional services division revenues grew by 40.9% on the strength of both our DiscoverReady and NDeX businesses." The Dolan Company (DM) finished the previous trading day at $11.06 per share. The consensus price target of analysts covering the company's stock is $16 per share. Read more from Benzinga's Company news.