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NeuStar Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 5, 2012 10:11PM
NeuStar Inc. (NSR) filed Quarterly Report for the period ended 2012-09-30. Neustar, Inc. has a market cap of $2.5 billion; its shares were traded at around $36.8 with a P/E ratio of 16.7 and P/S ratio of 4. Neustar, Inc. had an annual average earning growth of 10.4% over the past 5 years.
Highlight of Business Operations:During the third quarter we continued to experience increased demand for our services. Total revenue for the quarter increased 38% as compared to the third quarter of 2011. Of this 38% increase in revenue, our newly formed Information Services segment contributed 28%, while Carrier Services contributed 7% and Enterprise Services contributed 3%. We believe that this performance demonstrates our successful expansion into real-time information and analytics services and the increased demand for our promote and protect services across each of the markets we serve.
Carrier Services revenue grew 10% as compared to the third quarter of 2011, driven by a 12% increase in the fixed fee established under our contracts to provide NPAC services. During the quarter, we also saw increased demand for our Enterprise Services, resulting in a 14% year-over-year growth in revenue. In particular, revenue from Registry Services grew 16% compared to the third quarter of 2011 due to continued growth in the number of common short codes and domain names and under management and an increase in revenue from system enhancements. Additionally, Internet Infrastructure Services, or IIS, revenue grew 12% year-over-year due to increased demand for our managed domain name systems, or DNS, solutions.
In the third quarter of 2012, we revised our estimate of achievement of the performance target related to the PVRSUs granted during 2012 from 100% of target to 130% of target. Our consolidated net income for the three and nine months ended September 30, 2012 was $45.8 million and $118.3 million, respectively, and diluted earnings per share was $0.68 and $1.74 per share, respectively. If we had continued to use the previous estimate of achievement of 100% of the performance target for PVRSUs granted during 2012, the as adjusted net income for the three and nine months ended September 30, 2012 would have been approximately $46.3 million and $118.8 million, respectively, and the as adjusted diluted earnings per share would have been approximately $0.69 and $1.75 per share, respectively.
The following table presents a summary of our operating segments revenue, contribution and the reconciliation to income from operations for the three months ended September 30, 2011 and 2012 (in thousands):
The following table presents a summary of our operating segments revenue, contribution and the reconciliation to income from operations for the nine months ended September 30, 2011 and 2012 (in thousands):
Stocks Discussed: NSR,