RiskMetrics Group (NYSE:RMG), a leading provider of risk management and corporate governance products and services to participants in the global financial markets, today announced its financial results for the first quarter ended March 31, 2009.
- First quarter 2009 revenues increased 8.7% to $77.4 million.
- First quarter 2009 Adjusted EBITDA increased 26.5% to $29.4 million, with an Adjusted EBITDA margin of 37.9%.
- GAAP EPS for first quarter 2009 was $0.13, up from $0.01 in the prior year. EPS excluding one-time costs for first quarter 2009 was $0.14.
- Adjusted EPS (before amortization of intangibles, one-time costs, and stock-based compensation) for first quarter 2009 was $0.21, up from $0.13 in first quarter 2008.
"We grew revenue by 8.7%, achieved Adjusted EBITDA growth of 26.5% and delivered Adjusted EBITDA margin expansion of 530 basis points against the backdrop of a still difficult financial market," said Ethan Berman, Chief Executive Officer of RiskMetrics Group. Mr. Berman continued, "Revenue growth has slowed however due to declining new sales and a decrease in our renewal rate to 83.5%."
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