ChoicePoint 1Q profit tumbles on charges

ChoicePoint earned $23 million, or 34 cents per share, compared with $30.9 million, or 40 cents per share, for the same quarter in 2007.

Earnings from continuing operations fell to $26.4 million, or 39 cents per share, from $29.6 million, or 38 cents per share, in the same quarter last year.

The recent quarter's results are based on 68.2 million outstanding shares, while the year-ago period's are based on 77.4 million.

Excluding certain operating charges, the company said it posted an adjusted profit from continuing operations of 43 cents per share, compared with 39 cents for the same period of 2007.

Total revenue rose 4.9 percent to $256.4 million from $244.5 million in the year-ago period.

Analysts polled by Thomson Financial expected a profit of 43 cents per share on $244 million in revenue.

First-quarter service revenue from continuing operations rose 5.5 percent to $252.9 million in 2008, while internal revenue, which is service revenue excluding revenue from acquisitions, from continuing operations increased 3.7 percent.

ChoicePoint said a 12 percent increase in internal revenue growth at its insurance services segment was offset by declines at the company's marketing and business services segments, resulting from tough economic conditions.