2.40%C 7.82 8.31%UYG 5.47 10.28%
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NEW YORK - MCSI Inc., which provides investment decision support tools, said Thursday its third-quarter income fell nearly 12 percent as higher expenses offset revenue growth.
| MXB | 15.49 |  0.63 |
MCSI said its profit for the quarter ended Aug. 31 slid to $18.9 million, or 19 cents per share, from $21.4 million, or 25 cents per share, in the same quarter last year.
Revenue jumped more than 19 percent to $110.4 million from $92.4 million.
The results missed Wall Street expectations. Analysts surveyed by Thomson Reuters expected third-quarter earnings of 26 cents per share on $110.8 million in revenue.
MSCI said the lower profit reflected higher compensation expenses, higher interest costs and a "founders grant" expense in the most recent quarter.
The founders grant, which was approved last November, was a stock and options award to its employees worth $68 million, the company said.
Shares of MCSI fell 10 cents to $22 in afternoon trading.
U.S. stocks fell on Wednesday after signs of weakening employment and a contraction in service industries overcame earlier gains in the trading s...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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