August 22, 2008 / 1:58 PM / 10 years ago

UPDATE 1-SkillSoft Q2 profit beats Street, raises 2009 outlook

(Recasts; adds details, share movement)

Aug 22 (Reuters) - E-learning services provider SkillSoft Plc SKIL.O posted a better-than-expected quarterly profit, driven by strong performance in its core business, and raised its full-year outlook, sending its shares up 7 percent.

The company, whose clients include Xerox Europe, Capgemini, The Royal Berkshire and Hilton Hotels, posted net income of $12.9 million, or 12 cents a share, for the second quarter, compared with $12.4 million, or 11 cents a share, a year earlier.

Earnings from continuing operations stood at 10 cents a share. Revenue rose 17 percent to $83.3 million.

Analysts on average were expecting a profit of 7 cents a share, before items, on revenue of $82.2 million, according to Reuters Estimates.

For the fiscal year ending January 31, 2009, SkillSoft sees adjusted earnings of 35 cents to 38 cents a share, on revenue of $335 million to $338 million.

It had previously forecast adjusted earnings of 32 cents to 35 cents a share, on revenue of $329 million to $336 million.

It expects third-quarter adjusted earnings of 9 cents to 10 cents a share, on revenue of $84.0 million to $85.5 million.

Analysts were looking for earnings of 9 cents a share on revenue of $84.8 million for the third quarter.

Shares of the Nashua, New Hampshire-based company rose 72 cents to $10.61 in morning trade on Nasdaq. (Reporting by Sandhya Menon in Bangalore; Editing by Deepak Kannan)

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