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Thomas Nelson Beats Q3 Earnings Estimates By A Penny - Update

(RealTimeTraders.com) - Thursday before the bell, Thomas Nelson, Inc. (TNM), a publisher of books, announced third quarter financial results, reporting earnings that beat the estimates by a penny and rose year-over-year on increased revenues.

The company reported net income for the quarter of $3.9 million, an increase of 59%, compared to $2.5 million in the year-ago quarter. On a diluted basis, earnings were $0.26 a share, in comparison to $0.17 a share in the same period last year.

On average, 2 analysts polled by First Call/Thomson Financial expected the firm to earn $0.25 a share for the quarter.

Thomas Nelson’s quarterly revenues rose 4% to $56 million from $53.8 million posted in the same quarter last year.

On Wednesday, shares of TNM ended at $26.59.

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