Stock Watch: OneSource Gains on Prediction of Strong Q2

OneSource Information Services Inc. (Nasdaq: ONES) rose 1 1/2 Wednesday to 8 7/8 after the company, which provides financial information over the Internet, said results for the second quarter will be better than previously expected.

The Concord, Massachusetts-based company said it could break even in the quarter, compared with a loss of 25 cents per share in the same quarter last year. Revenue will be between $12.2 million and $12.5 million, up from $8.4 million.

“Our progress on OneSource’s path to profitability is a testament to the strength of our business model,” said President and Chief Executive Officer Dan Schimmel. The results, he said, “are primarily driven by greater-than-expected top-line growth fueled by new customers and improved gross margins, as well as lower-than-anticipated operating expenses.”

Results will be reported July 19th.

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