Dolan Media reports fourth-quarter gains

Revenue $152.0 $111.6 +36.1 Income* -54.0 -20.3 -- Earn/share -3.41 -2.19 -- Figures in millions except for earnings per share.

* Adjusted EBITDA for the fourth quarter and 12 months ended Dec. 30 was $10.7 million and $43.1 million, respectively, compared with $6.7 million and $28.8 million for the same periods in 2006.

Dolan Media Co., the legal and real estate journal publisher, reported fourth-quarter net income of $3.13 million as sales advanced, and the company forecast full-year revenue that may top analysts' average estimate.

Net income was 12 cents a share, compared with a loss of $3.33 million, or 36 cents, a year earlier, Minneapolis-based Dolan Media said Thursday. Sales rose 27 percent to $40.9 million.

The company forecast sales of as much as $41 million in the first quarter and $168 million to $178 million for the year. Analysts estimated full-year sales of $175.4 million, the average of four projections in a Bloomberg survey.

"We are well-positioned to benefit from our balanced revenue mix across the business information and professional services divisions," Chief Executive James Dolan said in a prepared statement. "A little over half of our total revenues are from sources counter-cyclical to the economy."

Dolan Media gained 10 cents, or less than 1 percent, to close at $24. The earnings were released after the market closed.