Broadridge Financial Solutions Inc.
(BR) reported fiscal fourth-quarter earnings of 83 cents per share, topping the Zacks Consensus Estimate by more than 5%.

Revenue decreased 7% to $736.5 million, primarily due to lower distribution revenues coupled with unfavorable impact of foreign currency exchange rates.

Meanwhile, Broadridge expects earnings for the fiscal year ending June 2010 to range between $1.50 and $1.60 per share.

The guidance is in-line with the Zacks Consensus Estimate of $1.51 per share, which is down 2 cents over the past 2 months.

The company also announced that its board has authorized buyback of up to 10 million shares in order to offset share dilution created by equity compensation plans.

BR, a Zacks #3 Rank (“Hold”) stock, has advanced more than 5% on higher-than-usual volume of about 832,000, compared to the average daily volume of approximately 742,000.

“BR” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research