Morningstar Inc. saw a per-share profit in 2004 for the first time in five years, according to updated initial public offering documents the investment research firm filed Wednesday with the Securities and Exchange Commission, Dow Jones reports.

Chicago-based Morningstar, whose IPO will be launched via an auction process handled by W.R. Hambrecht, had net income of $8.8 million in 2004, or 21 cents a diluted share, compared to a net loss of $11.9 million, or a loss of 31 cents a share, in 2003. The last time the company produced net income in the last five years was in 2002. In that year, net income stood at $446,000, but stock-based compensation forced its diluted per-share to a loss.

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