UPDATE: FactSet Posts Higher FQ4 Profit

FactSet Research Systems

reported a rise in its fiscal fourth-quarter profit. The Norwalk, Connecticut-based company posted a quarterly profit of $55.4 million, versus a year-ago profit of $51 million. Its per-share earnings surged to $1.31 versus $1.16. Excluding special items, FactSet earned $1.43 per share, up from $1.18 per share in the year-ago period. Its revenue gained 9% to $238.7 million. FactSet Research in June expected earnings of $1.30 to $1.32 per share on revenue of $235 million to $240 million. However, analysts, on average, were expecting earnings of $1.30 per share on revenue of $236.99 million. FactSet's total operating expenses increased 7% to $159.3 million. US revenue jumped 6.5% to $161.2 million in the quarter, while non-US revenue jumped to $77.4 million. Its operating income surged to $79.4 million versus $70.5 million, while adjusted operating income climbed 8%. ASV totaled $963.6 million at August 31, 2014, a rise of 7.3% organically versus the year-ago period. As of August 31, FactSet's client count increased by 81 to 2,743. FactSet repurchased 619,993 shares for $74.7 million during the quarter. Philip Hadley, Chairman and CEO said, "I'm pleased with the continued acceleration on both the buy-side and sell-side as we closed this quarter. The just completed fourth quarter was one of our best quarters in the past decade as many of our financial and operating metrics rose across the board." For the current quarter, FactSet expects earnings of $1.31 to $1.33 per share on revenue of $240 million to $243 million. Analysts projected earnings of $1.34 per share on revenue of $241 million. FactSet shares fell 1.36% to close at $126.14 yesterday.