FactSet Research Systems Inc. Posts Higher Q3 Results; Meets EPS Views (FDS)

Before the opening bell on Tuesday morning, Factset Research Systems (FDS) reported its third quarter results, posting gains in earnings and revenue over last year’s Q3.

FDS’s Earnings in Brief

Factset reported third quarter revenues of $231.76 million, which are up 8% from last year’s Q3 revenues of $214.61 million. The company’s adjusted net income was up 6% to $53.1 million from $50.1 million reported last year. Adjusted EPS for the quarter came in at $1.25, marking an 11% improvement over last year’s Q3 EPS of $1.13. Factset’s EPS met analysts’ estimates, while revenues were slightly above expectations of $230.57 million. Looking ahead to next quarter, FDS sees EPS in the range of $1.30-$1.32 on revenue in the range of $235 million to $240 million. Analysts are looking for EPS of $1.29 on revenues of $235.6 million.

CEO Commentary

FDS chairman and CEO Philip Hadley had the following comments: “I’m pleased to see that our ASV growth rate accelerated to 7% and adjusted EPS grew by 11% in the just completed third quarter. We continued to capitalize on our opportunities as evidenced by adding 30 net new clients and 620 net new users in the past three months. I’m also excited to announce that Phil Snow has accepted the role as President, effective July 1st.”

FDS’s Dividend

Factset Research Systems recently raised its dividend by 11% to 39 cents from 35 cents per quarter. The company’s next dividend is payable today to all shareholders of record on May 30.

Stock Performance

FDS stock was inactive in pre-market trading. YTD, the stock is up 4.18%.

FDS Dividend Snapshot

As of Market Close on June 16, 2014

Click here to see the complete history of FDS dividends.