FactSet a provider of integrated financial information, analytical applications, and industry-leading service, announced its results for the fourth quarter ended August 31, 2017.
Fourth Quarter 2017 Highlights
- Revenues increased 13.7% or $39.4 million to $326.6 million compared with $287.3 million for the same period in 2016. Organic revenues grew 6.3% to $301.3 million during the fourth quarter of 2017 from the prior year period.
- Operating margin decreased to 25.2% compared to 30.5% in the prior year period. The decrease in operating margin is primarily related to $11.2 million in restructuring actions initiated by the Company and modifications to certain share-based compensation grants. Adjusted operating margin decreased to 31.2% compared with 33.4% in the prior year period.
- Diluted earnings per share (“EPS”) decreased to $1.52 compared with $3.55 for the same period in 2016. The prior period diluted EPS included a one-time gain of $2.01 from the sale of the Market Metrics business. Adjusted diluted EPS for the fourth quarter rose 12.4% to $1.90.
Full Year 2017 Highlights
- ASV rose to $1.32 billion, up 5.7% organically.
- Revenues increased 8.3% to $1.22 billion, up 6.9% organically.
- Adjusted diluted EPS increased 14.2% to $7.31.
- Free cash flow totaled $283.7 million.
“We closed fiscal 2017 with solid ASV growth. We expanded our product portfolio with exciting new acquisitions in key growth areas such as analytics and wealth. As we look ahead to fiscal 2018, we are focused on gaining further value from our acquisitions and growing our core business,” said Phil Snow, FactSet CEO.
Source: FactSet Press Release
