FactSet Research Systems Inc., a provider of integrated financial information and analytical applications to the global investment community, announced its results for Q4 and full year fiscal 2012: Revenues increased to $207.7 million, up 8% compared to the prior year. Included in this total was $1.8 million from the acquisition of StreetAccount on June 29, 2012.
Operating income for the fourth quarter rose to $70.6 million from $59.0 million in the same period of fiscal 2011. Net income advanced to $48.5 million compared to $40.9 million a year ago. Diluted earnings per share increased to $1.08, up from $0.88 in the same period of fiscal 2011.
“FactSet continues to generate shareholder value as illustrated by our double-digit EPS growth in the quarter,” says Philip Hadley, Chairman and CEO. “Investments in our products have helped us expand market share. We added 57 net new clients and 1,100 new users in the past three months. We were also pleased to acquire StreetAccount in June 2012, a leader in timely and informative news summaries for the investment community.”
Fiscal 2012 Highlights were as follows: 2012 Revenues increased 11% to $806 million. Diluted earnings per share rose 14% to $4.12. Free cash flow generated over the last twelve months was $209 million, up 18%. Accounts receivable decreased $1 million over the last twelve months while organic ASV is up $53 million over the same period, reflecting an improvement in DSO from 35 to 32 days. Users of FactSet advanced by 1,400 professionals since August 31, 2011. A net increase of 155 clients over the last twelve months compared to 127 last year. Employee count rose 9% to 5,735, up 484 employees from a year ago.
StreetAccount Acquisition: On June 29, 2012, FactSet acquired StreetAccount LLC (“SA”) to complement the Company’s news offering with distilled and crucial market moving information for buy-side and sell-side institutions. Founded in 2003, SA is known for its timely and informative news summaries and provides investment professionals with an efficient method for managing news flow. The StreetAccount service includes real-time company updates, portfolio and sector filtering, email alerts, and market summaries. Content is written by financial professionals and can be customized for portfolio, index, sector, market, time of day (i.e., Overnight Summaries), and category (i.e., Top Stories, Market Summaries, Economic, M&A). At the time of acquisition, SA had annual subscriptions of $11.4 million. The acquisition of SA did not have an impact on FactSet’s fourth quarter diluted earnings per share and is not expected to have a material impact on the Company’s fiscal 2013 diluted earnings per share.
Source: FactSet Earnings Release
