For the quarter ended May 31, 2015, revenues advanced to $254.5 million. Included in this total was $2.4 million from acquisitions completed since June 2014. Operating income was $85.4 million compared to $73.0 million in the year ago quarter. Net income was $61.4 million versus $51.5 million a year ago. Diluted earnings per share were $1.45 compared to $1.21 in the same period of fiscal 2014.
Adjusted operating income for the quarter increased 12.2% over the prior year. Adjusted operating income in the year ago third quarter excludes $3.0 million of pre-tax charges related to vesting of performance-based stock options and the settlement of a legal claim. Adjusted net income advanced 13.0% over the prior year and excludes income tax benefits of $1.4 million from finalizing prior years’ tax returns and other discrete items. Adjusted net income in the year ago quarter excludes $0.6 million in income tax benefits from finalizing tax returns and after tax expense of $2.1 million from the vesting of performance-based stock options and the settlement of a legal claim.
“Philip Hadley has led FactSet to new levels of growth and I look forward to the opportunity to lead as our next CEO,” added Phil Snow, President. “Our proven business model is supported by an experienced leadership group and I’m excited to focus on executing our future growth strategies.”“FactSet continued its strong performance during the third quarter as each key operating metric experienced healthy growth,” said Philip Hadley, Chairman and CEO. “Our ASV growth rate accelerated to 9%, our highest rate of growth in three years while our 14% EPS increase represented our 20th consecutive quarter of double-digit adjusted EPS growth. I am also excited for Phil Snow to become our next CEO on July 1st. He and the veteran FactSet management team are well positioned to lead the Company into our next phase of growth.”
FactSet, a leading provider of financial information and analytics, helps the world’s best investment professionals outperform. More than 50,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet’s desktop analytics, mobile applications, and comprehensive data feeds. The Company has been included in FORTUNE’s Top 100 Best Companies to Work For, the United Kingdom’s Great Places to Work and France’s Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS) (NASDAQ:FDS). Learn more at www.factset.com, and follow us on Twitter: www.twitter.com/factset.
– See more at: http://www.factset.com/news/20150616070000#sthash.trvac2jo.CRDd4al3.dpuf
Source: Factset Earnings Release