FactSet Research Fiscal 3Q Earnings Climb 18 Pct

NORWALK, Conn. (AP) — FactSet Research Systems Inc., which provides financial research and analytics, said Tuesday its fiscal third-quarter income climbed 18 percent on higher revenues and better margins, beating Wall Street expectations.

The company said earnings for the three months ended May 31 rose to $38.5 million, or 79 cents per share. FactSet earned $32.5 million, or 65 cents per share, in the same quarter last year.

Revenue grew 5 percent to $154.4 million.

Analysts surveyed by Thomson Reuters expected profit of 72 cents per share on $155.2 million in revenue.

FactSet said its operating margins and free cash flow rose during the quarter despite losing 34 clients. Client count stood at 2,033 on May 31, the company said.

FactSet added it plans to increase its head count by another 20 percent in fiscal 2009. In the third quarter, the company increased its head count by 400 employees to 2,550.

FactSet also issued fourth-quarter earnings guidance above analyst estimates.

In premarket activity, shares of FactSet climbed $2.58, or 5.1 percent, to $53.50. The stock has ranged from $31.15 to $67.96 over the past year.