IHS Inc. (NYSE: IHS), the leading global source of information and analytics, today reported results for the first quarter ended February 28, 2013.
- Revenue of $383 million, up 12 percent from the prior-year period
- Organic revenue growth rate of five percent overall, including eight percent for subscription-based business
- Adjusted EBITDA of $118 million, or 30.9 percent of revenue
- Non-GAAP earnings per diluted share (adjusted EPS) of $0.86, up 12 percent from the prior-year period
- Adjusted free cash flow of $112 million, up 47 percent from the prior-year period
Adjusted EBITDA, adjusted EPS, and adjusted free cash flow are non-GAAP financial measures used by management to measure operating performance. These terms are defined elsewhere in this release. Please see schedules appearing later in this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures.
First Quarter 2013 Financial Performance
|Three Months Ended||Change|
|(in thousands, except percentages and per share data)||February 28, 2013||February 29, 2012||$||%|
|Cash flow from operations||$||131,686||$||32,983||$||98,703||299||%|
|Adjusted free cash flow||$||112,319||$||76,427||$||35,892||47||%|
“The first quarter was a solid start to 2013 and a continuation of our steady performance amid a challenging macroeconomic environment,” said Jerre Stead, IHS chairman and chief executive officer. “We are achieving key milestones with regard to our infrastructure initiatives while at the same time investing significantly to capture our full commercial potential. We expect to exit 2013 better positioned than ever to deliver sustainable, profitable long-term growth.”