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IHS Inc. Reports Second Quarter 2013 Results

Stocks in this article: IHS

Second Quarter and Year-to-Date 2013 Revenue Performance

Second quarter 2013 revenue increased eight percent compared to the second quarter of 2012, and year-to-date 2013 revenue increased 10 percent compared to the same period of 2012. The components of revenue growth for these periods are described below by segment and in total.

  Increase in revenue
Second quarter 2013 vs. second quarter 2012   Year-to-date 2013 vs. year-to-date 2012
(All amounts represent percentage points) Organic   Acquisitive   Foreign

Currency

Organic   Acquisitive   Foreign

Currency

Americas 3 % 9 % % 3 % 8 % %
EMEA (1 )% 3 % (2 )% 1 % 4 % (1 )%
APAC 10 % 2 % (1 )% 12 % 4 % (1 )%
Total 3 % 7 % (1 )% 4 % 7 % %
 

The subscription-based business grew six percent organically compared to the second quarter of 2012, as described in the following table.

  Three months ended May 31,   Percent change   Six months ended May 31,   Percent change
(in thousands, except percentages)   2013   2012 Total   Organic 2013   2012 Total   Organic
Subscription revenue $ 313,923 $ 287,254 9 % 6 % $ 621,650 $ 560,644 11 % 7 %
Non-subscription revenue 104,220   99,905   4 % (6 )% 179,018   169,258   6 % (7 )%
Total revenue $ 418,143   $ 387,159   8 % 3 % $ 800,668   $ 729,902   10 % 4 %
 

Second Quarter and Year-to-Date 2013 Segment Performance

On a consolidated basis, IHS continued to deliver solid profit growth amid difficult economic conditions. At a segment level, EMEA results were negatively impacted by foreign currency movements and slowing revenue growth, and APAC results were adversely impacted by the timing of certain renewals and foreign currency movements, as well as continuing investment in the region’s infrastructure to support future growth. Segment results were as follows:

  • Americas. Second quarter revenue for the Americas increased $27 million, or 12 percent, to $258 million. Second quarter adjusted EBITDA for the Americas increased $16 million, or 17 percent, to $108 million. Second quarter operating income for the Americas increased $11 million, or 16 percent, to $80 million.Year-to-date revenue for the Americas increased $49 million, or 11 percent, to $487 million. Year-to-date adjusted EBITDA for the Americas increased $30 million, or 17 percent, to $202 million. Year-to-date operating income for the Americas increased $22 million, or 18 percent, to $142 million.
  • EMEA. Second quarter revenue for EMEA decreased $1 million, or one percent, to $113 million. Second quarter adjusted EBITDA for EMEA decreased $5 million, or 15 percent, to $27 million. Second quarter operating income for EMEA was down $4 million, or 15 percent, to $20 million.Year-to-date revenue for EMEA increased $9 million, or four percent, to $222 million. Year-to-date adjusted EBITDA for EMEA decreased $6 million, or 10 percent, to $51 million. Year-to-date operating income for EMEA decreased $8 million, or 19 percent, to $36 million.
  • APAC. Second quarter revenue for APAC increased $4 million, or 10 percent, to $48 million. Second quarter adjusted EBITDA for APAC decreased $1 million, or eight percent, to $11 million. Second quarter operating income for APAC decreased $1 million, or 11 percent, to $10 million.Year-to-date revenue for APAC increased $12 million, or 15 percent, to $91 million. Year-to-date adjusted EBITDA for APAC increased $1 million, or five percent, to $21 million. Year-to-date operating income for APAC increased $1 million, or three percent, to $20 million.

“Strong performance and operational execution in the Americas was offset by adverse foreign currency movements in EMEA that masked solid execution in the face of continuing economic challenges in the region,” said Key. “Foreign currency changes also negatively impacted overall performance in APAC as we continue to invest in the region to fully capture the growth potential.”

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