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FactSet Research Systems Reports ASV Growth Of $25 Million For The Fourth Quarter Of Fiscal 2013

  • ASV advanced $25 million, up 6% excluding currency
  • Adjusted EPS was $1.20, up 11%
  • Free cash flow was $71 million, up 38%

NORWALK, Conn., Sept. 17, 2013 (GLOBE NEWSWIRE) -- FactSet Research Systems Inc. (NYSE:FDS) (Nasdaq:FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced its results for the fourth quarter of fiscal 2013.

For the quarter ended August 31, 2013, revenues increased to $219.3 million, up 6% over the prior year. Operating income was $70.5 million compared to $70.6 million in the year ago quarter. Net income was $51.0 million versus $48.5 million a year ago. Diluted earnings per share was $1.16 compared to $1.08 in the same period of fiscal 2012.

Adjusted operating income for the quarter was $73.2 million, up 4% over the prior year. Adjusted operating income excludes a non-cash pre-tax charge of $2.6 million for stock-based compensation primarily related to vesting of performance-based options granted in connection with the acquisition of StreetAccount in June 2012.

Adjusted net income increased 9% to $52.8 million, while adjusted diluted EPS grew 11% to $1.20. Adjusted net income and diluted EPS both exclude the after-tax stock-based compensation charge of $1.9 million or $0.04 per diluted share.

A reconciliation between GAAP and adjusted financial measures is presented on page 8 of this press release.
(Condensed and Unaudited)     Three Months Ended August 31,
(In thousands, except per share data) 2013 2012 Change
Revenues $219,332 $207,663 6%
Adjusted operating income $73,173 $70,627 4%
Adjusted net income $52,840 $48,539 9%
Adjusted diluted earnings per share $1.20 $1.08 11%
Diluted weighted average shares 44,043 45,152  

"We are excited to report fourth quarter results that include ASV growth of $25 million and adjusted EPS growth of 11%. FactSet accelerated from growth in all geographies and across each user vertical," said Philip Hadley, Chairman and CEO. "We continue to expand the depth and breadth of our product suites and invest to capture an attractive forward opportunity, as evidenced by our employee growth this quarter."

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