IHS Beats, Names New CEO

The supplier of information to the energy, defense and aerospace industries also issues upside guidance.
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IHS

(IHS)

beat third-quarter earnings estimates by a penny on increased growth in the company's energy and engineering segments.

The supplier of tools and information to the energy, defense and aerospace industries said Thursday that revenue for the quarter ended Aug. 31, totaled $139.9 million, or an increase of 19% from the year-ago quarter; analysts were expecting sales of $132.5 million.

Net income for the quarter increased $12.4 million from a year ago to $16.1 million, or 28 cents a share, from 7 cents a share last year. That beats the analysts' consensus of a profit of 27 cents.

Excluding items, IHS posted income of $29.1 million for the third quarter, up 37% from $21.2 million in the third quarter of 2005.

IHS revised its full-year 2006 revenue guidance in the range of 11.5% to 12.5%. The company further expects non-GAAP earnings growth of 28% to 31% for fiscal 2006

The Englewood, Colo.-based company in a separate announcement said that Jerre Stead, currently executive chairman of the board, will also become CEO, effective Thursday. He replaces Charles Picasso, who is retiring.

Shares of IHS closed the regular session up 62 cents to $31.82.