As a reminder, this conference call is being recorded and webcast and is the copyrighted property of IHS. Any rebroadcast of this information, in whole or in part, without the prior written consent of IHS is prohibited.Please keep in mind that this conference call, especially the discussion of our outlook may contain statements about expected future events that are forward-looking and subject to risks and uncertainties. Factors that could cause actual results to differ and vary materially from expectations can be found in HIS’ filings with the SEC and on the IHS website. With that, it is my pleasure to turn the call over to Jerre Stead, IHS Chairman and CEO. Jerre? Jerre Stead Thank you, Andy. Good morning, welcome and a very happy New Year to all of our investors and to my IHS colleagues. It is a great pleasure this morning to share with you our outstanding results from the fourth quarter and for the full year of 2011. Before I do, I must begin with a real heartfelt thank you to my IHS colleagues around the world. The performance I am about to share with you is the direct result of the outstanding team work in collaboration displayed by each of my colleagues. I am very proud to be part of this team. I will start with the quarterly financial highlights. Revenue was up 27% in the fourth quarter. Adjusted EBITDA increased by 33% and our adjusted EBITDA margin was 32.1%, the highest in our company’s history. The absolute dollar levels for Q4 revenue and profit were both company records. Q4 proved to be exactly what we thought it would be, accelerating organic growth on the top line, accompanied by meaningful margin expansion. Our fourth quarter performance is a fitting capstone on a year characterized by focus and performance. In early November of 2010, we shared our vision for what we would accomplish in 2011. Since then, the world has seen many economic events that certainly have presented challenges for businesses around the world. Despite these global economic challenges we actively managed IHS to ensure that we continue to make the right investment decisions to drive strong profitable growth and to deliver ever better insight, information, and analytics to our customers around the globe every day. Therefore I am proud to share with you these annual results.
Revenue was up 25%. Adjusted EBITDA increased by 26% and our adjusted EBITDA margin was 30.2%, up from last year, despite the significant levels of investment in infrastructure that we have made during 2011. This performance is the direct outcome of the following.A clear vision of what we are building and an intense focus on the four objectives we set for ourselves this year and relentless execution while adapting our priorities to changing market conditions throughout the year. Scott Key, our President and COO and Rich Walker, our EVP and CFO would provide more details shortly. As you know, we have four company objectives, colleagues’ success, customer delight, profitable top and bottom line growth, and shareowner success relative to our peer group. Execution of these objectives drove solid results. The foundation of this performance is the engagement of our colleagues in the level of customer delight. During 2011, 97% of our colleagues participated in our annual engagement survey, providing us with a clear view of actions and experiences that most affect our commitment and performance at IHS. Our colleague engagement score for 2011 was 59% and represents a recalibration of our baseline with a new third party survey firm that offers an excellent set of analytics and benchmarks as we move to a new level of excellence. We have achieved world class performance in a number of important areas including the value colleagues derive from their work and the freedom of flexibility they have in delivering value to our customers. Importantly, we saw best in class levels in impact that our colleagues are having with customers as a result of increased colleague collaboration at IHS in creating value. Read the rest of this transcript for free on seekingalpha.com