FactSet Research Systems Reports Q4 Results (FDS)

Connecticut-based, largest single source supplier of global economic and financial data to analysts, investment bankers and other finance professionals , FactSet Research Systems Inc. (NYSE: FDS) reported results for the fourth quarter ended Aug 31, 2012.

For the fourth quarter, FDS’s revenues increased by 8% to $207.66 million. Operating Income had increased by 20% to $70.627 million. Net income rose 19% to $48.539 million.

For fiscal 2012, FDS’s revenues rose by 11% to $805.793 million. Operating income climbed 15% to $272.99 million. Net income rose by 10% to $188.809 million. Net cash from operations for the year 2012 were $231.97 million.

The company’s annual subscription value (ASV) increased 7% annually to $843 million; of which 81% was derived from buy-side clients and the remainder from the sell-side firms who perform M&A advisory work and equity research.

FactSet’s top-line also benefited from the recent acquisition of informative news provider, StreetAccount LLC.

Operating earnings rose by 15%. The increase was mainly due to the proportional decrease in the operating expenses including selling, general and administrative expenses. In spite of increase in the other income by 175%, Net profit rose only by 10.4% annually because of the increase in the provision for income taxes by 26%.

As on Aug 31, 2012, FactSet had total assets of $694.14 million, including cash and its equivalents worth $203 million. Total liabilities were $141.88 million, among which 80% were current and the remaining was long term. Total Stockholders’ equity was $552.264 million, including $559.714 as Retained Earnings.

FDS repurchased 710,000 shares for $65.8 million during the fourth quarter and plans to buyback more in the years to come. The company also paid a quarterly dividend of $0.31 per share to its common stockholders of recorded as of August 31, 2012.

FDS shares are down sharply in trading today. At last check, the stock was trading 1.91% lower at $96.61.

Year-to-date, FDS shares have gained more than 10%, underperforming the S&P 500.