WASHNGTON: FactSet Research Systems Inc. FDS, -5.31% posted solid earnings and revenue growth in the latest quarter as the financial-information provider continued to log user growth and benefited from its Portware LLC acquisition. For the August quarter, FactSet reported a profit of $144.3 million, or $3.55 a share, up from $62.2 million, or $1.48, last year.
Excluding certain items, FactSet reported adjusted earnings per share of $1.69, up from $1.51 last year. Revenue rose 9.7% to $287.3 million. In July, after completing the sale of its market-research business to GenStar Capital for $165 million, the company had guided for adjusted earnings in the range of $1.68 to $1.72 a share on $286 million to $292 million in revenue
FactSet in October completed its $265 million acquisition of Portware, an execution-management company whose products are used by asset managers. The acquisition helped earnings, excluding deal-related amortization, by 4 cents a share, the company said.
FactSet has seen stronger profit in recent quarters, helped by sharp revenue growth. Organic revenue, which excludes the Portware and Market Metrics deals and foreign currency effects, grew 8.8% in the quarter. The company, which offers databases of online financial and economic information, booked total user growth of 3.3% to 65,655. Client count rose by 17, bringing the tally to 3,092 at quarter end. FactSet’s shares, inactive premarket, have risen 17% over the past three months.
