FactSet shares jump after 4Q results, outlook

FactSet shares jump after company offers upbeat 4th-quarter results and outlook

• On 11:20 am EDT, Tuesday September 22, 2009

NORWALK, Conn. (AP) -- Shares of FactSet Research Systems Inc. hit a new 12-month high Tuesday after the company reported higher fiscal fourth-quarter earnings and gave an upbeat financial outlook

The company, which provides financial research and analytics, reported a profit of $36.3 million, or 74 cents per share, for the three months ended Aug. 31. That's up 8 percent from a profit of $33.6 million, or 67 cents per share, a year earlier. Earnings matched the average estimate from analysts in a Thomson Reuters poll.

Sales edged up 1 percent to $155.5 million from $153.7 million, while analysts were expecting $154 million.

"It is premature to call a long-term recovery for our industry," CEO Philip A. Hadley said in a statement. "But we believe we may be seeing an encouraging step in the right direction."

Full-year earnings came to $145 million, or $2.97 per share, up 16 percent from $125 million, or $2.50 per share. Sales for the year climbed 8.1 percent to $622 million from $575.5 million.

Looking ahead, FactSet said it expects fiscal first-quarter earnings of 73 cents to 75 cents per share on sales of $152 million to $157 million. Analysts were anticipating 71 cents on $152.2 million.

FactSet shares were up $4.26, or 6.8 percent, to $66.61 in morning trading. Earlier in the day they set a 12-month high of $68.86. The stock had traded between $31.15 and $62.89 over the past year.

Buzz up!