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FactSet Research Systems Revenues Rise 22% during the Third Quarter of Fiscal 2008
Tuesday, June 17, 2008
Philip A. Hadley, Chairman and CEO said, “Given the difficult economic conditions, we are pleased to report revenue and operating income growth of 22%. Our healthy growth is indicative of a product suite that is highly integrated in the workflow of a global, blue chip client base..."
Norwalk, Connecticut – June 17, 2008 – FactSet Research Systems Inc. (NYSE: FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced its results for the third quarter of fiscal 2008.
For the quarter ended May 31, 2008, revenues increased to $147.4 million, up 22% compared to the prior year period. Income from operations for the third quarter rose to $47.9 million, up 22% from $39.2 million in the same period of fiscal 2007. Net income advanced to $32.5 million as compared to net income of $28.6 million a year ago. Diluted earnings per share increased to $0.65, up from $0.56 in the same period of fiscal 2007. In the third quarter last year, diluted earnings per share included income tax benefits of $1.9 million or $0.04 per share primarily from a tax deduction pertaining to fiscal 2006. The growth rates of net income and diluted earnings per share were also impacted by a 60% decline in other income to $0.9 million for the quarter ended May 31, 2008.
