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FactSet Research Systems Revenues Rise 19 Percent for the Fourth Quarter of Fiscal 2008
Tuesday, September 23, 2008
FactSet Research Systems Inc. today announced its results for the fourth quarter of fiscal 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 fourth quarter of fiscal 2008.
For the quarter ended August 31, 2008, revenues rose to $153.7 million, an increase of 19% compared to the prior year. Income from operations for the fourth quarter advanced to $50.2 million, up 18% from $42.7 million in the same period of fiscal 2007. Net income rose to $33.6 million as compared to $30.7 million a year ago. Diluted earnings per share increased to $0.67, up from $0.60 in the same period of fiscal 2007. In the fourth quarter last year, diluted earnings per share included a tax benefit of $1.1 million or $0.02 per diluted share related to a prior period.
On July 24, 2008 FactSet announced that it had completed its acquisition of a copy of the Thomson Fundamentals database and related assets pursuant to the agreement reached with Thomson Reuters (“Thomson”) on April 22, 2008. Excluding the impact of the Thomson Fundamentals acquisition and the tax benefit in the fourth quarter of 2007, non-GAAP income from operations increased 20% to $51.3 million, non-GAAP net income advanced 16% to $34.3 million and non-GAAP diluted earnings per share rose to $0.68, up 17%. The growth rates of net income and diluted earnings per share were impacted by a 65% decline in interest income to $0.8 million for the quarter ended August 31, 2008.