LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on FactSet Research Systems Inc. (NYSE: FDS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FDS, following the Company’s disclosure of its financial results on September 26, 2017, for the fourth quarter fiscal 2017 (Q4 FY17). The Norwalk, Connecticut based integrated financial information services providers’ sales jumped 13.7% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:
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FactSet reported revenue of $326.64 million in Q4 FY17 compared to $287.29 million in Q4 FY16. Analysts’ estimates of the Company’s revenues for the same quarter stood at $325.30 million, which indicated that the Company reported better revenue figures than estimates. For FY18, the Company expects to generate GAAP revenues between $327 million to $333 million.
FactSet’s operating income decreased by 6% to $82.43 million on y-o-y basis in Q4 FY17 from $87.73 million in Q4 FY16. The decrease in operating income for Q4 FY17 was a result of higher expenses incurred online items such as cost of services and selling, general, and administrative (SG&A) expenses.
FactSet reported a lower net income for Q4 FY17 at $59.55 million compared to $144.31 million in Q4 FY16 on a y-o-y basis, which resulted in a whopping decline of 58%.
The Company’s diluted EPS fell to $1.52 in Q4 FY17 versus $3.55 in Q4 FY16. The adjusted diluted EPS stood at $1.90 in Q4 FY17 compared to $1.70 reported in Q4 FY16, thereby portraying a 12.40% increase. As for 2018, FactSet’s adjusted diluted EPS is expected to be in the range of $1.70-$1.80.
As the Company derives its revenues from the annual subscription fee it receives from FactSet’s platform subscribers, the Annual Subscription Value (ASV), increased by 14.78% from $1.15 billion as on August 31, 2016, to $1.32 billion as on August 31, 2017. The Company’s organic ASV, which excludes the effects of acquisitions, dispositions, and foreign currency, increased $31.7 million over the last three months.
The ASV derived from FactSet’s US operations also posted a substantial increase of 9.38% on a y-o-y basis in Q4 FY17. The Company’s ASV from international operations surged 24.3%, totaling $491.5 million, versus prior year’s ASV of $395.5 million. International ASV now represents 37.3% of the Company’s total ASV, up from 34.4% a year ago.
FactSet’s buy-side clients, who account for 84% of the Company’s total ASV, reported ASV growth rate for Q4 FY17 of 5.90%, while sell-side clients, who account for the rest 16% of the ASV, recorded growth rate at 4.60% for the year-ago same period.
FactSet’s Client count as of August 31, 2017, was 4,744, a net increase of 115 clients in the past three months. The Company’s User count grew 2,821 to 88,846 in the past three months. FactSet’s Annual client retention was greater than 95% of ASV.
FactSet’s Balance Sheet as on August 31, 2017, saw cash and cash equivalents at $194.73 million compared to $228.41 million on August 31, 2016. FactSet also reported lower CapEx of $10.1 million in Q4 FY17 compared to $13.10 million reported for the same quarter in 2016.
The Company’s current liabilities increased by 27.13% from $158.21 million as on August 31, 2016, to $201.14 million as on August 31, 2017, which could be due to higher deferred fees paid by the Company in the current fiscal year.
FactSet posted free cash flows at $89.3 million in Q4 FY17 compared to $57.0 million in the same quarter in the fiscal year 2016. For the twelve months ending on 31 August 2017, FactSet reported net cash from operating activities at $320.57 million compared to $331.14 million; a decline of 3.19%.
During Q4 FY17, FactSet, under its existing share repurchase program, repurchased 270,000 shares worth a total of $44.1 million. Considering shareholders’ interest, the Company rolled out dividends of $0.56 per share, worth a total of $21.90 million on August 31, 2017.
At the closing bell, on Thursday, October 05, 2017, FactSet Research Systems’ stock fell slightly by 0.14%, ending the trading session at $180.91. A total volume of 323.55 thousand shares have exchanged hands, which was higher than the 3-month average volume of 305.47 thousand shares. The Company’s stock price surged 11.65% in the last three months, 12.28% in the past six months, and 14.25% in the previous twelve months. Moreover, the stock rallied 10.70% since the start of the year. The stock is trading at a PE ratio of 27.77 and has a dividend yield of 1.24%. The stock currently has a market cap of $7.06 billion.
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