FactSet Q4 Profit Rises; Issues Q1 Outlook - Quick Facts

(RTTNews) - Financial data provider FactSet Research Systems, Inc. (FDS) posted fourth-quarter net income of $62.2 million, or $1.48 a share, up from $55.4 million, or $1.31 a share in the comparable quarter last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.47 per share for the quarter. Analysts' estimates typically exclude special items.

For the latest quarter, revenues advanced by 9.7% to $261.78 million from the prior year's $238.66 million, while 14 analysts estimated revenues of $261.76 million for the quarter. Included in this total was $2.4 million from acquisitions completed since August 2014, according to the company.

Looking ahead to the first quarter, the company expects earnings per share to range between $1.46 and $1.48 and revenues to range between $265 million and $269 million. Analysts expect the company to report earnings of $1.49 per share on revenues of $265.91 million for the first quarter.

Separately, the company announced that it has agreed to acquire all the issued and outstanding membership interests of Portware, LLC for cash consideration of $265 million.

FactSet said it will fund the acquisition with an expansion of its existing revolving credit facility. Following regulatory review, the transaction is expected to close before the end of FactSet's first fiscal quarter.

Portware is an award-winning, multi-asset execution management system ("EMS") that is trusted by the world's largest asset managers. With global clients that stretch across North America, Asia and Europe, Portware delivers products, services, and solutions that transform the way financial institutions analyze, communicate, and execute investment ideas.