Print
Email
FactSet Research Systems Inc. (FDS) filed Quarterly Report for the period ended 2011-11-30.
Factset Research Systems Inc. has a market cap of $3.92 billion; its shares were traded at around $86.79 with a P/E ratio of 23.65 and P/S ratio of 5.4. The dividend yield of Factset Research Systems Inc. stocks is 1.24%. Factset Research Systems Inc. had an annual average earning growth of 17.9% over the past 10 years. GuruFocus rated Factset Research Systems Inc. the business predictability rank of 5-star.
This is the annual revenues and earnings per share of FDS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of FDS.
Highlight of Business Operations:
International revenues in the first quarter of fiscal 2012 were $62.0 million, an increase of 12.5% from the prior year period. The impact from foreign currency increased international revenues by $0.3 million year over year. European revenues advanced 11.4% to $48.1 million due to increases in client counts, offering a broader selection of global proprietary content, clients using our advanced applications, annual price increases and growth in our real-time news and quotes. Asia Pacific revenues grew to $13.9 million, up 16.7% from the same period a year ago. Excluding the impact of foreign currency attributable to the change in the value of the Japanese Yen compared to the U.S. dollar, Asia Pacific revenue growth was 14.4% year over year largely due to our ability to sell additional services to existing clients, the ability to bring on new clients and users over the last 12 months, growth in our global content offering and the expansion of our real-time news and quotes that services the needs of a global investor. In March 2011, we issued our annual price increase for the majority of our non-U.S. investment management clients resulting in incremental revenue of $0.5 million during the first quarter of fiscal 2012. Revenues from international operations accounted for 31.5% of our consolidated revenues in the first quarter of fiscal 2012, as compared to 31.8% a year ago.ASV at a given point in time represents the forward-looking revenues for the next 12 months from all subscription services being supplied to our clients. With proper notice to us, our clients are able to add to, delete portions of, or terminate service at any time. At November 30, 2011, ASV was $782 million, up 12.5% from a year ago. ASV from our U.S. operations was $533 million, up $59 million from a year ago. ASV from international operations increased from $221 million at November 30, 2010 to $249 million at November 30, 2011, representing 32% of our Company-wide total.
Operating income advanced 12.3% to $66.8 million for the three months ended November 30, 2011. However, our operating margin during the first quarter of fiscal 2012 was 34.0%, down from 34.3% a year ago. The decrease in operating margin in the first quarter of fiscal 2012 as compared to the same period a year ago was primarily due to expanding the number of employees in all areas throughout the world, incremental stock option expense and higher office costs partially offset by benefits from foreign currency movements. The continued investment in our personnel resulted in headcount growth of 22%, driven by hiring for our operations in India and the Philippines, as well as the hiring of consultants and software engineers in each geographic region. In the first three months of fiscal 2012 as compared to fiscal 2011, foreign currency movements increased revenues by $0.3 million, decreased our operating expenses by $0.4 million and increased operating income by $0.7 million. Foreign currency movements did not impact operating income in the first quarter of fiscal 2011 when holding currencies constant from the first quarter of fiscal 2010.
Operating income from our U.S. business increased 3.5% to $36.4 million during the three months ended November 30, 2011 compared to $35.2 million in the same period a year ago. The increase in operating income was primarily due to $16.3 million of incremental revenues and lower computer-related expenses partially offset by higher employee compensation and a rise in office expenses. Our revenue growth in the U.S. is due to clients continuing to purchase our PA suite of products, an increase in Market Metrics revenues by $1.4 million, expanded deployment of our proprietary data and an increase in the client retention rate. Computer-related expenses, including depreciation and computer maintenance costs decreased due to the transition to more efficient and cost-effective servers in our data centers in addition to the continued use of fully depreciated servers. U.S. employee headcount increased 16% over the prior year leading to higher office costs in fiscal 2012 as compared to the first quarter of fiscal 2011.
Our non-U.S. dollar denominated revenues expected to be recognized over the next twelve months are estimated to be $16 million while our non-U.S. dollar denominated expenses are $152 million, which translates into a net foreign currency exposure of $136 million per year. Our foreign currency exchange exposure is related to our operating expense base in countries outside the U.S., where approximately 68% of our employees are located. Foreign currency movements decreased our operating expenses by $0.4 million and increased operating income by $0.7 million during the first three months of fiscal 2012 as compared to the same period a year ago.
Subscribe RSS
