FactSet Research Systems Inc. (FDS, Financial) filed Quarterly Report for the period ended 2009-11-30.
Factset Research Systems Inc. has a market cap of $3.22 billion; its shares were traded at around $68.03 with a P/E ratio of 23.3 and P/S ratio of 5.1. The dividend yield of Factset Research Systems Inc. stocks is 1.2%. Factset Research Systems Inc. had an annual average earning growth of 22.6% over the past 10 years. GuruFocus rated Factset Research Systems Inc. the business predictability rank of 5-star.FDS is in the portfolios of Ron Baron of Baron Funds, John Hussman of Hussman Economtrics Advisors, Inc., Paul Tudor Jones of The Tudor Group, Chuck Royce of ROYCE & ASSOCIATES, Bruce Kovner of Caxton Associates, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC, Jeremy Grantham of GMO LLC.
ASV increased $2 million during the first quarter of fiscal 2010, which included non-subscription revenues totaling $4 million. Excluding the first time inclusion of non-subscription revenues, ASV decreased $2 million organically since August 31, 2009. The performance of FactSet Fundamentals and Estimates and the demand for PA and real-time news and quotes continued to be positive ASV growth leaders. Although organic ASV change was negative during the first three months of fiscal 2010, we believe that multiple quarters of strong market performance is necessary to change our clients annual spend.
European operating income increased 30% to $17.8 million during the three months ended November 30, 2009 compared to $13.7 million in the same period a year ago primarily due to favorable currency exchange rates, gains from hedging activities, a $0.2 million increase in revenues, the termination of a BPO relationship in May 2009 and a decrease in T&E costs. As disclosed earlier, a gain of $1.5 million was recorded in the first quarter of fiscal 2010 from foreign currency hedging activities. In addition, the strengthening of the U.S. dollar against the British Pound Sterling year over year resulted in a
Asia Pacific operating income decreased 50% to $3.1 million during the three months ended November 30, 2009 compared to $6.3 million in the same period a year ago primarily driven by the offshore expansion of our proprietary content operations in India and the Philippines as well as increased occupancy costs for our office expansion in Japan, India and the Philippines, partially offset by a 4% increase in revenues and favorable currency rates that increased revenues expressed in U.S. dollars. The strengthening of the Japanese Yen compared to the U.S. dollar increased Asia Pacific revenues by $0.4 million during the first three months of fiscal 2010 as compared to the same period a year ago.
Net income rose 1.6% to $36.1 million and diluted earnings per share increased 1.4% to $0.74 for the three months ended November 30, 2009. Included in the year ago quarter was a $0.03 per diluted share benefit from the reenactment of the U.S. Federal R&D credit in October 2008, retroactive to January 1, 2008. Excluding the $0.03 per diluted share income tax benefit in the first quarter of fiscal 2009, diluted earnings per share growth was 6% year over year.
As depicted in the chart below, our non-U.S. dollar denominated revenues expected to be recognized over the next twelve months are estimated to be $19 million while our non-U.S. dollar denominated expenses are $121 million, which translates into a net foreign currency exposure of $102 million per year.
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Factset Research Systems Inc. has a market cap of $3.22 billion; its shares were traded at around $68.03 with a P/E ratio of 23.3 and P/S ratio of 5.1. The dividend yield of Factset Research Systems Inc. stocks is 1.2%. Factset Research Systems Inc. had an annual average earning growth of 22.6% over the past 10 years. GuruFocus rated Factset Research Systems Inc. the business predictability rank of 5-star.FDS is in the portfolios of Ron Baron of Baron Funds, John Hussman of Hussman Economtrics Advisors, Inc., Paul Tudor Jones of The Tudor Group, Chuck Royce of ROYCE & ASSOCIATES, Bruce Kovner of Caxton Associates, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
ASV at any given point in time represents the forward-looking revenues for the next 12 months from all annual subscription services currently being supplied to clients in addition to the trailing 12 months of non-subscription revenues derived from workstations sold to summer interns, introducing brokerage services, M&A related publications and the Partner software product. With proper notice to us, our clients are generally able to add to, delete portions of, or terminate service at any time. At November 30, 2009, ASV was $621 million, up $1 million from the prior year total of $620 million. Excluding the first time inclusion of non-subscription revenues totaling $4 million, ASV decreased $3 million over the last twelve months. ASV fromASV increased $2 million during the first quarter of fiscal 2010, which included non-subscription revenues totaling $4 million. Excluding the first time inclusion of non-subscription revenues, ASV decreased $2 million organically since August 31, 2009. The performance of FactSet Fundamentals and Estimates and the demand for PA and real-time news and quotes continued to be positive ASV growth leaders. Although organic ASV change was negative during the first three months of fiscal 2010, we believe that multiple quarters of strong market performance is necessary to change our clients annual spend.
European operating income increased 30% to $17.8 million during the three months ended November 30, 2009 compared to $13.7 million in the same period a year ago primarily due to favorable currency exchange rates, gains from hedging activities, a $0.2 million increase in revenues, the termination of a BPO relationship in May 2009 and a decrease in T&E costs. As disclosed earlier, a gain of $1.5 million was recorded in the first quarter of fiscal 2010 from foreign currency hedging activities. In addition, the strengthening of the U.S. dollar against the British Pound Sterling year over year resulted in a
Asia Pacific operating income decreased 50% to $3.1 million during the three months ended November 30, 2009 compared to $6.3 million in the same period a year ago primarily driven by the offshore expansion of our proprietary content operations in India and the Philippines as well as increased occupancy costs for our office expansion in Japan, India and the Philippines, partially offset by a 4% increase in revenues and favorable currency rates that increased revenues expressed in U.S. dollars. The strengthening of the Japanese Yen compared to the U.S. dollar increased Asia Pacific revenues by $0.4 million during the first three months of fiscal 2010 as compared to the same period a year ago.
Net income rose 1.6% to $36.1 million and diluted earnings per share increased 1.4% to $0.74 for the three months ended November 30, 2009. Included in the year ago quarter was a $0.03 per diluted share benefit from the reenactment of the U.S. Federal R&D credit in October 2008, retroactive to January 1, 2008. Excluding the $0.03 per diluted share income tax benefit in the first quarter of fiscal 2009, diluted earnings per share growth was 6% year over year.
As depicted in the chart below, our non-U.S. dollar denominated revenues expected to be recognized over the next twelve months are estimated to be $19 million while our non-U.S. dollar denominated expenses are $121 million, which translates into a net foreign currency exposure of $102 million per year.
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