LONDON, UK / ACCESSWIRE / January 11, 2018 / Active-Investors.com has just released a free earnings report on FactSet Research Systems Inc. (NYSE: FDS) ("FactSet"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FDS. The Company reported its first quarter fiscal 2018 operating results on December 19, 2017. The financial data firm surpassed earnings expectations and provided guidance for the fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

FactSet's revenues increased 14.3% to $329.1 million compared to $288.1 million for Q1 FY17. The Company's organic revenues grew 5.8% to $304.3 million during the reported quarter. FactSet's revenue numbers fell short of analysts' estimates of $331.2 million.

During Q1 FY18, FactSet's operating margin decreased to 27.1% compared to 31.4% in Q1 FY17. The drop in operating margin was primarily related to $7.1 million in restructuring actions initiated by the Company. FactSet's adjusted operating margin decreased to 31.7% in the reported quarter compared to 33.0% in the prior year's same period.

FactSet's diluted earnings per share (EPS) increased 7% to $1.77 in Q1 FY18 compared to $1.66 for Q1 FY17. The Company's adjusted diluted EPS rose 16.6% to $2.04 for the reported quarter versus $1.75 in the prior year's comparable period. FactSet's earnings surpassed Wall Street's estimates of $1.98 per share.

Operational Highlights

FactSet's Client Count as of November 30, 2017, was 4,809, reflecting a net increase of 65 clients in the past three months. The count includes clients with Annual Subscription Value (ASV) of $10,000 and above.

FactSet's User Count decreased 253 to 88,593 in Q1 FY18, primarily due to StreetAccount user cancellations. The Company's Annual Client Retention was greater than 95% of Annual Subscription Value (ASV). When expressed as a percentage of clients, annual retention was 90%. FactSet's Employee Count was 9,421 at November 30, 2017, up 8.1% in the past 12 months. Excluding workforces acquired in the fiscal year 2017, headcount increased 2.9% on a y-o-y basis.

ASV and Segment Revenue

FactSet's ASV increased to $1.32 billion at November 30, 2017, compared to the prior year's ASV of $1.17 billion. The Company's organic ASV, which excludes the effects of acquisitions, dispositions, and foreign currency increased 5.1%. ASV excludes professional services fees billed in the last 12 months, which are not subscription-based.

FactSet's buy-side and sell-side ASV growth rates were 5.3% and 3.9%, respectively, for Q1 FY18. Buy-side clients accounted for 84.2% of ASV, while the remainder was derived from sell-side firms that perform mergers and acquisitions advisory work, capital markets services, and equity research.

FactSet's ASV from US operations was $824.9 million, increasing 7.8% over the $765.3 million of the prior year, and 3.9% organically. US revenues were $208.8 million for the reported quarter compared to $190.6 million. Excluding the effects of acquisitions and dispositions completed in the last 12 months, the US revenue growth rate was 4.8%.

For Q1 FY18, FactSet's ASV from International operations was $495.0 million, increasing 22.2% over the ASV of $405.1 million of Q1 FY17, and 7.3% organically. International ASV represented 37.5% of total ASV in the reported quarter, up from 34.6% in the year ago same period. International revenues were $120.4 million compared to $97.5 million from Q1 FY17.

Cash Matters

FactSet's free cash flow was $55.2 million in Q1 FY18 compared to $38.6 million in Q1 FY17. The Company's net cash provided by operating activities was $61.1 million for the reported quarter versus $51.1 million for the year ago comparable period.

FactSet's capital expenditure decreased to $5.9 million in Q1 FY18 compared to $12.5 million in Q1 FY17. The Company's prior year capital expenditure was higher, primarily due to the build out of new office space in Chicago and New York City.

FactSet repurchased 164,920 shares for $30.9 million during Q1 FY18, under the Company's existing share repurchase program. Over the last 12 months, FactSet has returned $291 million to stockholders in the form of share repurchases and dividends, funded by cash generated from operations. As of November 30, 2017, $213.2 million remained for future share repurchases under the share repurchase program.

Business Outlook

For the fiscal year 2018, FactSet is forecasting organic ASV to increase in the range of 4.9% to 6.5%. The Company's GAAP revenues are expected to be in the band of $1.34 billion and $1.36 billion, and GAAP operating margin is expected to be in the range of 28.5% and 30.0%. The Company's adjusted operating margin is expected to be in the band of 31.0% and 32.5%. FactSet is projecting GAAP diluted EPS to be in the range of $7.60 and $7.80. Adjusted diluted EPS is expected to be in the band of $8.25 and $8.45. The midpoint of the adjusted EPS range represents a 14% growth on a y-o-y basis.

Stock Performance Snapshot

January 10, 2018 - At Wednesday's closing bell, FactSet Research Systems' stock slightly advanced 0.60%, ending the trading session at $195.34.

Volume traded for the day: 443.43 thousand shares, which was above the 3-month average volume of 412.75 thousand shares.

Stock performance in the last three-month ? up 9.75%; previous six-month period ? up 19.15%; past twelve-month period ? up 15.27%; and year-to-date ? up 1.34%

After yesterday's close, FactSet Research Systems' market cap was at $7.60 billion.

Price to Earnings (P/E) ratio was 29.49.

The stock has a dividend yield of 1.15%.

The stock is part of the Technology sector, categorized under the Information & Delivery Services industry.

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