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FactSet posts higher net income YOY in fiscal Q1'17

FactSet Research Systems Inc. posted net income of $66.6 million, or $1.66 per share, for the first quarter of fiscal 2017, up from $60.0 million, or $1.43 per share, in the year-ago quarter.

Adjusted net income for the quarter increased by 12.2% to $70.1 million, or $1.75 per share, from $62.4 million, or $1.48 per share, in the prior-year period. Adjusted net income for the quarter excludes $2.8 million after-tax from intangible asset amortization and $707,000 after-tax from recurring acquisition costs.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.70.

For the fiscal second quarter of 2017, FactSet expects revenues in the range of $293 million and $298 million, GAAP EPS between $1.70 and $1.74, and adjusted EPS in the range of $1.78 to $1.82.

The S&P Capital IQ consensus normalized EPS estimate for the period is $1.75.

FactSet completed the acquisition of client reporting and communications software provider Vermilion Software Ltd. for $67 million in November 2016. The company acquired CYMBA Technologies Ltd., a multi-asset class investment management solutions provider, for total cash consideration of $8 million in September 2016.