FactSet Research Systems Inc. reported net income of $66.7 million, or $1.68 per share, for the second quarter of fiscal 2017, compared with $67.8 million, or $1.63 per share, in the year-ago quarter.
Adjusted net income for the quarter increased 8.7% to $71.8 million, or $1.81 per share, from $66.1 million, or $1.59 per share, in the prior-year period.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.80.
FactSet's board approved a $300 million expansion to the company's existing share repurchase program, increasing the amount available for share repurchases to $336.5 million. The company repurchased 479,822 shares for $81.1 million during the second quarter under its existing share repurchase program.
For the third quarter of fiscal 2017, FactSet expects GAAP EPS in the range of $1.68 to $1.74, and adjusted EPS in the range of $1.80 to $1.86.
The S&P Capital IQ consensus normalized EPS estimate for the third fiscal quarter is $1.84.
The company expects revenues in the range of $301 million to $307 million, with approximately $6 million in revenues expected to be added from BISAM Technologies, which was recently acquired by the company.