September 23, 2008 / 12:38 PM / 10 years ago

UPDATE 1-FactSet Q4 profit beats Wall Street expectations

(Recasts; adds detail)

Sept 23 (Reuters) - FactSet Research Systems Inc (FDS.N), which provides financial information to the investment community, posted a better-than-expected quarterly profit and forecast first-quarter revenue outlook, the top end of which was in line with analysts’ estimates.

Net income rose to $33.6 million, or 67 cents a share, for the fourth quarter ended Aug. 31, compared with $30.7 million, or 60 cents a share, a year earlier. Excluding special items, the company earned 68 cents a share.

Revenue rose by $24.2 million to $153.7 million, helped by a 16 percent rise in U.S. revenues and 25 percent jump in non-U.S. revenues.

Analysts on average were expecting a profit of 64 cents a share, before items, on revenue of $153.8 million, according to Reuters Estimates.

FactSet expects revenue of $154 million to $157 million for the first quarter, compared with analysts’ estimates of $156.5 million.

The company, which acquired a copy of the Thomson Fundamentals database from Thomson Reuters TRIL.L (TRI.N) (TRI.TO) on July 24, said the transaction will hurt its earnings until the end of 18-month transition period. However, the transaction is expected to add to its earnings in fiscal 2010.

Shares of the Norwalk, Connecticut-based company closed at $53.06 Monday on the New York Stock Exchange. (Reporting by Sandhya Menon in Bangalore)

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