Eddy Elfenbein submits: FactSet Research Systems (FDS) just reported another great quarter. The company earned 52 cents a share, compared with 38 cents last year. Excluding a three cent a share gain, the company earned 49 cents a share, which was a penny ahead of analysts' expectations. Sales rose 24% to $116.3 million.
The company also announced that it's going to double its quarterly dividend to 12 cents a share, plus it's expanding the stock repurchase program by $100 million.
FactSet also guided its sales forecast for this quarter slightly higher. It now sees revenues coming in between $118 million and $121 million. That will probably translate to earnings of about 52 cents a share.
The market doesn't seem to know what to do. The stock had been our top-performing stock of the year. Then it fell yesterday, and Jos. A. Bank Clothiers, (JOSB) rallied to take the #1 spot. FDS opened much higher today, but has given back a lot of the gain.