Originally published at www.seclive.com
FactSet Research Systems Inc. (NYSE:FDS) announced its third fiscal quarter results for 2014, reporting increases in both revenue and earnings. The global analytic application and financial information provider saw revenues increase 8% to $231.8M from $214.6M a year ago. Adjusted earnings improved from $50.1M and $1.13 per share to $53.1M and $1.25 per share. FactSet's annual subscription value (ASV) improved 7% organically from a year ago to $932M, while annual client retention was more than 95% of ASV. The company incrementally added 30 more clients during the quarter to a new total of 2,662. Chairman and CEO Philip Hadley commented that the company's ASV growth and earnings improvements reflect well on the company's ability to capitalize on great opportunities. Hadley also announced that Phil Snow will be named as President, effective July 1, and will report directly to Hadley.
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