Boosted by New Clients, FactSet 2Q Net Rises 3.3%

By FOXBusiness

FactSet Research (NYSE:FDS) beat the Street on Tuesday by posting a 3.3% jump in fiscal second-quarter net income amid healthy client recruitment and expanding margins.

The Norwalk, Conn.-based financial software company said it earned $46.7 million, or $1.02 a share, last quarter, compared with a profit of $45.3 million, or 95 cents a share, a year earlier. Excluding one-time items, it earned $1.14 a share, topping forecasts from analysts for $1.00 a share.

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FactSet said its revenue jumped 12% to $199.4 million. Operating margins expanded to 33.7% from 32.7%.

The company was buoyed by an increase of 53 new clients during the quarter, giving it a total of 2,324.

Looking ahead, FactSet projected non-GAAP EPS of $1.14 to $1.16 for the current quarter on revenue of $200 million to $204 million. Operating margin is seen ranging between 33.5% and 34%.

Shares of FactSet eased 0.89% to $90.00 ahead of the opening bell, eating into their 2012 gain of 4%.