IHS Inc. (IHS) announced an update to its fiscal 2013 financial guidance for the Fekete acquisition and for the planned divestiture of a small, under-performing non-core asset. IHS also announced its long-term planned management succession, with current President and Chief Operating Officer Scott Key assuming the role of President and Chief Executive Officer effective June 1, 2013.
For the year ending November 30, 2013, IHS expects: all-in revenue in a range of $1.66 billion to $1.73 billion, and adjusted profit per share between $4.23 and $4.43. Analysts polled by Thomson Reuters expect the company to report fiscal 2013 profit per share of $4.35 on revenue of $1.68 billion. Analysts' estimates typically exclude special items.
IHS said, Jerre Stead, current Chairman and Chief Executive Officer, will become Executive Chairman, effective June 1. Michael Armstrong will continue in his position as Lead Independent Director of the IHS board.
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