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FactSet Updates FY19 Expectations - Quick Facts

FactSet (FDS) updated its GAAP EPS and adjusted EPS outlook for fiscal 2019. GAAP EPS is now expected to be in the range of $8.70 and $8.85. Adjusted EPS is now expected to be in the range of $9.50 and $9.65. The mid-point of the guidance represents a 12% growth over the prior year. In December 2018, the company projected: GAAP EPS to be in the range of $8.70 and $8.90; and adjusted EPS in the range of $9.45 and $9.65.

For fiscal 2019, the company continues to expect: organic Annual Subscription Value plus professional services to increase in the range of $75 million and $90 million over fiscal 2018; and GAAP revenues in the range of $1.41 billion and $1.45 billion.

For the second-quarter, earnings per share increased to $2.19 compared with $1.33, a year ago. Adjusted EPS rose 14.2% to $2.42 compared with $2.12 in the prior period driven primarily by stronger operating results, the company said.

For the second-quarter, Annual Subscription Value plus professional services increased to $1.44 billion at February 28, 2019 compared with prior year of $1.37 billion. Second-quarter organic ASV plus professional services grew $21.0 million over prior year. The organic growth rate was 6.0%, for the quarter.

For the second-quarter, revenues increased 5.9% to $354.9 million compared with $335.2 million, prior year. The company said the increase is primarily due to higher sales of analytics, content and technology solutions (CTS) and wealth management solutions. Organic revenues grew 5.7% to $356.5 million, during the quarter.

FactSet repurchased 214,945 shares for $44.1 million during the second quarter under the existing share repurchase program. Under the program, $137.2 million is currently available for share repurchases.

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