Fourth Quarter Fiscal 2018 Highlights
Revenues increased 5.9% or $19.2 million to $345.9 million compared with $326.6 million for the same period in fiscal 2017. Organic revenues grew 5.3% to $347.1 million during the fourth quarter of 2018 from the prior year period. The increase is primarily due to higher sales of research and analytics products, content and technology solutions (CTS) and wealth management solutions.
Annual Subscription Value (ASV) increased to $1.39 billion at August 31, 2018 compared with prior year ASV of $1.32 billion. Fourth quarter organic ASV growth of $38.6 million is the highest in the history of the Company. The organic ASV growth rate, which excludes the effects of acquisitions, dispositions, and foreign currency, was 5.7%.
Operating margin increased to 25.5% compared with 25.2% for the same period last year. Adjusted operating margin rose to 31.3% compared with 31.2% in the prior year period.
Diluted earnings per share (EPS) advanced to $1.77 compared with $1.52 for the same period in fiscal 2017. Adjusted diluted EPS rose 15.8% to $2.20 compared with $1.90 in the prior period boosted primarily by the U.S. Tax Cuts and Jobs Act (TCJA).
The Company’s effective tax rate for the fourth quarter was 18.0% compared with 25.3% a year ago, primarily due to the TCJA.
FactSet celebrated 40 years as a company achieving 38 consecutive years of revenue growth and 22 years of consecutive adjusted diluted EPS growth.
“We are proud to have reached many milestones in fiscal 2018. We celebrated 40 years as a company with 38 years of consecutive revenue growth and 22 years of consecutive adjusted EPS growth. This quarter we had the highest reported quarterly ASV in our history. We enter fiscal 2019 with strong momentum and an expanding suite of innovative workflow solutions to drive our growth plans,” said Phil Snow, FactSet CEO.
FactSet Reports Strong Revenue and EPS Growth in Fourth Quarter 2018
