Since 1978, FactSet
Key to building this content has been acquisitions. One of the latest was the purchase of JCF in late June. JCF provides global broker estimates to institutional investors. While FactSet has a strong presence in the U.S., the acquisition will help the company extend its reach into global markets, especially Europe.
And FactSet is already enjoying the benefits of the acquisitions. On the announcement of FactSet's earnings, the stock price surged 9% to $48.90.
Last quarter, revenues for FactSet increased 17.6% to $67.7 million. Net income increased 8.9% to $14.7 million. During the quarter, the company had to incur a one-time expense of $837,000 to deal with headquarter relocations.
Like Bloomberg and Thomson
A nice thing about subscription revenues is the predictability. On the conference call, management gave guidance of $73 million to $75 million for the next quarter. This is something you can probably bank on.
Something else about subscriptions: It builds a company's cash balance. In a recent Fool article, Nathan Parmelee took a look at so-called Green Monsters, such as Microsoft
Fool contributor Tom Taulli does not own any of the stocks mentioned in the article.
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