IHS 4Q performance tops Street, names new CFO

Published on NewsOK Modified: January 8, 2013 at 6:22 am •  Published: January 8, 2013
Advertisement
;

ENGLEWOOD, Colo. (AP) — Business information and analytics firm IHS's fiscal fourth-quarter net income more than doubled as revenue improved across all regions. Its performance topped analysts' estimates.

The company also named Chief Financial Officer Rich Walker as executive vice president of global finance. Walker had been CFO since August 2011.

The company appointed senior vice president Todd Hyatt as CFO, reporting to Walker, and as information technology officer. Hyatt remains a senior vice president and previously served as chief information officer.

Englewood, Colo.-based IHS Inc. earned $46.4 million, or 69 cents per share, for the three months ended Nov. 30. That's up from $22.7 million, or 34 cents per share, a year earlier.

Excluding restructuring charges, stock-based compensation expense and other items, earnings were $1.21 per share.

Analysts predicted earnings of $1.11 per share, according to a FactSet survey.

Revenue rose 12 percent to $414.4 million from $370.7 million, helped by acquisitions and increases in both subscription and non-subscription revenue. Wall Street expected $409.2 million in revenue.

For the year, IHS earned $158.2 million, or $2.37 per share. In the previous year the company earned $135.4 million, or $2.06 per share. Annual revenue increased 15 percent to $1.53 billion from $1.33 billion.

IHS said Tuesday that it still expects full-year adjusted earnings of $4.23 to $4.43 per share on revenue in a range of $1.64 billion to $1.71 billion.

Analysts predict earnings of $4.36 per share on revenue of $1.68 billion.