Tuesday, June 12, 2012

FactSet (NYSE: FDS) shares down sharply after Q4 view

FactSet (NYSE: FDS) shares down sharply after Q4 viewPalm Beach, FL 6/12/12 (StreetBeat) –FactSet Research Systems Inc. (NYSE:FDS) shares declined sharply on Tuesday following a soft forecast from the financial data services provider. Shares dropped to a 3-month low and were recently down 9.60% at $94.72. The company projected fourth-quarter revenue of $204 million to $208 million, compared with the Thomson Reuters forecast of $210 million. FactSet also said it expects per-share earnings of $1.06 to $1.08, compared with the consensus estimate of $1.08.

FactSet reported an 11% increase in fiscal third-quarter earnings and said it surpassed the $200 million-mark in quarterly revenue for the first time.

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