FactSet Research posts slightly higher 1st-quarter profit

FactSet Research 1Q profit edges higher

NORWALK, Conn. — FactSet Research Systems Inc., a provider of provider of financial research and analytics, posted a slight increase Tuesaday in its fiscal first-quarter profit Tuesday and said its business is stabilizing.

For the three months ended Nov. 30, the company earned $36.1 million, or 74 cents per share, up from $35.6 million, or 73 cents per share, a year earlier.

Revenue was nearly flat at $155.2 million compared with $155.6 million.

Analysts, on average, had expected a profit of 74 cents per share on sales of $155.9 million, according to a poll by Thomson Reuters.

The company said it is focusing on increasing earnings per share while its business stabilizes.

FactSet forecast second-quarter earnings between 73 cents and 75 cents per share on sales of $154 million and $158 million.

Analysts are predicting earnings of 75 cents per share on sales of $158.3 million for the second quarter.