Net income grew 15.6% to $68.8 million and diluted EPS rose 16.4% to $1.77 versus the prior-year quarter. Adjusted diluted EPS improved 15.8% to $2.20, driven by the US Tax Cuts and Jobs Act.
Annual Subscription Value (ASV) increased to $1.39 billion compared to the prior-year. For the fourth quarter, the company recorded its highest-ever organic ASV growth of $38.6 million. Research ASV remained flat during the quarter at $637.2 million while ASVs in Analytics, Content and Technology Solutions and Wealth saw increases.
FactSet’s client count increased during the quarter driven mainly by institutional asset managers and wealth management while the user count saw improvements due to higher investment banking workstation sales.
For fiscal-year 2019, the company expects GAAP revenues to be $1.41 billion to $1.45 billion. GAAP diluted EPS is expected to be $8.70 to $8.90 while adjusted diluted EPS is expected to be $9.45 to $9.65. Organic ASV plus professional services is expected to grow by $75 million to $90 million over 2018.
FactSet added that it appointed Helen Shan as the new Chief Financial Officer in September.