ENGLEWOOD, Colo. (AP) — Information and analysis company IHS Inc. said Monday that its fiscal second-quarter net income rose nearly 11 percent and beat market expectations.
The company raised its full-year earnings guidance.
The Englewood, Colo., company earned $44.2 million, or 66 cents per share, for the quarter that ended May 31. That compares with $39.9 million, or 61 cents per share, in the same quarter last year. After adjusting for acquisition costs, stock-based compensation and other one-time items, IHS earned 97 cents per share versus 83 cents per share last year.
Analysts, who usually exclude one-time items, expected 94 cents per share, according to FactSet.
Revenue increased 20 percent to $387.2 million. Analysts expected $382.7 million. Subscription and consulting revenue rose for the quarter, but its transaction revenue fell.
IHS expects to earn between $3.88 and $4.01 per share for the full year, up slightly on the lower end from an earlier forecast of $3.84 to $4.01 per share. Analysts expect $3.95 per share. HIS kept its revenue forecast of $1.53 billion to $1.58 billion. Analysts forecast $1.55 billion.
The outlook does not include recently announced plans to acquire Global Spec Inc. IHS announced last week that it will buy the company from Warburg Pincus LLC for $135 million.
IHS also announced a secondary public offering of eight million shares of its Class A common stock by one of its shareholders, Conscientia Investment Ltd. IHS won't receive any proceeds from the sale.
IHS shares rose $1.46 to close at $105.84. They fell $4.44, or 4.2 percent, in after-hours trading.