Norwalk’s FactSet Research Systems Inc. raised fiscal first-quarter profits nearly 10 percent on strong subscription sales of its securities analytics, especially to buy-side customers.
For the three months ended Nov. 30, FactSet netted $45.5 million, or 99 cents a share, up from $41.6 million, or 88 cents a share, netted the same period last year.
First-quarter revenues rose 19 percent to $196.5 million vs. $173.3 million.
FactSet said its annual subscription value was $782 million at Nov. 30, up 12.5 percent from a year earlier. Â Of that, 82 percent is derived from buy-side clients and the remainder is from the sell-side firms who perform merger and acquisition advisory work and equity research.
