IHS Q3 Adj. Profit Tops View; Lifts FY14 Revenue Outlook - Quick Facts

(RTTNews) - Business information provider IHS, Inc. (IHS) reported third-quarter net income of $46.5 million or $0.68 per share, compared to $23.4 million or $0.35 per share, in the prior-year quarter.

On an adjusted basis, earnings for the latest third quarter rose to $1.49 per share from $1.27 per share in the comparable quarter last year. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.44 per share for the quarter. Analysts' estimates typically exclude one-time items.

The Englewood, Colorado-based firm clocked quarterly revenue of $556.01 million, up 16 percent from the prior-year period's $480.29 million; with total organic revenue increase of 5 percent, anchored by 6 percent subscription organic revenue growth. Thirteen analysts projected third-quarter revenues of $556.66 million.

For the year ending November 30, 2014, IHS now expects adjusted earnings to be in the range of $5.70 to $5.80 per share and revenue of $2.23 billion to $2.24 billion, including 6 percent organic growth on the subscription base. Analysts project annual earnings per share of $5.80 on $2.24 billion revenues.

Earlier, the company expected adjusted earnings of $5.50 to $5.85 per share and revenue of $2.17 billion to $2.23 billion, including 6-7 percent organic growth on the subscription base.