FactSet Research Systems Slumps & Finisar Corporation Jumps After Earbings (FDS, FNSR)
FactSet Research Systems Inc. (NYSE:FDS) tumbled in the opening session on Tuesday after the company’s guidance for the fiscal fourth-quarter failed to meet the Wall Street’s estimate. However, the company posted 11% jump in third quarter profit boosted by solid revenues.
The company reported net income of $48 million, or $1.05 per share in the latest quarter, up from a year ago profit of $43.3 million, or 92 cents per share. Excluding certain costs, the company would have earned $1.15 a share, ahead of analysts’ projections by 11 cents. Revenue during the quarter jumped 10% year over year to $202.3 million from $183.6 million. Analysts were estimating $202.9 million in revenue.
For the current quarter, the company projects to earn $1.06 and $1.08 per share, or $1.15 to $1.17 per share excluding one-time items on revenue of $204 million and $208 million, well below analysts’ target of $1.07 per share on $210.2 million in revenue.
Shares of FDS plunged 8.52% to $95.66 in early hours.
Finisar Corporation (NASDAQ:FNSR) climbed in the opening session despite the company projected lower than estimated earnings for the current quarter.
For the fourth-quarter, the company projected net income of $13.2 million or $0.14 per share, down from a year ago profit of $16.4 million or $0.17 per share. On an adjusted basis, the company would have earned 21 cents a share, in line with analysts’ estimates.
Revenue during the quarter jumped slightly to $239.1 million compared to $236.9 million last year, missing analysts’ target of $242.62 million.
Looking forward to the first quarter, the company expects adjusted earnings in a range of about $0.11 to $0.15 per share and revenues of $218 million to $233 million. Analysts currently estimate earnings of $0.24 per share on revenues of $250.37 million.
Shares of FNSR jumped 3.90% to $13.99.