* Third-quarter adjusted earnings $1.27/share vs est $1.18
* Revenue $480.3 mln vs est $468.5 mln
* Non-subscription revenue rises 27 pct
By Sruthi Ramakrishnan
Sept 19 Research firm IHS Inc
reported better-than-expected quarterly results as a major
product release and demand for consulting services boosted
non-subscription revenue, and it said strong demand was
continuing in the current quarter.
IHS, whose publications include include Jane's Defence
Weekly, provides analysis and information on areas including
energy, product design and the environment.
Revenue in the company's non-subscription business jumped 27
percent to $115.3 million in the third quarter, compared with a
5 percent drop a year earlier. The business, which includes
consulting, software licensing and events, accounted for 24
percent of overall revenue last year.
The release of an engineering standard for boiler pressure
vessels, which the company issues every two years, brought in
millions of dollars in revenue in the quarter, Chief Executive
Scott Key told Reuters.
IHS also sees a strong consulting deals pipeline heading
into the fourth quarter after the strongest month of consulting
sales in about a year in the latest quarter, Key said.
Revenue in IHS's larger subscription business increased 24
percent to $365 million, up from average quarterly growth of 9.3
percent over the last year.
"We had really solid pipeline in the subscription business
and we see that improving going forward," Key said.
Net income fell to $23.4 million, or 35 cents per share, in
the third quarter, from $44.1 million, or 66 cents per share, a
year earlier. Excluding items, IHS earned $1.27 per share.
Revenue rose 25 percent to $480.3 million.
Analysts on average had expected earnings of $1.18 per share
on revenue of $468.5 million, according to Thomson Reuters
IHS raised the lower end of its adjusted earnings forecast
by 1 cent for the year ending Nov. 30 to exclude amortization.
The company last month raised its full-year adjusted
earnings forecast to $4.74-$5.00 per share on revenue of $1.80
billion-$1.82 billion to account for its purchase of R.L. Polk &
Co, owner of used-car history provider Carfax.
IHS's rivals include units of Thomson Reuters Corp
, SAP, McGraw-Hill Cos Inc, Accenture
Plc and Deloitte.
Shares of the company, which have risen 3 percent since the
company updated its earnings forecast, closed at $114.90 on the
New York Stock Exchange on Wednesday.