March 20 Business research and information firm
IHS Inc reported better-than-expected first-quarter
results, helped by contract wins in its non-subscription
The company, whose businesses include Cambridge Energy
Research Associates and technology market research firm iSuppli,
won more consulting and software deals in the quarter, Chief
Executive Scott Key told Reuters.
"It's actually the first positive organic growth for a
quarter for (the) non-subscription (business) in eight
quarters," he said.
Revenue from IHS's non-subscription business, which also
includes organizing industry events, rose 43 percent to $107.1
million in the quarter ended Feb. 28. The business accounted for
24 percent of the company's revenue in the year ended Nov. 30.
IHS's net income rose to $32.4 million, or 47 cents per
share in the quarter, from $24.7 million, or 37 cents per share,
a year earlier. Excluding items, earnings were $1.28 per share.
Revenue rose 37 percent to $524.5 million.
Analysts on average had expected earnings of $1.25 per share
on revenue of $514.1 million, according to Thomson Reuters
IHS shares closed at $120.77 on the New York Stock Exchange
on Wednesday after hitting a 52-week high of $123.95 in early
January. The stock has risen about 10.5 percent in the past
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Ted