March 21, 2013 / 10:07 AM / 5 years ago

Jane's publisher IHS beats first-quarter estimates

(Reuters) - IHS Inc, publisher of Jane’s Defence Weekly, reported higher-than-expected first-quarter revenue on a 13 percent rise in subscription income, but said customers continued to delay spending decisions on its non-subscription services.

Non-subscription business, including consulting, software licensing and events, accounted for 24 percent of IHS’s revenue last year.

“We continue to see postponement on some of the projects that our customers think are not time-sensitive,” Chief Executive Jerre Stead told Reuters on Thursday.

The company had said in January that some deals expected to close in the fourth quarter of 2012 were delayed.

Stead, however, said the company expects non-subscription income business for the full year to increase.

IHS had three tuck-in acquisitions in the quarter ending February 28, including an intelligence company which specializes in forecasting political violence worldwide, Stead said.

Net income for the quarter rose to $24.7 million, or 37 cents per share, from $23.5 million, or 35 cents per share, a year earlier.

Excluding items, the company, which competes with units of Thomson Reuters Corp, SAP, McGraw-Hill Companies Inc, Accenture Plc and Deloitte, earned 86 cents per share.

Revenue for the quarter increased 12 percent to $383 million.

Analysts on average had expected earnings of 85 cents per share on revenue of $378.4 million, according to Thomson Reuters I/B/E/S.

Shares of the company, which provides analysis and information services in areas including energy, product design and environment, closed at $109.29 on the New York Stock Exchange on Wednesday.

Editing by Joyjeet Das

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