Ihs Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended August 31, 2014; Provides Earnings Guidance for the Year Ending November 30, 2014
Sep 18 14
IHS Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended August 31, 2014. For the quarter, revenue was $556,011,000 against $480,288,000 a year ago. Operating income was $73,778,000 against $39,426,000 a year ago. Income from continuing operations before income taxes was $61,734,000 against $23,586,000 a year ago. Income from continuing operations was $46,517,000 or $0.68 per basic and diluted share against $23,470,000 or $0.35 per basic and diluted share a year ago. Net income was $46,517,000 or $0.68 per basic and diluted share against $23,362,000 or $0.35 per basic and diluted share a year ago. EBITDA was $124,346,000 against $81,749,000 a year ago. Adjusted EBITDA was $174,441,000 against $143,853,000 a year ago. Adjusted net income was $102,599,000 against $85,505,000 a year ago. Adjusted EPS was $1.49 against $1.27 a year ago. Cash flow from operations was $167,476,000 against $83,203,000 a year ago.
For the nine months, revenue was $1,648,477,000 against $1,280,956,000 a year ago. Operating income was $216,205,000 against $137,410,000 a year ago. Income from continuing operations before income taxes was $174,792,000 against $109,933,000 a year ago. Income from continuing operations was $134,431,000 or $1.95 per diluted share against $91,024,000 or $1.36 per diluted share a year ago. Net income was $134,431,000 or $1.95 per diluted share against $90,923,000 or $1.36 per diluted a year ago. Net cash provided by operating activities was $542,450,000 against $344,369,000 a year ago. Capital expenditures on property and equipment were $83,314,000 against $65,411,000 a year ago. Intangible assets acquired were $714,000. EBITDA was $365,552,000 against $245,096,000 a year ago. Adjusted EBITDA was $503,349,000 against $392,203,000 a year ago. Adjusted net income was $291,381,000 against $241,055,000 a year ago. Adjusted EPS was $4.23 against $3.61 a year ago. The GAAP effective tax rate was 23% and is trending slightly above the high end of the company guidance range of 20% to 22%.
The company provided earnings guidance for the year ending November 30, 2014. For the year, the company expects revenue to be in a range of $2.225 billion to $2.235 billion, including 6% organic growth on the subscription base. Adjusted EBITDA is expected to be in a range of $685 million to $695 million and adjusted EPS in a range of $5.70 to $5.80 per diluted share.
IHS Announces New Executive Appointments
Sep 3 14
IHS announced two industry veterans have joined its chemicals leadership team as the company continues to expand the breadth and depth of its global chemicals market coverage, and its insight and strategic consulting services for the chemical industry. Stein Raae, a noted international business executive and advisor with more than 30 years of experience at Exxon, Statoil and Norsk Hydro, has joined IHS Chemical as global business director of chlor-alkali/vinyls (CAV), and will be based in the company’s London office. In that capacity, Raae will focus on driving strategic growth for the IHS Chemical CAV business and will oversee commercial management for the segment. Most recently, Raae was chairman and senior partner of Advance Business Partner AS. David S. Byrne has joined the aromatics and fibers team at IHS Chemical as director, styrenics, cumene and phenolics. In that capacity, Byrne’s primary responsibilities will include customer interface and providing market insights relative to the Americas and global markets for these key chemical products. Byrne comes to IHS from Styron LLC in Houston, where he served as feed stocks commercial manager.