Consultancy IHS' 2013 outlook below Wall St. view
ENGLEWOOD, Colo. (AP) — Research firm IHS said Wednesday that it expects profit to grow in 2013 from this year, but Wall Street analysts had predicted a bigger increase.
The consultancy, which provides and analyzes information for businesses and governments, predicted net income, excluding one-time items, of $4.23 to $4.43 per share for the year ending in November 2013.
That's an increase of about 13 percent from IHS' profit forecast for the year ended in November, of $3.77 to $3.89 per share.
Still, analysts polled by FactSet predicted still higher earnings in fiscal 2013, of $4.58 per share.
IHS also on Wednesday predicted revenue of $1.64 billion to $1.71 billion for next year, in line with analysts' expectations of $1.69 billion. For this year, the Englewood, Colo., company expected revenue of $1.52 billion to $1.54 billion.
The company will report full results for the fourth quarter and fiscal 2012 on Jan. 8.
Shares were inactive in premarket trading Wednesday. They have gained 6 percent in the last 52 weeks, but are off 23 percent in the past three months.