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Thursday, June 19, 2014

IHS on acquisition trail after quarterly profit beat, (NYSE: IHS)

Business research provider IHS Inc said it would look for acquisitions in the second half of the year after strong subscription growth helped the company report better-than-expected revenue and profit in the second quarter. IHS - whose businesses include Cambridge Energy Research Associates and technology market research firm iSuppli - said strong profit growth and free cash flow has helped the company reduce debt over the past year, putting it in a position to buy."Now we are down back in our overall leverage range, we have a very active pipeline," Chief Executive Scott Key told Reuters."You should expect us in the second half of the year to announce the types of acquisitions," he said.IHS had $221 million in cash at the end of the quarter.

IHS Inc. (IHS) is a source of information and insight in areas, such as energy and power; design and supply chain; defense, risk, and security; environment, health and safety (EHS) and sustainability; country and industry forecasting, and commodities, pricing, and cost. Shares of IHS traded higher by 0.91% or $1.18/share to $130.19. In the past year, the shares have traded as low as $95.03 and as high as $130.85. On average, 225208 shares of IHS exchange hands on a given day and today's volume is recorded at 385377.