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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
|X| ANNUAL REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED AUGUST 31, 2002
|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR TRANSITION PERIOD FROM ________ TO ________
Commission File Number: 1-11869
FACTSET RESEARCH SYSTEMS INC.
(Exact name of registrant as specified in its charter)
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Delaware |
13-3362547 |
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(State or other jurisdiction of |
(I.R.S. Employer Identification No.) |
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incorporation or organization) |
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One Greenwich Plaza, Greenwich, Connecticut |
06830 |
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(Address of principal executive office) |
(Zip Code) |
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Registrants telephone number, including area code: |
(203) 863-1500 |
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Securities registered pursuant to
Section 12(b) of the Act: Common Stock
Name of each exchange on which registered: New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by
check mark whether the registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.
Yes |X| No|_|
Indicate by
check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation
S-K is not contained herein, and will not be contained, to the best of
registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
For 10-K. |_|
The aggregate
market value of the common stock held by non-affiliates of the registrant as of
November 8, 2002 was $584,160,428.
The number of
shares outstanding of the registrants common stock as of November 8, 2002
was 33,784,766.
DOCUMENTS
INCORPORATED BY REFERENCE
Portions of the
Annual Report to Stockholders for the fiscal year ended August 31, 2002 into
Parts I and II.
Portions of the definitive Proxy Statement dated November
26, 2002 into Part III.
ITEM 1. BUSINESS
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FactSet
Research Systems Inc. (the Company or FactSet) is a
provider of global financial and economic information, including fundamental
data on tens of thousands of companies worldwide. Combining more than 200
databases into its own dedicated online service, the Company also provides the
tools to download, combine and manipulate the data for investment analysis. |
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FactSet
receives financial information from over 50 database suppliers. When possible,
the Company seeks to maintain contractual relationships with a minimum of two
database providers for each type of financial data. Contracts with database
suppliers are generally renewable annually and may often be terminated on one
years notice. Many of the database suppliers are in direct competition
with each other and in some cases, with FactSet. Fees for data are either billed
directly to FactSet or its clients. Financial data fees billed to the Company
are on a fixed or royalty (per client) cost basis. |
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Through
FactSets exclusive proprietary communication and software tools, clients
obtain access to the Companys mainframe centers using the Companys
private wide area network. FactSets wide area network provides a
high-speed direct link between the clients local network and the vast data
libraries and powerful applications found on the Companys mainframes. For
an annual subscription fee, clients purchase the right to access the FactSet
system through the private wide area network. |
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An
essential part of the Companys strategy to maintain long-term client
relations involves both consulting services and client training. Thru the
Companys call center system and customer relationship management system,
consulting and sales teams gain improved intelligence about client activities
and are able to develop better tools to service them. Clients are highly
encouraged to take part in the training programs, conducted either at the
clients location or a FactSet office. These training programs are designed
to give clients a comprehensive understanding of FactSets service which is
in addition to technical support available around the clock. |
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FactSet competes in the financial information services industry, which includes
both large and well-capitalized companies, as well as smaller, niche firms.
Domestic and international competitors include market data suppliers, news and
information providers and many of the database providers that supply the Company
with financial information included in the FactSet system. Competitors and
competitive products in the United States include online, CD-ROM, and Internet
database suppliers and integrators and their applications such as The Thomson
Corporation, FAME, Barra Inc., Capital IQ Inc., COMPUSTAT, (a product of Standard
& Poors, a division of The McGraw-Hill Companies), and Multex.com Inc.
Datastream, owned by The Thomson Corporation, and RIMES are the Companys
primary international competitors. These competitors offer products or services
which are similar to those provided by FactSet and in some instances at a lower
price. |
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During
fiscal 2002, FactSet continued to invest in its investment banking and
investment management products. Some of the investments made in the
Companys investment banking products included an overhaul of
FactSets EDGAR SEC filings application and the release of an application
to allow research analysts to annotate stock charts with estimate revisions as
mandated by the SEC. In fiscal 2002, the Companys suite of portfolio
analysis products continued to gain wide acceptance within the investment
management industry. The number of clients subscribing to the Companys
Portfolio Analytics product grew 28% to 320 clients from August 31, 2001. Major
enhancements to the Style, Performance and Risk product (SPAR) have
resulted in an increased subscription rate for the returns-based analysis tool.
The Company also experienced additional client subscriptions to its Portfolio
Optimization product, which is the result of FactSets partnership with
Northfield Information Services, Inc. |
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In
June 2002, the Company released Marquee, its real-time quote product. Marquee
users can access real-time quotes from all major US exchanges, as well as a variety
of newswires and Wall Street research reports. This application includes the
ability to integrate FactSet-hosted client portfolio holdings into a view that
calculates real-time portfolio performance. Also in fiscal 2002, FactSet
completed the integration of its LionShares acquisition, which occurred in
fiscal 2001. LionShares is a division of FactSet that collects and distributes
institutional holdings information. During fiscal 2002, LionShares extended its
coverage to include European mutual funds. Additionally, FactSet has entered
into several relationships as a bulk content supplier of this information to
selected third-party financial information vendors. Portfolio Analysis 2.0, the
Companys holdings-based analysis product, also features LionShares data,
to allow clients to compare their portfolios with portfolios of competitors. |
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Data
Central, the Companys application that facilitates the process of
uploading, maintaining and integrating client data on the FactSet system, was
also released in fiscal 2002. This application allows investment management
clients to upload daily portfolio holdings information to the FactSet system in
order to populate the reports generated in Portfolio Analysis. Equity research
clients archive earnings estimate models using Data Central. Investment bankers
also use the application to store the financial data driving the comparable
analyses they perform to value companies for corporate finance transactions. |
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In
November 2001, the Company opened its new data center in Manchester, New
Hampshire to replace the New York data center. The 12,000 square foot
state-of-the-art facility includes 7,500 square feet of conditioned data center
space. The new facility has enough capacity to serve the Companys needs
for years to come and offers complete redundancy to the existing data center at
FactSets Greenwich, Connecticut headquarters. |
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The
number of employees of FactSet and its subsidiaries totaled 700 as of November
8, 2002. At August 31, 2002, the Company had 685 employees, compared to 612 at
August 31, 2001. |
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Additional
information with respect to the Companys business is included in
FactSets fiscal year 2002 Annual Report to Stockholders incorporated
herein by reference: |
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Five-Year Summary of Selected Financial Data |
page 9 |
|
Managements Discussion and Analysis of Financial Condition and Results of Operations |
pages 10-16 |
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Note 1 to Consolidated Financial Statements entitled Organization and Nature of Business |
page 24 |
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Note 12 to Consolidated Financial Statements entitled Net Capital |
page 31 |
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Note 15 to Consolidated Financial Statements entitled Segments |
pages 34-36 |
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In addition to the other
information contained in this Form 10-K, you should carefully consider the future
factors on page 16 of FacSets fiscal year 2002 Annual Report to Stockholders
in evaluating the Company and its business. |
ITEM 2. PROPERTIES
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Refer to footnote 13 Lease Commitments on page 31 of FactSets
fiscal year 2002 Annual Report to Stockholders for properties
information. |
ITEM 3. LEGAL PROCEEDINGS
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The Company is not a party to any material pending legal proceedings. |
ITEM 4.
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
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No matters were submitted to a vote of security holders during the fourth quarter
of fiscal 2002. |
PART II
ITEM 5.
MARKET FOR REGISTRANTS COMMON STOCK AND RELATED STOCKHOLDER MATTERS
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The following information included in FactSets fiscal year 2002 Annual Report
to Stockholders is incorporated herein by reference: |
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Managements Discussion and Analysis - Share Repurchase Program |
page 14 |
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Managements Discussion and Analysis - Forward-Looking Factors entitled; Dividend Payment |
page 16 |
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Note 3 to Consolidated Financial Statements entitled Common Stock and Earnings Per Share |
page 27 |
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Quarterly Financial Data, Common Stock and Quarterly Stock Prices |
page 38 |
ITEM 6. SELECTED FINANCIAL DATA
|
Refer to the Five-Year Summary of Selected Financial Data included on page 9 of
FactSets fiscal year 2002 Annual Report to Stockholders, which is
incorporated herein by reference. |
ITEM 7.
MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
|
Refer to the Managements Discussion and Analysis of Financial Condition
and Results of Operation (the Managements Discussion and Analysis)
included on pages 10 through 16 of FactSets fiscal year 2002 Annual Report
to Stockholders, which is incorporated herein by reference. |
ITEM 7A.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
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Refer to the Managements Discussion and Analysis Forward-Looking
Factors entitled Market Sensitivities included on page 16 of FactSets
fiscal year 2002 Annual Report to Stockholders, which is incorporated herein by
reference. |
ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
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Refer to the following information included in FactSets fiscal year 2002 Annual
Report to Stockholders, which is incorporated herein by reference: |
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Consolidated Statements of Income |
page 17 |
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Consolidated Statements of Financial Condition |
pages 18-19 |
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Consolidated Statements of Changes in Stockholders Equity |
pages 20-21 |
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Consolidated Statements of Cash Flows |
pages 22-23 |
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Notes to Consolidated Financial Statements |
pages 24-36 |
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Report of Independent Accountants |
page 37 |
ITEM 9.
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURES
PART III
ITEM 10.
DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
|
The Directors and Executive Officers of FactSet Research Systems Inc. as of
November 26, 2002 were as follows: |
Name |
Age |
Position with the Company |
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Philip A. Hadley |
40 |
Chairman of the Board of Directors, |
|
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Chief Executive Officer and Director |
Charles J. Snyder |
60 |
Vice Chairman of the Board of Directors and Director |
Michael F. DiChristina |
40 |
President, Chief Operating Officer and Director |
Townsend Thomas |
39 |
Senior Vice President and Chief Technology Officer |
Michael D. Frankenfield |
38 |
Senior Vice President and Director of Sales and Marketing |
Ernest S. Wong |
48 |
Senior Vice President, Chief Financial Officer, Treasurer and Secretary (1) |
Scott A. Billeadeau |
41 |
Director |
Joseph E. Laird, Jr. |
57 |
Director |
James J. McGonigle |
39 |
Director |
John C. Mickle |
76 |
Director |
Walter F. Siebecker |
61 |
Director |
Howard E. Wille |
74 |
Director |
|
(1) As of September 16, 2002, Mr. Wong assumed the role of Treasurer. |
|
Philip A.
Hadley, Chairman of the Board of Directors, Chief Executive Officer and
Director. Mr. Hadley was named Chairman and Chief Executive Officer of FactSet
on September 5, 2000. Mr. Hadley joined FactSet in 1985 as a Consultant. From
1986 to 1989, Mr. Hadley was our Vice President, Sales. From 1989 to 2000, Mr.
Hadley was Senior Vice President and Director of Sales and Marketing with
FactSet. Prior to joining the Company, Mr. Hadley was employed by Cargill
Corporation. Mr. Hadley received a B.B.A. in Accounting from the University of
Iowa and is a CFA charterholder. Mr. Hadley has served on the Board since
September 2000. |
|
Charles J.
Snyder, Vice Chairman of the Board of Directors and Director. Mr. Snyder, a
co-founder of FactSet in 1978, retired as President and Chief Technology Officer
of the Company on August 31, 1999. At that time he became Vice Chairman of the
Board and agreed to continue as a consultant to the FactSets engineering
and technology groups. In conjunction with the FactSet's announcement of Howard
Wille's retirement as Chief Executive Officer of FactSet effective May 22, 2000,
Mr. Snyder was named our interim Chief Executive Officer. Mr. Snyder acted as
interim Chief Executive Officer of FactSet until September 5, 2000, at which
time Philip A. Hadley was named Chairman and Chief Executive Officer. From 1964
to 1977, Mr. Snyder worked for Faulkner, Dawkins & Sullivan, Inc.,
eventually becoming Director of Computer Research, a position he retained with
Shearson Hayden Stone, Inc. after its acquisition of Faulkner, Dawkins &
Sullivan, Inc. in 1977. Mr. Snyder has been a Director of FactSet since its
formation in 1978. |
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Michael F.
DiChristina, President, Chief Operating Officer and Director. Mr. DiChristina
joined FactSet in 1986 as a Software Engineer and held the position of Director
of Software Engineering from 1990 to 1999. Prior to joining FactSet, Mr.
DiChristina was a Software Engineer at Morgan Stanley & Co. Mr. DiChristina
received a B.S. in Electrical Engineering from Massachusetts Institute of
Technology. Mr. DiChristina has served on the Board since March
2000. |
|
Townsend Thomas,
Senior Vice President and Chief Technology Officer. Mr. Thomas joined the
Company in 1985 as a Software Engineer and held the position of Director of
Systems Engineering from 1990 to 1999. From 1999 until he assumed his current
role, Mr. Thomas was the Director of Engineering and Chief Technology Officer.
Mr. Thomas received a B.S. in Electrical Engineering from Massachusetts
Institute of Technology. |
|
Michael D.
Frankenfield, Senior Vice President and Director of Sales and Marketing. Mr.
Frankenfield joined the Company in 1989 within the Consulting Services Group.
From 1990 to 1994, Mr. Frankenfield held the position of Vice President, Sales
with the Company. From 1995 to 2000 Mr. Frankenfield was Director of Investment
Banking Sales with the Company. From 2000 until he assumed his current role, Mr.
Frankenfield was Director of Sales. Mr. Frankenfield received a B.A. in
Economics and International Relations from the University of Pennsylvania and is
a CFA charterholder. |
|
Ernest S. Wong,
Senior Vice President, Chief Financial Officer, Treasurer and Secretary. Mr.
Wong joined the Company in his current position in June 1996 and assumed the
role of Treasurer in September 2002. Between 1991 and 1996, he held several
positions with Montedison SpA, including Vice President, Finance and Treasurer
of Montedison USA, Inc. and Director of Corporate Finance of Montedison
Corporation of America. From 1988 to 1991, he was Vice President in the North
American Banking Group of The First National Bank of Chicago, and prior to that
time served as Manager of Domestic Finance at PepsiCo, Inc. and Second Vice
President in the Corporate Bank of The Chase Manhattan Bank. Mr. Wong received a
B.A. in Psychology from Cornell University and an M.B.A. in Finance from
Columbia University Graduate School of Business. |
|
Scott A.
Billeadeau, Director. Mr. Billeadeau is a Senior Vice President and Senior
Portfolio Manager with Paladin Investment Associates, LLC (formerly Investment
Advisers, Inc.). Prior to joining Paladin, Mr. Billeadeau managed all the
small-cap and mid-cap assets for TradeStreet Investment Associates, the
investment management subsidiary of Bank of America. Mr. Billeadeau began his
career in 1985 with American Express Financial Advisers, previously IDS
Financial Services, Inc., where he was a quantitative analyst. Mr. Billeadeau
received a B.A. in Economics from Princeton University and is a CFA
charterholder. Mr. Billeadeau is a member of the Audit Committee, Compensation
Committee and the Nominating and Corporate Governance Committee and has served on
the Board since January 2001. |
|
Joseph E. Laird, Jr., Director. Mr. Laird serves as Chairman and Chief
Executive Officer of Laird Squared LLC, an investment banking company that he
formed in January 1999, exclusively to serve the database information services
industry. From 1989 to 1999, Mr. Laird was a Managing Director of Veronis,
Suhler & Associates, a leading specialty merchant bank that serves the media
and information industries. From 1982 to 1989, he was an institutional equity
salesman and a senior securities analyst of database information services for
Hambrecht & Quist. From 1975 to 1982, Mr. Laird was an institutional equity
salesman and investment strategist for PaineWebber Mitchell Hutchins. Mr. Laird
is also a director of The Advisory Board Company, which specializes in best
practices research and analysis related to the management of companies in the
health care industry. Mr. Laird is the Chairman of the Compensation Committee, a
member of the Nominating and Corporate Governance Committee and has served on
the Board since 1993. |
|
James J.
McGonigle, Director. Mr. McGonigle serves as a director and Chairman of the
Board of The Corporate Executive Board Company, which specializes in providing
corporations best practices research and analysis focusing on corporate
strategy, operations and general management issues. Mr. McGonigle has served as
Chairman of the Board of The Corporate Executive Board since March 2001. From
1998 to March 2001, Mr. McGonigle served as the Chief Executive Officer and a
director of the Corporate Executive Board Company. From 1995 to 1998, Mr.
McGonigle served as the General Manager of the corporate division of The
Advisory Board Company. Mr. McGonigle was a consultant in the Financial
Institutions Group at McKinsey & Company from 1990 to 1995. Mr. McGonigle
received a B.A. from the Woodrow Wilson School at Princeton University and a
J.D. from Harvard Law School. Mr. McGonigle has served on the Board since May
2002. |
|
John C. Mickle,
Director. Mr. Mickle has been President of Sullivan, Morrissey Mickle Capital
Management Corporation since 1978. Mr. Mickle is an experienced investment
advisor, having held prior positions with Shearson Hayden Stone, Inc.; UBS-DB
Corporation; and Faulkner, Dawkins & Sullivan, Inc. Mr. Mickle is also a
director of Mickelberry Communications Inc. Mr. Mickle is the Chairman of the
Audit Committee, a member of the Nominating and Corporate Governance Committee
and has served on the Board since November 1997. |
|
Walter F.
Siebecker, Director. Mr. Siebecker serves as President of Burgess Consulting
LLC. Mr. Siebecker was a managing director of the Depository Trust and Clearing
Corporation (DTC). He joined the National Securities Clearing
Corporation (NSCC), a subsidiary of DTC, in 1996 as a Managing
Director in charge of the organizations Annuity Processing Service. Mr.
Siebeckers background is in retail and institutional investment services
in the domestic and global markets. Prior to joining NSCC, Mr. Siebecker was a
consultant to the Trading Services Division at Lehman Brothers and spent 16
years at Salomon Smith Barney Inc., where he was responsible for the Operations
Division as Executive Vice President and Chief Operations Officer. Mr. Siebecker
is a member of the Audit Committee and has served on the Board since November
1997. |
|
Howard E. Wille,
Director. Mr. Wille was a co-founder of FactSet in 1978 and held the position of
Chief Executive Officer from that time until May 22, 2000, the date on which he
retired from active employment with the Company. Mr. Wille continued to serve as
the non-executive Chairman of the Board of FactSet until August 31, 2000. From
1966 to 1977, Mr. Wille was a Partner and Director of Research at Faulkner,
Dawkins & Sullivan, Inc., a Wall Street investment firm, and held a managerial
position with Shearson Hayden Stone, Inc. after its acquisition of Faulkner,
Dawkins & Sullivan, Inc. in 1977. He was President and Chief Investment Officer
of Piedmont Advisory Corporation from 1961 to 1966 and, prior to that time
served as a securities analyst, investment manager and investment counselor for
several firms. Mr. Wille has been a Director of FactSet since its formation in
1978. |
|
The information
set forth under the caption Section 16(a) Beneficial Ownership Reporting
Compliance contained on page 5 of the definitive Proxy
Statement dated November 26, 2002 is incorporated herein by
reference. |
ITEM 11. EXECUTIVE COMPENSATION
|
The information set forth under the captions Information Regarding Named
Executive Officer Compensation and Compensation Pursuant to Stock
Options contained on pages 8 and 9 of the definitive Proxy Statement dated
November 26, 2002 is incorporated herein by reference. |
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
|
The information set forth under the caption Information Regarding Beneficial
Ownership of Principal Stockholders, Directors and Management contained
on pages 6 and 7 of the definitive Proxy Statement dated November 26, 2002 is
incorporated herein by reference. |
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
|
The information set forth under the caption Information Regarding the Board
of Directors and Related Committees on pages 1 through 4 and under the caption
Employment Agreements on page 11 of the definitive Proxy
Statement dated November 26, 2002 is incorporated herein by reference. |
ITEM 14. CONTROLS AND PROCEDURES
|
Within 90 days prior to the filing date of this report, the Companys
management, including the Chief Executive Officer and Chief Financial Officer,
conducted an evaluation of the effectiveness of the Companys disclosure
controls and procedures pursuant to Exchange Act Rule 13a-14. Based on that
evaluation, the Chief Executive Officer and Chief Financial Officer concluded
that the Companys disclosure controls and procedures are effective in
ensuring that all material information required to be filed in this annual
report has been made known to them in a timely fashion. There have been no
significant changes in the Companys internal controls or in other factors
that could significantly affect internal controls, subsequent to the date of
such evaluation. |
PART IV
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
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(a) The following documents are filed as part of this report: |
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The following information from FactSet Research Systems Inc.s fiscal year
2002 Annual Report to Stockholders is incorporated by reference under Items 1,
2, 5, 6, 7, 7A, and 8 and are filed as part of this report as part of Exhibit 13.1: |
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Five-Year Summary of Selected Financial Data |
page 9 |
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Managements Discussion and Analysis |
pages 10-16 |
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Consolidated Statements of Income |
page 17 |
|
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Consolidated Statements of Financial Condition |
pages 18-19 |
|
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Consolidated Statements of Changes in Stockholders Equity |
pages 20-21 |
|
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Consolidated Statements of Cash Flows |
pages 22-23 |
|
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Notes to Consolidated Financial Statements |
pages 24-36 |
|
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Report of Independent Accountants |
page 37 |
|
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Quarterly Financial Data, Common Stock and Quarterly Stock Prices |
page 38 |
|
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The following information from FactSet Research Systems Inc.s definitive
Proxy Statement dated November 26, 2002 is incorporated by reference under
Items 10, 11, 12 and 13: |
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Information Regarding the Board of Directors and Related Committees |
pages 1-4 |
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Section 16(a) Beneficial Ownership Reporting Compliance |
page 5 |
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Information Regarding Beneficial Ownership of Principal Stockholders, Directors and Management |
pages 6-7 |
|
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Information Regarding Named Executive Officer Compensation |
page 8 |
|
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Compensation Pursuant to Stock Options |
page 9 |
|
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Employment Agreements |
page 11 |
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No reports on Form 8-K were filed during the fourth quarter of fiscal 2002.
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EXHIBIT NUMBER |
DESCRIPTION |
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3.1 |
Restated Certificate of Incorporation (1) |
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3.12 |
Amendment to Restated Certificate of Incorporation (10) |
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3.2 |
By-laws (2) |
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4.1 |
Form of Common Stock (1) |
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10.1 |
Form of Consulting Agreement between the Company and Charles J. Snyder (3) |
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10.2 |
Letter of Agreement between the Company and Ernest S. Wong (1) |
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10.31 |
Amendment to 364-Day Credit Agreement, dated March 29, 2002 (4) |
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10.32 |
Amendment to the Three-Year Credit Agreement (10) |
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10.33 |
Retirement Agreement between the Company and Howard E. Wille (2) |
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10.4 |
The FactSet Research Systems Inc. 1994 Stock Option Plan and 1996 Stock Option Plan (6) |
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10.5 |
The FactSet Research Systems Inc. Non-Employee Directors Stock Option Plan (7) |
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10.6 |
The FactSet Research Systems Inc. 2000 Stock Option Plan (8) |
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10.7 |
The FactSet Research Systems Inc. 2001 Employee Stock Purchase Plan (9) |
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13.1 |
The Companys fiscal 2002 Annual Report to Stockholders |
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21 |
Subsidiaries of the Company |
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23 |
Consent of PricewaterhouseCoopers LLP |
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(1)
Incorporated by reference to the Companys Registration Statement on Form
S-1 (File No. 333-4238). |
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(2)
Incorporated by reference to the Companys quarterly report on Form 10-Q for
the third quarter of fiscal year 2000. |
|
(3)
Incorporated by reference to the Companys annual report on Form 10-K for
the fiscal year 1999. |
|
(4)
Incorporated by reference to the Companys quarterly report on Form 10-Q
for the second quarter of fiscal year 2002. |
|
(5)
Incorporated by reference to the Companys quarterly report on Form 10-Q
for the first quarter of fiscal year 1999. |
|
(6)
Incorporated by reference to the Company's Registration Statement on Form S-8
(File No. 333-22319). |
|
(7)
Incorporated by reference to the Companys Registration Statement on Form
S-8 (File No. 333-59839). |
|
(8)
Incorporated by reference to the Companys Registration Statement on Form
S-8 (File No. 333-56870). |
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(9)
Incorporated by reference to the Companys Registration Statement on Form
S-8 (File No. 333-57880). |
|
(10)
Incorporated by reference to the Companys annual report on Form 10-K for the fiscal year 2001. |
SIGNATURES
|
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of Greenwich,
State of Connecticut, on November 26, 2002. |
|
FACTSET RESEARCH SYSTEMS INC. |
|
/s/ ERNEST S. WONG
Ernest S. Wong,
Senior Vice President, Chief Financial Officer, Treasurer and Secretary |
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Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities indicated on November 26, 2002. |
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SIGNATURE |
TITLE |
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/s/ PHILIP A. HADLEY |
Chairman of the Board of Directors, Chief Executive Officer and Director |
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Philip A. Hadley |
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/s/ CHARLES J. SNYDER |
Vice Chairman of the Board of Directors and Director |
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Charles J. Snyder |
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/s/ MICHAEL F. DICHRISTINA |
President, Chief Operating Officer and Director |
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Michael F. DiChristina |
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/s/ TOWNSEND THOMAS |
Senior Vice President and Chief Technology Officer |
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Townsend Thomas |
|
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/s/ MICHAEL D. FRANKENFIELD |
Senior Vice President and Director of Sales and Marketing |
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Michael D. Frankenfield |
|
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/s/ ERNEST S. WONG |
Senior Vice President, Chief Financial Officer, Treasurer and Secretary |
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Ernest S. Wong |
|
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/s/ SCOTT A. BILLEADEAU |
Director |
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Scott A. Billeadeau |
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/s/ JOSEPH E. LAIRD, JR. |
Director |
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Joseph E. Laird, Jr. |
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/s/ JAMES J. McGONIGLE |
Director |
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James J. McGonigle |
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/s/ JOHN C. MICKLE |
Director |
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John C. Mickle |
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/s/ WALTER F. SIEBECKER |
Director |
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Walter F. Siebecker |
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/s/ HOWARD E. WILLE |
Director |
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Howard E. Wille |
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I, Philip A. Hadley,
certify that:
1. I have reviewed this
annual report on Form 10-K of FactSet Research Systems Inc.;
2. Based on my knowledge,
this annual report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of
the circumstances under which such statements were made, not misleading with
respect to the period covered by this annual report;
3. Based on my knowledge,
the financial statements, and other financial information included in this
annual report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the
periods presented in this annual report;
4. The registrants
other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and
15d-14) for the registrant and have:
a) designed such disclosure
controls and procedures to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this
annual report is being prepared;
b) evaluated the
effectiveness of the registrants disclosure controls and procedures as of
a date within 90 days prior to the filing date of this annual report (the
Evaluation Date); and
c) presented in this annual
report our conclusions about the effectiveness of the disclosure controls and
procedures based on our evaluation as of the Evaluation Date;
5. The registrants
other certifying officers and I have disclosed, based on our most recent
evaluation, to the registrants auditors and the audit committee of
registrants board of directors (or persons performing the equivalent
functions):
a) all significant
deficiencies in the design or operation of internal controls which could
adversely affect the registrants ability to record, process, summarize and
report financial data and have identified for the registrants auditors any
material weaknesses in internal controls; and
b) any fraud, whether or
not material, that involves management or other employees who have a significant
role in the registrants internal controls; and
6. The registrants
other certifying officers and I have indicated in this annual report whether
there were significant changes in internal controls or in other factors that
could significantly affect internal controls subsequent to the date of our most
recent evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.
Date: November 26, 2002
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/s/ Philip A. Hadley |
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Philip A. Hadley |
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Chief Executive Officer |
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I, Ernest S. Wong, certify
that:
1. I have reviewed this
annual report on Form 10-K of FactSet Research Systems Inc.;
2. Based on my knowledge,
this annual report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of
the circumstances under which such statements were made, not misleading with
respect to the period covered by this annual report;
3. Based on my knowledge,
the financial statements, and other financial information included in this
annual report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the
periods presented in this annual report;
4. The registrants
other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and
15d-14) for the registrant and have:
a) designed such disclosure
controls and procedures to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this
annual report is being prepared;
b) evaluated the
effectiveness of the registrants disclosure controls and procedures as of
a date within 90 days prior to the filing date of this annual report (the
Evaluation Date); and
c) presented in this annual
report our conclusions about the effectiveness of the disclosure controls and
procedures based on our evaluation as of the Evaluation Date;
5. The registrants
other certifying officers and I have disclosed, based on our most recent
evaluation, to the registrants auditors and the audit committee of
registrants board of directors (or persons performing the equivalent
functions):
a) all significant
deficiencies in the design or operation of internal controls which could
adversely affect the registrants ability to record, process, summarize and
report financial data and have identified for the registrants auditors any
material weaknesses in internal controls; and
b) any fraud, whether or
not material, that involves management or other employees who have a significant
role in the registrants internal controls; and
6. The registrants
other certifying officers and I have indicated in this annual report whether
there were significant changes in internal controls or in other factors that
could significantly affect internal controls subsequent to the date of our most
recent evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.
Date: November 26, 2002
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/s/ Ernest S. Wong |
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Ernest S. Wong |
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Chief Financial Officer |
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