Business
Thomson Reuters Reports Full-Year and Fourth-Quarter 2009 Results
Thomson Reuters Reports Full-Year and Fourth-Quarter 2009 Results
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\n\n\n\nFeb. 24, 2010 (Canada NewsWire Group) -- NEW YORK, Feb. 24 /CNW/ --- Sales building momentum on the back of positive Q4 2009- Full-year revenues and underlying operating margin comparable with 2008- Full-year underlying free cash flow exceeds $2 billion, up 9%- Fourth-quarter total revenues down 3% before currency; Professionaldivision up 1%, Markets division down 5%- Adjusted EPS $1.85 for full-year and $0.44 for fourth quarter- Integration savings target raised by $200 million to $1.6 billion- Board approves $0.04 annual dividend increase to $1.16 per shareThomson Reuters (NYSE: TRI; TSX), the world's leading source of intelligent information for businesses and professionals, today reported results for the full year and the fourth quarter ended December 31, 2009. Despite challenging global markets, the company successfully held annual revenues for 2009, grew underlying profit margins to 21.3% and achieved strong free cash flow growth. For the year, the Professional division grew revenues 3% while Markets division revenues declined 2% due to negative net sales and a difficult prior year comparison (up 6%). The underlying operating profit margin improvement was driven by continuing progress on the integration program, strong cost management and the benefit of currency.(Logo: http://www.newscom.com/cgi-bin/prnh/20090507/NY12658LOGO )Fourth-quarter net sales on a consolidated basis were positive and the best of the year, as an improving operating environment complemented product and service improvements and a reallocation of resources to faster growing markets. Revenues (before currency) declined 3%, with the Professional division up 1% and the Markets division down 5%, as revenue flow-through from weak sales earlier in 2009 held back strong performances in Tax & Accounting, Healthcare & Science and Markets' Enterprise. The underlying operating profit margin was 19.7% in the fourth quarter, reflecting revenue declines and product mix.\"I am pleased with the resilient performance of the company in 2009. Despite the worst global operating environment any of us has faced, Thomson Reuters was able to hold or improve on our prior-year results, with revenues comparable to 2008 and underlying operating margin and free cash flow up on the prior year. I am also pleased that our net sales performance improved significantly through t...