Despite almost daily troubling news from law firms, the parent companies for both LexisNexis and Westlaw have reported solid performances in 2008. Here are some of the numbers:
Thomson Reuters Legal Division
- Fourth-quarter revenues were $887 million, up 6% before currency (up 1% after currency) primarily due to continued strength in international online products, and growth in Westlaw and within software and services led by FindLaw.
- Fourth-quarter operating profit was $282 million, a 4% increase. The corresponding margin of 31.8% represented a 70 basis point improvement from a year ago. Margin expansion was due to strong revenue flow-through and efficiency savings.
- For the full year, revenues increased 6% to $3.5 billion driven by continued strong performance from Westlaw, and double-digit growth from international online products. FindLaw and Elite helped more than offset slowing ancillary (additional services above base subscription) revenues. Print and CD revenues were up 1% for the year.
- Full-year operating profit increased 9% to $1.1 billion, with the related margin increasing 60 basis points to 32.1%.
For the full press release, click here.
- Information provider LexisNexis enjoyed a 22pc increase in profits
For the full article, click here.