Reed Elsevier Announces 2009 Results

Reed Elsevier, parent company of LexisNexis, announced 2009 full-year results late last week. Results from the press release:

LexisNexis (42% of adjusted operating profits)

  • Revenue growth +14%, adjusted operating profit +13%, at constant currency, including full year contribution of ChoicePoint acquisition
  • Core law firm markets flat in US and marginally lower internationally reflecting downturn in legal services industry
  • US directory listings well behind prior year; corporate, government and academic markets lower
  • Risk Solutions sees strong growth in Insurance and Government markets but decline in other markets; profits grow strongly

The outlook for LexisNexis:

  • Trends in US legal and international markets are expected to continue, reflecting pressures on the legal industry and late cycle effects on subscription revenues. Good growth is continuing in the insurance segment in Risk Solutions. Adjusted operating margin is expected to be lower, reflecting a weak revenue environment and increasing product, marketing and infrastructure spend in the legal businesses, partially mitigated by continuing cost actions and the growing profitability of the ChoicePoint business.

The press release can be found here, and a detailed analysis can be found on the Law Librarian Blog.

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