Thomson Reuters Posts 2009 Results

Thomson Reuters posts its fourth-quarter and full-year results today, and seemed practically unaffected by the global economy. Read the entire press release here. Highlights from the legal division:

  • Full-year revenues were flat as strong growth from FindLaw (up 13%) and subscription-related products (up 6%) were offset by a 5% decline in print and a 13% decline in non-subscription products.
  • Full-year operating profit declined 3% and the corresponding margin declined 60 basis points to 32.2%. Savings from efficiency initiatives and tight cost controls were not enough to offset flow-through on flat revenues, revenue mix and investments in growth initiatives.
  • Fourth-quarter revenues declined 3% as growth from subscription-related products (up 4%) and FindLaw (up 9%) was offset by declines of 13% in print and 14% in non-subscription products.
  • Fourth-quarter operating profit declined 10% and the associated margin was 29.7% versus 32.6% in the prior-year period. Lower revenues, particularly from profitable print and non-subscription products, as well as the impact of foreign exchange, more than offset efficiency savings.
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