From the Earnings Announcement:
Thomson Reuters today reported results for the first quarter ended March 31, 2015. The company also re-affirmed its full-year 2015 outlook.
- Reported revenues were down 3% as the negative impact of foreign currency reduced revenues by 5%
- Revenues grew 2% before currency
- Organic revenues grew 1%
- Legal’s organic revenues increased 3%
- Financial & Risk’s organic revenues were unchanged
Specific to IP and Science Division of Company
- Revenues were flat as subscription revenue (79% of the segment’s revenues) growth of 3% was offset by an 11% decline in transactions-related revenues as the first quarter of 2014 had certain large one-time sales to Government and Academic customers which did not repeat in the first quarter of 2015.
- EBITDA decreased 17% with a margin of 25.3% compared to 29.6% in the prior-year period. The EBITDA margin decline was due to a lower margin revenue mix and some non-recurring expenditures.
- Operating profit decreased 25% with a margin of 16.0% compared to 21.0% in the prior-year period. The operating profit margin decrease was due to the same items that impacted the EBITDA margin.
- Small movements in the timing of revenues and expenses can impact margins in any given quarter for the Intellectual Property & Science business. Full-year margins are more reflective of the segment’s underlying performance.
Read the Complete Earnings Announcement
Slides From Webcast Presentation (PDF)
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