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04 May 2010 ,
Written by Dhruv Tanwar
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Thomson Reuters has reported results for the first quarter ended March 31, 2010.
According to IFRS financial measures, the company logged stagnant revenues of $3.14 billion against $3.13 billion from the same quarter last year. Operating profit was $321 million, down 15% from $376 in the year-ago quarter, and diluted earnings per share (EPS) were $0.15, 35% lower than the $0.23 in the same quarter a year ago. Cash flow from operations was $209 million, down 17% from $251 in the same period a year ago.
According to non-IFRS measures, the company said that despite the flow-through effect of weak 2009 net sales, it recorded ongoing revenues of $3.1 billion, underlying operating profit of $555 million, underlying profit margin of 17.7% and underlying free cash flow of $107 million.
Thomson Reuters also reaffirmed its business outlook for 2010 as was previously communicated in February. It said it expects revenues to be flat to slightly down in 2010 due to the impact of negative net sales in 2009, and expects net sales to strengthen throughout 2010. |