Information service provider Thomson Corporation reported a rise in revenue by 8% in the third quarter, up by $2.39 billion. The company attributes the increase to growth in existing businesses and contributions from acquisitions.
Earnings for the quarter were $0.47 per share compared to $0.52 per share in the third quarter of 2004. After adjusting for one-time items, discontinued operations and the normalization of the quarterly effective tax rate, underlying earnings were $0.51 per share in the quarter compared to $0.47 per share in the previous-year period.
“Revenues were driven by double-digit growth in online products, software and services,” said Richard J. Harrington, president and CEO of Thomson.
He claimed Thomson further strengthened its capital structure in the quarter by refinancing a portion of its debt, which included the issuance of $400 million of 30-year bonds, the first time the company issued a 30-year debt.
Operating profit increased 6% to $522 million, driven by improvements in all market groups. In the third quarter, operating profit margins increased in three of the four market groups, but declined slightly on a consolidated basis.
Earnings attributable to common shares were $308 million, or $0.47 per share, in the third quarter of 2005 compared to $344 million, or $0.52 per share, in the same quarter of 2004.