Magazine article Editor & Publisher

Thomson Reports Higher Earnings

Magazine article Editor & Publisher

Thomson Reports Higher Earnings

Article excerpt

THOMSON CORP. REPORTED 1994 earnings surged to $427 million, or 74[cents.] a share, from $277 million, or 48[cents.] a share, in 1993.

Excluding special items, including a $100-million charge in 1993 to restructure newspaper operations, earnings rose 21.3% in 1994, as revenues rose to $6.35 billion, from $5.85 billion in 1993, and operating profit surged to $686 million, from $502 million.

The Toronto-based conglomerate said it set new records for operating profit, cash flow and earnings, as all operating groups performed to goals last year.

"We have successfully emerged from a period of transition as we responded to fundamental changes in many of our marketplaces and to competitive challenges," the company said. "We have established a modern and efficient base, and the financial benefits are beginning to be reflected in our operating results."

Reorganized North American newspapers reversed their declining profit trend last year. Comparing continuing operations, newspaper revenues rose 5.5% and operating profit 10.2%, excluding the effects of a weak Canadian dollar. Newspaper ad revenues accelerated in the second half to finish 1994 5. …

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