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Wolters Kluwer has reported that its Tax & Accounting operation had a 3-percent drop in organic EBITA and a 1-percent increase in revenue for the year ended December 31. The parent to CCH, Wolters Kluwer said that the increases in revenue at that business more than offset declines in revenue in Europe and in its banking business. Tax & Accounting EBITA rose to about $350 million, which was up 2 percent before currency translation. Revenue hit roughly $1.3 billion, up about 5 percent before translated into euros. Net income for the company was about $429 million, a 170-percent jump from 2011's bottom line. Company-wide revenue hit about $4.8 billion, a 1-percent organic increase and up 7 percent before currency translations.

Tax and accounting software performed well in all customer segments, including large CPA firms, corporate customers and small firms. However, the company did not provide revenue figures or percentage changes for any of these areas.

Meanwhile, the makeover in the company executive suite continued with the announcement this week that CFO Boudewijn Beerkens has taken a job as CFO at another Dutch company, SHV. He is being replaced in May by Kevin Entricken, who will become a member of the Wolters Kluwer executive board. At the end of last year, another member of the executive board, Jack Lynch, left the company to take the position of CEO of Renaissance learning in this country. That leaves only McKinstry as the unchanged member of that board.

Entricken has been CFO of Wolters Kluwer Health for three years.

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