Sales of the venerable UltraTax software was one of the factors in organic revenue growth of 9 percent form Thomson Reuter’s Tax & Accounting Professionals business for the second quarter ended June 30. The company also cited the performance of audit products and unit’s Latin American Business as factor.Revenue for Tax & Accounting was $217 million for the most recently ended period, up 9 percent from $199 million a year ago. The figure was up 10 percent in constant currency and also 9 percent organically.
In a recent earnings webcast, CEO Steve Hasker also pointed to double-digit growth in the indirect tax and confirmation applications in the tax software line.
Overall, Thomson lost $115 million, compared to net income of $1.1 million in last year’s corresponding period, while revenue rose 5 percent to $1.6 billion from $1.5 billion.
