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SurePrep a Driver at Thomson Tax, Acc’ting

 SurePrep and Confirmation drove growth in transactions revenue for Thomson Reuter Tax & Accounting for the second quarter ended June 30. The company cited its Latin America business a contributor to recurring revenue growth.

No revenue or growth levels were reported for the individual products. However, Thomson said transactions revenue grew by 27 percent year-over-year, 12 percent organically. Recurring revenue, which represents 73 percent of the segment’s revenue rose 1 percent, 9% organically.

SurepPep was acquired in January while Confirmation was purchased two years ago. Overall, Tax & Accounting reported $229 million for the half, an increase of 5 percent from $217 million in last year’s corresponding period. Growth rose by 10 percent organically. 

The Corporates segment had revenue for $392 million for the most recently ended period, up 5 percent from $373 million., up 7 percent organically. Corporates includes products for corporations and the seven largest accounting firms.

Thomson had $894 million in net income for the second quarter, compared to a loss of $115 million in last year’s corresponding period. Revenue for the most recently ended period was $1.65 billion, a 2-percent increase from $1.51 billion a year ago.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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