Operating profit for Tax & Accounting was $43 million, up from $34 million in last year's corresponding period. Revenue for the unit was $301 million in the most recently ended period, compared to $270 million a year earlier.

CFO Stephane Bello noted in a recent earnings webcast that the operating margin for the business was down 50 basis points "because of investments we are making in our highest growth business." The company reported that both the corporate and professional sections of Tax & Accounting had 11 percent organic growth. Corporate revenue comprised 44 percent of the total; professional 20 percent.

Company-wide results were not so favorable. Net earnings dropped to $250 million in the third quarter, a decrease of 13.2 percent from $283 million. Revenue dipped by one percent to $3.11 billion in the most recently ended quarter from $3.09 billion a year ago. Foreign exchange rates—the stronger dollar—had a higher-than-normal impact.

But the story continued to be the company's and analysts' emphasis on the financial and risk business. CEO James Smith said that, "s expected revenue growth was negative in the financial business. Nevertheless our financial business continues to make good growth." He said net sales were positive for all regions in the financial and risk segment for the first time since Thomson purchased Reuters in 2008.

Bob Scott

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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