Explore recent tax code revisions and their significant implications for U.S. businesses. Discover how these changes can impact compliance, growth, and innovation within various industries.
Read more...
Discover how quantum computing is poised to transform accounting, offering unparalleled speeds and efficiency in data processing, financial analysis, and real-time decision-making.
Read more...
Explore the latest innovations in tax compliance technology that are reshaping the accounting industry. Discover how automation, AI, and cloud-based solutions are enhancing efficiency and security.
Read more...
Explore the latest changes in sales tax compliance and economic nexus affecting businesses. Learn how recent rulings and technology are shaping tax strategies.
Read more...
Explore recent leadership changes at Deloitte and PWC, highlighting strategic shifts towards innovation and sustainability within the accounting industry.
Read more...
Payroll isn’t just a back-office function; it’s a strategic engine that powers both financial performance and employee confidence. Every payroll run influences cash flow, compliance, and reporting accuracy, while shaping how employees perceive their value within the organization. This special report reframes payroll as a critical driver of financial discipline and a cornerstone of the employee experience, elevating it from…
Although revenue and net income dropped for 2009, Morningstar has begun restoring benefits that were suspended last year as the company ended the year with an upturn in results in the fourth quarter. It had suspended 100-percent matching contributions to employee 401(k) plans, but is now matching 50 percent of the employee money. It also expects to provide some moderate pay increases in 2010 after keeping most compensation flat last year and is filling some vacant job positions.
Net income fell to $14.4 million in the fourth quarter ended December 31, down 4.7 percent from a year earlier. Revenue in the most recently ended period was $122.6 million, up 2.8 percent from $119.3 million. For the year, earnings fell 25.1 percent to $14.4 million, down from $19.3 million in 2008. Revenue declined to $82.3 million, off 10.9 percent from $92.5 million.
Morningstar changed its bonus plan last year and coupled with the slowdown in financial performance, bonus expense decreased by $5 million. The company actually grew headcount to 2,600 employees from 2,375 as it acquired other operations and hiring at its development center in China.
The company cited lower advisor software revenue as the second-largest factor in the revenue decline as Principia subscriptions dropped to 35,844, off by 17 percent, while revenue from the Advisor Workstation was off slightly with licenses falling 2 percent to 148,392. The biggest revenue loss was from investment research as the Global Analyst Research Settlement expired in July. That source had produced $5.8 million in income in the fourth quarter of 2008.
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Although revenue and net income dropped for 2009,