Tax and Accounting reported $96 million in operating profit for the most recently ended quarter, up from $84 million a year earlier. EBDITA rose to $128 million, a 10-percent increase from $115 million in last year's corresponding period while revenue hit $373 million in the first quarter, an increase of 7 percent at current currency rates over the prior year's $348 million.

In this week's earnings webcast, CFO Stephane Bello said Tax and Accounting's Professional segement had a 12-percent increase in organic revenue and a 9-percent rise in corporate organic revenue.

Net income hit $320 million, a 10-percent increase from $292 million in last year's first quarter. But currency pushed the company's top line around. First-quarter revenue was up 2 percent in constant currencies, but down 3 percent after currency adjustments. At current rates, revenue reached slightly more than $3 billion, down from $3.13 billion in last year's first quarter.

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