The Q1 results reflect the positive impact of efforts to operate its businesses as cost efficiently as possible amidst extraordinary times.
The news and information company reported Q1 EPS of 34 cents compared with 84 cents in the equivalent period last year. The total Q1 operating revenues for the company were $1.4 billion versus $1.7 billion in Q1 of 2008. The decline in revenues reflects the impact on advertising demand of the ongoing weakness in the economies of both the U.S. and the U.K. The management continues to transform all facets of the company ahead of a more favorable economic environment and expected future prospects.
Net income per share-diluted was $0.19 per share in the first quarter 2009, compared to $0.51 per share in the first quarter of 2008.
Losses from limited partnership investments were $0.32 per share, after tax versus EPS of $0.09 a year ago. Insurance underwriting losses totaled $0.07 per share, after tax vs. gains of $0.04 per share last year. Gross margins from management operations slid to 18.9% vs. 19.1% a year ago.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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