Thomson Financial is reporting a two per cent pick-up in first quarter revenues to $389 million, buoyed by sales of the Thomson One suite of products in the North American markets.
First quarter adjusted EBITDA at Thomson Financial increased seven per cent over the year ago period to stand at $101 million. In posting the figures, Thomson contrasted improving trading contitions in the US with continued weakness in Europe.
The firm says demand for the newly packaged Thomson One suite of products continues to grow, as evidenced by a 16% increase in workstations from year-end 2003. Approximately 35% of the workstation increase was a result of new client contract wins. In the quarter, Thomson Financial signed a multi-year contract with Wachovia Securities for more than 19,000 desktops.
Thomson expects full-year 2004 revenue growth to be in the mid-single digit range, excluding the effects of currency translation, driven by organic growth and supplemented by acquisitions.