For the year, Tax & Accounting had $1.079 billion in revenue, up 7 percent from just over $1 billion in 2010. Meanwhile, operating profit grew to $216 million, up 1 percent from $214 million prior year. Revenue in the last quarter of 2010 reached $330 million, a 7-percent increase from $311 million. Fourth-quarter operating profit was $110 million, up 9 percent from $101 million in last year's corresponding quarter. The company said Workflow & Service Solutions revenue grew by 12 percent while Business Compliance & Knowledge Solutions were down by 1 percent because of the drop in print income.
Operating profit was $1.42 billion for the most recently ended year, down 10 percent from $1.58 billion. Revenue for 2010 was $13.07 billion, a 1-percent increase from just under $13 billion the prior year.
Neither CEO Tom Glocer nor CFO Robert Daleo referred to last year's introduction of the OneSource Global Tax Workstation. Before the product's introduction, Glocer promoted it in earnings' Webcasts. But in summing up 2010, he did not list it among the major product rollouts accomplished during the year, nor did their remarks address any impact on results or potential for future impact.