The result was revenue dropped to $168 million for the recently ended quarter, down 8 percent from $182 million a year ago, The total was off 4 percent in constant currencies. The unit’s EBITDA dropped to $54 million, off 25 percent from $559 million in last year’s corresponding period. Net income fell to $126 million for the quarter, down 30 percent from $180 million a year earlier.
The first half was also affected by the shipment of UltraTax in the last quarter of 2019, a change from the past practice from shipping the tax preparation package in the first quarter. Revenue for the first half of $386 million, off 4 percent from $404 million a year ago.
During this week's earnings webcast, CFO Mike Eastwood said he expects Tax & Accounting’s revenue to rebound in the second half to a. more than 5-percent increase.
Company revenue dropped 2 percent to slightly more than $1.4 billion for the most recently ended quarter. Net earnings fell 30 percent to $126 million from $180 million