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BRIEF-Thomson Reuters Q4 adj EPS $0.60, excluding charges

Published 2017-02-09, 07:06 a/m
© Reuters.  BRIEF-Thomson Reuters Q4 adj EPS $0.60, excluding charges
TRI
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Feb 9 (Reuters) - Thomson Reuters Corp TRI.TO :

* Thomson Reuters reports fourth-quarter and full-year 2016 results

* Excluding fourth-quarter charges, adjusted EPS was $0.60

* Says approved an additional $1 billion share buyback program and also approved a $0.02 per share annualized increase in dividend to $1.38

* Fourth-quarter diluted earnings per share (EPS) was $3.03, reflecting gain on sale of IP & Science

* Says in 2017 expects low single-digit revenue growth, before currency

* Says in 2017 expects adjusted EBITDA margin to range between 28.8% to 29.8%, before currency

* Q4 earnings per share view $0.58 -- Thomson Reuters I/B/E/S

* Thomson Reuters CEO James Smith says "encouraged by momentum and foundation we have built heading into 2017, and we are well positioned to deliver on our commitments"

* Says corporate & other costs were $92 million in quarter compared to $154 million

* Says in 2017 expects adjusted EPS of $2.35, before currency

* Q4 F&R unit recurring revenue were up 1%

* Quarterly revenue from financial & risk business $1.51 billion, up 1 percent before currency

* Quarterly revenue from legal business $864 million, flat before currency

* Says made a contribution of $500 million to its US defined benefit pension plan in January 2017

* Incurred $212 million of charges in Q4

* Quarterly revenue from tax & accounting business $416 million, up 2 percent before currency

* About 80% of Q4 charges were taken in F&R business with balance incurred in legal, tax & accounting and corporate

* Quarterly revenue from corporate & other (includes Reuters News) business $77 million, up 5 percent before currency

* Sees 2017 free cash flow between $0.9 billion and $1.2 billion, before currency, reflecting Q4 charge, pension contribution and sale of IP & Science business

* Says pension contribution was funded from free cash flow and is expected to eliminate any material near-term contribution requirements for US plan

* Says overall funded status of pension plan now exceeds 90% based on current market conditions

* Quarterly revenue $2.86 billion, up 1 percent before currency

* Q4 revenue view $2.89 billion -- Thomson Reuters I/B/E/S

* FY 2017 earnings per share view $2.34 -- Thomson Reuters I/B/E/S Source text for Eikon: ID:nPn7CQR67a Further company coverage: TRI.TO

(Bangalore.newsroom@thomsonreuters.com)

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