Thomson Financial is reporting a six per cent decline in first quarter revenue and flat earnings compared to a year earlier, as market weaknesses continue to depress bank and brokerage customer spending.
The company says revenues declined 6% to $383 million for the three months ending March 2003, while EBITDA was comparable to the first quarter of 2002 at $94 million.
In a statement, the company says: "Thomson Financial businesses, particularly in the banking and brokerage sector, continued to be affected by ongoing weakness in the global financial services industry."
The company says it made good progress in providing integrated workflow solutions to its global customers, despite the challenging market conditions.