S&P’s year 2009 revenues declined by 1.7% to $2.6 billion. Including a $46.6 million increase in incentive compensation, a $13.8 million loss on the divestiture of Vista Research and a net benefit of $0.4 million from restructuring actions.

Operating income declined to US$ 1,014 million from US$ 1,070 million in 2008, which reflected $25.9 million in restructuring charges.

Foreign exchange rates negatively impacted revenue by $43.4 million and reduced operating profit by $15.4 million.

Harold McGraw-Hill stated that continued recovery in the corporate new issue market here and overseas enabled S&P to finish 2009 positively.

S&P’s Q4 revenues climbed by 10.6% to $689.2 million in the fourth compared to the same period last year. Including a $26.2 million increase in incentive compensation, operating profit in the fourth quarter grew by 14.6% to $250.0 million compared to $218.1 million last year, which reflected a pre-tax restructuring charge of $6.6 million. Foreign exchange rates benefited revenue by $16.5 million, but negatively impacted operating profit by $8.1 million.

International revenues in Q4 grew by 17.7% to US$ 233.7 million, which accounted for 49.4% of S&P Credit Marketing Services’ tip line compared to 50.1% in Q4 2008.

S&P’s Q4 revenues climbed by 10.6% to $689.2 million in the fourth compared to the same period last year. Including a $26.2 million increase in incentive compensation, operating profit in the fourth quarter grew by 14.6% to $250.0 million compared to $218.1 million last year, which reflected a pre-tax restructuring charge of $6.6 million. Foreign exchange rates benefited revenue by $16.5 million, but negatively impacted operating profit by $8.1 million.

International revenues in Q4 grew by 17.7% to US$ 233.7 million, which accounted for 49.4% of S&P Credit Marketing Services’ tip line compared to 50.1% in Q4 2008.

BIIA Newsletter March I – 2010 Issue