Reuters logo
Towers Watson sees first-quarter below market expectations
August 14, 2012 / 10:31 AM / in 5 years

Towers Watson sees first-quarter below market expectations

(Reuters) - Towers Watson and Co TW.N posted a higher-than-expected quarterly profit, but the employee-benefits consultancy firm forecast first-quarter results below market expectations.

Towers Watson expects per-share earnings of between $1.05 and $1.10 for the first quarter on revenue of $805 million to $825 million.

Analysts had estimated earnings of $1.25 per share on revenue of $852.1 million, according to Thomson Reuters I/B/E/S.

For the fourth-quarter, net income rose to $65.3 million, or 91 cents per share, from $43.9 million, or 59 cents per share, a year earlier.

Excluding items, the company earned $1.25 per share.

Revenue from its benefits segment fell 2 percent to $472.5 million in the fourth quarter. Overall revenue was down 3 percent at $826.2 million.

Analysts had expected earnings of $1.24 per share on revenue of $868.1 million.

Shares of the company closed at $58.55 on Monday on the New York Stock Exchange.

Reporting by Megha Mandavia in Bangalore; Editing by Sreejiraj Eluvangal

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below