Two Northern Rhode Island dailies, The Call of Woonsocket and The Times of Pawtucket, are merging into a single paper. The new paper will be published six days a week, including a weekend edition on Saturdays, The Public’s Radio, NPR’s Rhode Island member network, reported. The Sunday edition of The Call is being shuttered. The combined staffs include two news reporters, two sports reporters and one photographer. Seth Bromley is editor of both, The Public’s Radio continues.
S&P Global (NYSE: SPGI) today reported fourth quarter and full-year 2017 results. The Company reported fourth quarter 2017 revenue of $1.59 billion, an increase of 14% compared to the same period last year. On an organic basis, fourth quarter revenue also increased 14% with growth in every business segment.
Fourth quarter net income decreased 51% to $263 million and diluted earnings per share declined 50% to $1.02 with net gains from business divestitures bolstering fourth quarter of 2016 results and a charge associated with U.S. tax reform in the fourth quarter of 2017. Adjusted net income for the quarter increased 42% to $474 million due to very strong revenue growth, continued productivity improvements, and a lower effective tax rate. Adjusted diluted earnings per share increased 44% to $1.85 aided by a 2% reduction in diluted shares outstanding. Pre-tax adjustments in the fourth quarter of 2017 totaled $124 million and included a legal reserve, lease exit charges, restructuring, and a pension-related charge. In addition, the Company incurred $149 million of tax expense due to U.S. tax reform, primarily associated with the deemed repatriation of foreign earnings, which was partially offset by a $21 million tax benefit related to prior year divestitures.
For the full year, revenue increased 7% to $6.06 billion. On an organic basis, full-year revenue increased 13%. 2017 net income decreased 29% to $1.50 billion and diluted earnings per share decreased 27% to $5.78. 2017 adjusted net income increased 26% to $1.78 billion and adjusted diluted earnings per share increased 29% to $6.89.
“S&P Global had an exceptional performance in 2017. At the beginning of 2017, we set out enterprise goals to deliver financial performance, improve operational excellence, enhance leadership and accountability, and thoughtfully deploy capital. Our employees around the world did a stellar job of helping us to achieve these goals,” said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. He added, “In 2018, I expect additional progress as we continue to invest in new technologies, new products, new productivity initiatives, and new partnerships.”
For the full year, the Company’s operating profit margin declined by 1,650 basis points to 43% due to net gains from business divestitures in 2016. The adjusted operating profit margin improved by more than 275 basis points for the fourth year in a row, increasing 420 basis points to 47% in 2017 as the Company achieved solid revenue growth and successfully delivered productivity improvements.
more detail at: http://investor.spglobal.com/file/Index?KeyFile=392066474