WK TAL Sales up 4.4 percent Revenue for Wolters Kluwer's Tax Accounting and Legal division, which includes results for CCH, rose to about $775 million for 2005, up from about $742 million for the previous year.
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However, earnings dropped to $171 million, down 1.2 percent from $173 million in 2004. The company's annual report for 2005 also notes that chief executive Nancy McKinstry received about $2.5 million in total compensation, including a salary of roughly $993,000 and a bonus of $712,000. The total was down slightly from 2004.
CCH Buys DocuMatters Products
CCH has acquired an automated document identification tool, BOCDIP, and a workflow tool, PDFLyer, from DocuMatters of Bradenton, Fla.
CCH says the tools will be integrated into products including the ProSystem fx Tax, Document, and Engagement applications. BOCDIP will be renamed ProSystem fx Scan, while PDFlyer will continue to be marketed under that name. BOCDIP can automatically read documents such as W-2s, K-1s, and income statements. It sorts, bookmarks, and outputs these to a PDF file.
BNA Picks VP
BNA has named David Schulbaum as director of marketing at Tax Management, one of the company's major subsidiaries.
Schulbaum was most recently chief marketing officer at Decision Health, which is owned by United Communication Group, which also owns ATX/ Kleinrock. He has also served as head of publications marketing at American Chemical Society.
Profile intros UDC
Financial Profiles has launched what it calls the Universal Desktop Application as a platform to tie its products together.
The UDA enables users of the company's Profiles+ Forecaster and Profiles+ Professional to work on their applications via the Internet. Remote users who work in an unconnected manner can synchronize when they reconnect.
Morningstar Net Jumps
Morningstar reported $31.1 million in net income for 2005, up three and a half times over the $8.8 million for 2004, as revenue rose by 26.4 percent.
Revenue for 2005 was $227.1 million, compared to $179.7 million the prior year. Advisor income was $72.7 million, a 19.4 percent increase from $60.1 million the prior year. The company says that the Morningstar Advisor Workstation represented 12.9 percent of income for 2005, up from 10.8 percent the prior year. The company charges $5,000 per year for the Office Edition while the Enterprise Edition is priced between $80 and $2,500 per user.
CCH to Distribute XBRL App
CCH has agreed to distribute Rivet's Dragon Tag and Dragon View applications to CCH customers.
The Dragon Tag XBRL enabler is a Word and Excel add-in that lets users create XBRL documents via dragging and dropping them. The Dragon View XBRL viewer lets users view and review documents without needing advanced knowledge of XBRL. View also has automatic ratio calculations.
Forefield Releases Platform
Forefield, the Marlboro, Mass.-based company that markets newsletters for the financial planning industry, has introduced the Forefield Advisor Platform, which includes an advanced search engine.
The platform also offers HTML e-mail concept pieces and expanded commercial printing support. These capabilities enable the company's concept pieces to be created in HTML e-mail and PDF formats. The HTML capability enables advisors to distribute the pieces without having to send them as attachments.
PPC Line Goes on Checkpoint
Thomson Tax & Accounting has launched PPC's complete line of accounting and audit guidance and e-Practice aids on RIA's Checkpoint platform.
The March launch brought more than 90 PPC titles to Checkpoint, including Guide to Public Company Audits, Guide to Audits of Small Business, Guide to Compilation and Review Engagements, and the 1040 Deskbook.