Watson Wyatt Worldwide Inc. reported unaudited consolidated earnings results for the first quarter ended September 30, 2009. For the quarter, the company reported revenue of $401,345,000, income from operations of $43,141,000, income before income taxes of $45,131,000, net income of $29,781,000 or $0.69 diluted per share, cash used in operating activities of $82,686,000, purchases of fixed assets of $6,166,000 compared with revenue of $426,126,000, income from operations of $51,184,000, income before income taxes of $53,322,000, net income of $35,160,000 or $0.82diluted per share, cash used in operating activities of $73,585,000, purchases of fixed assets of $10,013,000 over the same period last year. The company provided earnings guidance for the second quarter and full fiscal of 2010. For the quarter, the company expects revenues to be in the range of $405 million to $420 million and adjusted diluted earnings per share for the quarter are expected to be in the range of $0.81 to $0.86. Adjusted diluted earnings per share exclude severance and merger costs. This guidance assumes an average exchange rate of $1.65 to the GBP for the second quarter of fiscal 2010 and an average rate of $1.40 to the EURU for the second quarter of fiscal 2010. This guidance does not include the impact of the pending merger with Towers Perrin which is expected to close during fiscal year 2010. The forecasted adjusted diluted earnings per share are based on management's estimates for fiscal year 2010 and the second quarter of fiscal 2010. The company expects to incur charges for severance and merger costs during those periods, and the amounts are dependent upon future events. The company will use adjusted diluted earnings per share to evaluate its performance and believes this information is helpful to shareholders. For the full fiscal of 2010, the company is maintaining its previous guidance and expects revenues to be in the range of $1.63 billion to $1.70 billion and adjusted diluted earnings per share to be in the range of $3.50 to $3.60. Adjusted diluted earnings per share exclude severance and merger costs. The foreign currency exchange rate assumptions also remain unchanged. This guidance assumes an average exchange rate of $1.65 to the GBP for fiscal year 2010 and an average rate of $1.40 to the EURO for fiscal year 2010. This guidance does not include the impact of the pending merger with Towers Perrin which is expected to close during fiscal year 2010.

Watson Wyatt Worldwide, Inc. expected to Report Q2 2010 Results on February 1, 2010. This event was calculated by Capital IQ (Created on November 5, 2009).

Watson Wyatt Worldwide, Inc., Q1 2010 Earnings Call, Nov-05-2009