Bowne Reports Increases in Revenue, Profit in Fourth Quarter

Revenue from the Bowne Virtual Dataroom (VDR) product offering was $4.1 million for the fourth quarter and $13.1 million for the year 2009. That compares to $3.5 million and $13.7 million for the comparable periods in 2008.

Shareholder reporting services revenue includes compliance reporting, investment management services and translations services revenue. For the fourth quarter of 2009 and full year periods, compliance reporting revenue decreased approximately 4% and 8%, respectively. Investment management services revenue decreased 2% in the fourth quarter and 4% for the full year 2009. The decrease in revenue from shareholder reporting services was primarily the result of pricing pressure and reduced print volumes. Additionally, there was a 14% decline in the number of public filers (due to bankruptcies and consolidations). These declines were partially offset by the addition of new clients and increased services to certain existing clients in 2009. The Company anticipates new revenue growth in 2010 driven by new regulatory initiatives, as well as the implementation of new products and services that were introduced in 2010.