Towers Watson & Co. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company's revenue was $940,967,000 compared to $901,516,000 a year ago. On an organic basis, which excludes the impact of changes in foreign currency exchange rates, acquisitions and divestitures, revenues increased 2% from the prior-year third quarter. Currency translation negatively impacted third quarter revenue by approximately $10 million or 1%. Income from operations was $139,578,000 compared to $108,883,000 a year ago. Income before income taxes was $136,720,000 compared to $110,245,000 a year ago. Net income attributable to controlling interests was $94,916,000 or $1.34 per diluted share compared to $68,234,000 or $0.95 per diluted share a year ago. Adjusted EBITDA for the third quarter of fiscal 2013 was $191 million, or 20.3% of revenues, versus $180 million, or 19.9% of revenues, for the prior-year third quarter. Adjusted EBITDA excludes transaction and integration expenses, non-cash stock-based compensation arising from merger and acquisition activity and for the prior year third quarter, a change in accounting method for pension. Adjusted diluted EPS was $1.60. For the nine months, the company's revenue was $2,721,461,000 compared to $2,591,577,000 a year ago. Income from operations was $346,966,000 compared to $303,026,000 a year ago. Income before income taxes was $344,045,000 compared to $308,365,000 a year ago. Net income attributable to controlling interests was $235,933,000 or $3.29 per diluted share compared to $194,877,000 or $2.68 per diluted share a year ago. Cash flows from operating activities was $286,511,000 compared to $158,509,000 a year ago. Fixed assets and software for internal use was $66,626,000 compared to $91,258,000 a year ago. Adjusted diluted EPS was $4.21. Adjusted EBITDA was $519.39 million compared to $513.03 million a year ago. For the fourth quarter of fiscal 2013, the company expects to report revenues in the range of $870 million to $890 million, reflecting constant currency revenue growth in the range of 6% to 9%, and adjusted diluted earnings per share in the range of $1.23 to $1.28. This guidance assumes an average exchange rate of 1.51 U.S. dollars to the British Pound and 1.30 U.S. dollars to the Euro for the fourth quarter of fiscal 2013. For fiscal 2013, the company expects to report revenues of approximately $3.6 billion, reflecting constant currency revenue growth in the range of 6% to 7%, and adjusted diluted earnings per share in the range of $5.44 to $5.49.

Towers Watson & Co. Presents at 2013 Africa Financial Services Investment Conference, May-08-2013 09:00 AM. Venue: Hilton Metropole, Brighton, United Kingdom. Speakers: Tinashe Muyambo, Head Africa Consulting.

Towers Watson & Co. has introduced new predictive modeling software designed to assess terrorism risk. The product provides both insurers and non-insurers with a better understanding of their terrorism risk exposure, and reflects the nuances in the changing face of terrorism and political violence threats. Sunstone, named after an instrument to locate the sun in an overcast sky, was conceived to bring clarity and transparency to the challenging arena of terrorism analytics. It is underpinned by analyses of events of all scales and types, and the potential impacts generated on an organization's employee well-being and financial health. The consideration of comparatively small attacks, as well as macro events, allows businesses to gain a more precise understanding of their short- and medium-term exposure volatility, as well as the potential for longer term losses. Towers Watson Sunstone can predict a broad range of attack types, enabling a better reflection of potential exposures to events in developing countries that might be situated anywhere on the terrorism and political violence spectrum. Sunstone allows users to adjust threat-weighting inputs according to the sensitivity of specific types of attack, the geographic balance of a company's operations and its broader risk appetite. Cost-severity factors can also be varied for analyses of life and workers compensation portfolios. Users will be able to access the Sunstone product either as a consultancy service or by licensing the software.