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Equifax 2012 Full Year Revenues Grew by 10.2%

Equifax continues with a stellar performance.  Its Q4 US Consumer Information Solutions grew by 9% and 16% for the full year.  North American Commercial Solutions returned to growth in Q4 to 4%, for the full year up 1%.

The company reported revenue of $558.1 million in the fourth quarter of 2012, a 9.5 percent increase from the fourth quarter of 2011.  Fourth quarter diluted EPS from continuing operations attributable to Equifax was $0.38 as compared to $0.60 in 2011.  The company recorded a $24.1 million, after tax, non-cash pension settlement charge related to lump sum buyouts of certain pension plan participants during the fourth quarter.

For the full year 2012, revenue was $2.2 billion, a 10.2 percent increase from 2011.  Excluding Brazilian operating results in 2011, a non-GAAP measure, full year revenue was up 12 percent.  Diluted EPS from continuing operations attributable to Equifax was $2.22 compared to $1.87 for the full year 2011.  On a non-GAAP basis, full year adjusted EPS from continuing operations, which excludes the impact of CSC Credit Services acquisition fees, the pension settlement, certain income tax items, and acquisition-related amortization expense, was $2.97, up 18 percent from the prior year period.

“Our team’s rigorous focus on executing key strategic initiatives enabled us to deliver another quarter and full year of strong performance.  We also completed the acquisition of our largest affiliate, CSC Credit Services, significantly enhancing our opportunities for both operating leverage and profitability,” said Richard F. Smith, Equifax’s Chairman and Chief Executive Officer. “We enter 2013 as a strong company with a broader base of opportunities for growth in both revenue and earnings. As a result, we remain confident in our long term business model, expecting to deliver topline growth of 7% to 10%, attractive and expanding operating margins, and adjusted EPS growth of 10% to 13%.”

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Source:  Equifax Press Release

 

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