ATLANTA, GA – Equifax Inc. (NYSE: EFX) today reported record revenue of $343 million for the first quarter of 2005, an increase of 11 percent from the same period last year. Earnings from continuing operations were also a first quarter record, rising to $59 million, a 13 percent increase from the same period last year. Earnings per share from continuing operations (EPS) totaled $0.44, up 16 percent from $0.38 in the first quarter of 2004.
Adjusted for the impact of the Fair and Accurate Credit Transactions Act (“FACT Act”), revenue was $334 million, up 8 percent. Earnings from continuing operations were $57 million, up 10 percent and EPS was $0.43, up 13 percent. A reconciliation of non-GAAP financial measures to the corresponding GAAP measure is included in the attachment to this press release and is also available in the Investor Center on our website at www.equifax.com.
“Equifax achieved one of the best starts to a new year in its 106-year history, with strong performances across all our businesses,” said Thomas F. Chapman, Equifax chairman and CEO. “Our management team is aggressively executing on the three pillars of our growth strategy — information, analytics, and enabling technologies — to build on this momentum.”
First quarter performance highlights compared to the first quarter of 2004
- Cash flow from operations was $40 million, up 29 percent; free cash flow, a non-GAAP measure, was $30 million, up 35 percent;
- Consolidated operating margins increased to 30 percent from 29 percent;
- North America reported revenue of $281 million, up 10 percent;
- North America Information Services reported revenue of $193 million, up 11 percent; excluding the impact of the FACT Act, a non-GAAP measure, $184 million, up 6 percent;
- Marketing Services revenue in North America was $59 million, up 4 percent;
- Personal Solutions increased revenue 19 percent to $30 million;
- Europe revenue grew to $37 million, up 8 percent; and
- Latin America revenue rose to $26 million, a 24 percent increase.
About Equifax
Equifax Inc. is a global leader in turning information into intelligence. For businesses, Equifax provides faster and easier ways to find, approve and market to the appropriate customers. For consumers, Equifax offers easier, instantaneous ways to buy products or services and better insight into and management of their personal credit. Equifax. Information that Empowers.
