D&B Exits Legacy Products – Ramps up Data Assets – Improves Match Rate – Plans New CRM Platform and DNBi Releases to Return to High Single Digit Growth in North America
In presenting D&B’s second quarter results D&B’s CEO Sara Mathew stated: “Our second quarter results were largely in-line with expectations, and we remain on pace to achieve our full-year 2011 guidance. While the early sunset of low profit legacy products is pressuring near-term revenue growth, our top line trajectory is expected to improve during the second half of the year as we gain traction on new products. The Strategic Technology Investment is proceeding according to plan and we are committed to meeting our 2012 financial targets.”
Total revenue for the second quarter of 2011 was $416.8 million, up 3% before the effect of foreign exchange (up 5% after the effect of foreign exchange), as compared to the prior year similar period. As a reminder, total revenue for the second quarter of 2010 included the results of our North American Self Awareness Solutions business which we divested in the third quarter of 2010.
Operating income before non-core gains and charges for the second quarter of 2011 was $108.4 million, up 2% from the prior year similar period. On a GAAP basis, operating income was $89.7 million, down 1% from the prior year similar period, due to restructuring charges and expenses related to the Strategic Technology Investment.
Net income attributable to D&B before non-core gains and charges for the second quarter of 2011 was $67.1 million, up 7% from the prior year similar period. On a GAAP basis, net income attributable to D&B for the second quarter of 2011 was $58.5 million, up 5% from the prior year similar period.
North American core revenue was US$ 288.3 million, up 1%. International core revenue was US$ 128.5 million, up 33%.
D&B reaffirmed its guidance for the full year 2011: Core revenue growth of 5% to 8%, before the effect of foreign exchange. Source: D&B Earnings Release
