Core revenue for the second quarter of 2014 was $393.0 million, up 2% both before and after the effect of foreign exchange, as compared to the prior year similar period.
Core revenue results for the second quarter of 2014 reflect the following by solution set:
- Risk Management Solutions revenue of $255.9 million, down 1% year over year both before and after the effect of foreign exchange; and
- Sales & Marketing Solutions revenue of $137.1 million, up 8% year over year both before and after the effect of foreign exchange.
Operating income before non-core gains and charges for the second quarter of 2014 was $91.3 million, down 8% from the prior year similar period; results were impacted by planned strategic investments to drive long-term growth. On a GAAP basis, operating income for the second quarter of 2014 was $85.0 million, down 10% from the prior year similar period.
Free cash flow for the first six months of 2014 was $200.0 million, compared with $208.0 million in the prior year similar period. Net cash provided by operating activities for the first six months of 2014 was $221.7 million, compared with $234.7 million in the prior year similar period. The Company ended the second quarter of 2014 with $285.9 million of cash and cash equivalents and total gross debt of $1,566.9 million.
“I’m pleased to report the company has posted its third consecutive quarter of top line growth and second quarter results came in ahead of our expectations,” said Bob Carrigan, President & CEO of Dun & Bradstreet. “We are investing in our strategy with a focus on helping our customers succeed in today’s increasingly data-driven world, and delivering long term sustainable growth as well as value for our customers.”
Source: D&B Press Release
