Dun & Bradstreet (DNB) (NYSE: DNB) reported GAAP revenue of US$405.7 mil up 2% year over year, both after and before the effect of foreign exchange. As Adjusted revenue up 2% year over year, after the effect of foreign exchange (up 3% before the effect of foreign exchange); and organic revenue up 1% year over year before the effect of foreign exchange. GAAP 0perating income of US$ 76.4 mil.
Dun & Bradstreet updated its financial guidance for the full year 2017:
- Organic revenue growth unchanged at 1% to 3%, before the effect of foreign exchange;
- As Adjusted total revenue growth unchanged at 3% to 5%, before the effect of foreign exchange;
- As Adjusted operating income growth of 0% to 2%, increased from previous guidance of about flat, in the range of (2%) to 2% versus prior year;As Adjusted diluted EPS of (7%) to (4%) versus prior year, increased from previous guidance
- of (9%) to (4%) versus prior year; and
- Free cash flow of $215 million to $245 million, which excludes any potential regulatory fines associated with our China operations, and is unchanged from previous guidance.
“I’m pleased with the solid earnings growth we drove in the second quarter, while at the same time continuing to position the Company for accelerating revenue growth going forward,” said Bob Carrigan, Chairman and CEO of Dun & Bradstreet. “We continue to deliver more of our offerings through modern, as-a-service solutions so our customers can get the critical data and insight they need, where and when they need them.”
Deferred revenue for the Company as of June 30, 2017 was $642.7 million, up 2% year over year; Americas was $569.3 million, up 5% year over year and Non-Americas was $73.4 million, down 17% year over year. After adjusting for the effect of foreign exchange and acquisitions and dispositions, total Company deferred revenue was up 3%, Americas was up 3% and Non-Americas was up 2%, each as compared to the same period last year.