Equifax reported 4th quarter consolidated revenues were down by 4%.  Revenues of the US core business declined by 9%.  Full year revenue was up 5%, EPS increased 4%, and operating margin was 26.4%. 

Richard F. Smith, CEO opened the Q4 Earnings Call with the statement “Our customers are hurting”.  He continued: “2008 was one of the most challenging business environments we have ever faced. Although economic conditions deteriorated throughout the year, we concentrated our efforts on key revenue initiatives to help our clients meet their information and risk management needs in this difficult environment and to better position each of our business units for long-term growth.” 

Equifax reported 4th quarter consolidated revenues were down by 4%.  Revenues of the US core business declined by 9%.  Full year revenue was up 5%, EPS increased 4%, and operating margin was 26.4%.

Richard F. Smith, CEO opened the Q4 Earnings Call with the statement “Our customers are hurting”.  He continued: “2008 was one of the most challenging business environments we have ever faced. Although economic conditions deteriorated throughout the year, we concentrated our efforts on key revenue initiatives to help our clients meet their information and risk management needs in this difficult environment and to better position each of our business units for long-term growth.”

 

In 2008, new product innovation delivered over $70 million of revenue. We also launched four new business initiatives addressing opportunities in Capital Markets, Collections, Identity Management and Government. Settlement Services, our largest new business initiative grew four-fold in 2008, offsetting double digit declines in core Mortgage Reporting revenue. We continue to realize revenue synergies with The Work Number as we have closed sixty new deals in 2008,” said Richard F. Smith. “We reallocated our resources and took the actions needed to reduce operating expenses and maintain strong operating margins. Our business model is resilient, our balance sheet remains strong, and we believe we are well positioned to deliver on our long-term growth objectives. Many challenges remain as we enter 2009. However, we have a diversified business portfolio and solid momentum with our new product initiatives that we expect will continue to deliver solid financial performance.”   Equifax declined in providing guidance beyond Q1, 2009.

BIIA Newsletter February – 2009 Issue