Equifax reported revenue from continuing operations of $472.6 million in the first quarter of 2011, a 7 percent increase from the first quarter of 2010. First quarter 2011 net income from continuing operations attributable to Equifax was $57.3 million, a 6 percent increase from the prior year.
“The momentum we developed throughout 2010 carried into our first quarter performance. The individual strengths of our 5 businesses were well demonstrated as performance in International and Personal Solutions exceeded our expectations,” said Richard F. Smith, Equifax’s Chairman and Chief Executive Officer. “We also made good progress on our strategic initiatives around new product innovation, globalizing Decision 360®, broadening our unique data assets and expanding our partnerships and data records in India.
Online Consumer Information Solutions in the US is still flat, offset by good growth in Mortgage Solutions (+18%), Consumer Financial Marketing Services (+11%), International operations (+9%) and NA Personal and Commercial Solutions (+12% and +10%).
Outlook for the year has not changed. Equifax expects good revenue growth for the remainder of the year and margins during the second half of 2011.”
In regard to potential for acquisitions, Smith stated: “The focus is on the midsize acquisitions, and that pipeline is extremely strong. It’s strong in all the business units around the world. It’s probably as balanced and as deep, as far as list of opportunities, as we’ve had since I’ve been here. We’ll always be thoughtful and strategic in that nature and acquire the ones that make the most sense”.
Source: Equifax Earnings Release