TransUnion reported revenue of $300.8 million, an increase of 6.2% compared to the second quarter of 2012. Weakening foreign currencies accounted for a decrease in revenue of 1.3%. Acquisitions accounted for an increase in revenue of 0.8%.
Operating income was $39.5 million in the second quarter of 2013 compared to an operating loss of $29.3 million in the prior year. The second quarter of 2013 was impacted by a $2.3 million loss on the disposal of a small operating company in Africa and a $2.9 million one-time adjustment for tax expense related to prior years.
“In the second quarter, we generated solid organic constant currency revenue growth,” said Jim Peck, the Company’s president and chief executive officer. “As exhibited in the second quarter, we are directing near-term earnings into the business to drive long-term growth and value creation. This will result in a well-diversified business with a healthy, and sustainable, growth and margin profile.”
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Source: SeekingAlpha.com/News
