TransUnion reported revenue of $327.5 million, an increase of 8.9% compared with the second quarter of 2013. Weakening foreign currencies accounted for a decrease in revenue of 1.6%. Acquisitions accounted for an increase in revenue of 6.5%.  TransUnion acquired a majority share of 55% the Indian credit bureau CIBIL  In the US it acquired TLO.

  • Operating income was $32.4 million for the second quarter of 2014, compared with $39.5 million for the second quarter of 2013.
  • Adjusted EBITDA1 was $101.7 million, an increase of 7.7% compared with the second quarter of 2013, driven by broad-based revenue growth.TransUnion Q2 2014 ResultsSegment Highlights

U.S. Information Services (USIS)

Total USIS revenue was $206.8 million, an increase of 10.1% compared with the second quarter of 2013.

  • Online Data Services revenue was $140.1 million, an increase of 6.1% compared with the second quarter of 2013, driven by our acquisition of TLO and slight increase in online credit report volume.
  • Credit Marketing Services revenue was $32.4 million, an increase of 4.9% compared with the second quarter of 2013, due primarily to an increase in demand for custom data sets and archive information in the insurance market.
  • Decision Services revenue was $34.3 million, an increase of 37.2% compared with the second quarter of 2013, driven by revenue from our acquisition of eScan Data Systems and other increases in the healthcare market.

Operating income for USIS was $26.5 million for the second quarter of 2014, compared with $37.3 million for the second quarter of 2013. The decrease in operating income was due primarily to an acceleration of $10.2 million of fees for a data matching service contract that we have terminated and in-sourced as part of the upgrade to our technology platform; integration costs associated with our recent acquisitions; and restructuring charges that will help drive long term earnings growth, partially offset by the increase in revenue.

International

International revenue was $63.2 million, an increase of 3.1% compared with the second quarter of 2013. Excluding the impact of foreign currencies and acquisitions, revenue increased 5.9%. Weakening foreign currencies accounted for a reduction in revenue of 7.8%, while acquisitions accounted for an increase in revenue of 5.1%.

  • Developed markets revenue was $24.3 million, essentially flat when compared with the second quarter of 2013. Excluding the impact of foreign currencies, revenue increased 2.0% compared with the second quarter of 2013.
  • Emerging markets revenue was $38.8 million, an increase of 5.4% compared with the second quarter of 2013. Excluding the impact of weakening foreign currencies and acquisitions, revenue increased by 8.2% compared with the second quarter of 2013.

Operating income for International was $4.7 million for the second quarter of 2014, compared with $4.1 million for the second quarter of 2013. Operating income was up slightly due to the increase in revenue, including revenue from our acquisitions of CIBIL and ZipCode, partially offset by integration costs from the recent acquisitions and the impact of weakening foreign currencies.

Interactive

Interactive revenue was $57.5 million, an increase of 11.4% compared with the second quarter of 2013, driven by an increase in the average number of subscribers and volume in our indirect channel.

Operating income for Interactive was $20.3 million for the second quarter of 2014, compared with $15.9 million for the second quarter of 2013. Operating income increased due to the increase in revenue.

Year-to-Date 2014 Results

The Company reported revenue of $630.9 million for the first six months of 2014, an increase of 6.7% compared with the first six months of 2013. Weakening foreign currencies accounted for a reduction in revenue of 1.8%. Acquisitions accounted for an increase in revenue of 5.9%.

  • Revenue for U.S. Information Services was $400.9 million, an increase of 7.9% compared with the first six months of 2013.
  • Revenue for International was $117.4 million, essentially flat when compared with the first six months of 2013. Excluding the impact of foreign currencies and acquisitions, revenue increased 6.2%. Weakening foreign currencies accounted for a reduction in revenue of 9.2%, while acquisitions accounted for an increase in revenue of 3.3%.
  • Revenue for Interactive was $112.6 million, an increase of 9.6% compared with the first six months of 2013.

Operating income was $67.2 million for the first six months of 2014, compared with $83.6 million for the first six months of 2013. The decrease in operating income was due primarily to an increase in depreciation and amortization associated with our recent acquisitions, an acceleration of $10.2 million of fees for a data matching service contract that we have terminated and in-sourced as part of the upgrade to our technology platform; integration costs associated with our recent acquisitions; and restructuring charges that will help drive long term earnings growth, partially offset by the increase in revenue.

To read the full press release click on this link

Source: TransUnion