TransUnion Corporation reported revenue of $245.9 million for the first quarter, an increase of 8.3 percent compared to the first quarter of 2010. On a constant currency basis, revenues increased 5.9 percent compared to the first quarter of 2010. Operating income was $55.1 million, an increase of 19.5 percent compared to the first quarter of 2010. The net loss from continuing operations attributable to Trans Union for the first quarter was $25.4 million compared to income of $25.0 million in the first quarter of 2010, a decrease of $50.4 million. This decrease was primarily due to a $59.3 million loss on the early extinguishment of debt as a result of refinancing the Company’s senior secured credit facility in February 2011. On a non-GAAP basis, Adjusted EBITDA for the quarter was $79.3 million, an increase of 11.5 percent compared to the first quarter 2010.
“As market conditions continued to stabilize, TransUnion had revenue improvements across all of our business segments,” said Bobby Mehta, President and Chief Executive Officer. “Revenue growth in the first quarter of 2011 versus the first quarter of 2010 was driven by double-digit revenue increases in Credit Marketing Services in our USIS segment, Emerging Markets in our International segment and the Interactive segment as a whole.”
Source: TransUnion Press Release
