Excluding the impact of recent acquisitions, revenue from continuing operations grew 7.3% for fourth-quarter 2013 and 8.5% for fiscal year 2013. Revenue growth from continuing operations in the fourth quarter was driven by a 7.6% increase in Decision Analytics revenue from continuing operations and a 6.7% growth in Risk Assessment revenue.
EBITDA from continuing operations increased 1.4% to $189.3 million for fourth-quarter 2013, with EBITDA margin, from continuing operations, of 45.4%. For fiscal year 2013, EBITDA from continuing operations increased 11.0% to $744.8 million, with EBITDA margin, from continuing operations, of 46.7%.
Within the Decision Analytics segment, revenue from continuing operations grew 7.6% for fourth-quarter 2013, all organic. Growth from continuing operations in the quarter was driven by a strong performance in financial services and solid contributions from insurance and healthcare. Growth in financial services from continuing operations was driven by Argus, which starting with fourth-quarter 2013, became part of the organic growth calculations.
Within the insurance category, revenue growth was 7.3% for the fourth quarter of 2013, all organic. The increase was driven by strong growth in catastrophe modeling and insurance fraud claims solutions. Loss quantification solutions also added to revenue growth. Overall growth was driven by the increased adoption of existing and new solutions and annual invoice increases for certain solutions.
In the financial services category, revenue increased 25.4% in fourth-quarter 2013, all organic and after classifying Interthinx as discontinued operations. The revenue increase was driven by demand for our analytics solutions and services.
In the healthcare vertical, revenue in the fourth quarter grew 6.9%, all organic, driven by growth across all divisions, led by Medicare Advantage related solutions.
In the specialized markets category, revenue declined 3.1% in fourth-quarter 2013. Good growth in commercial weather and climate analytics and environmental health and safety solutions was more than offset by lower activity related to government customers.
Scott Stephenson, president and chief executive officer, said, “Our fourth-quarter results were in-line with our expectations, reflecting good execution across our businesses. For the full year, the revenue growth rate of our insurance-facing businesses accelerated versus the prior year, as we had anticipated. Our healthcare business finished 2013 a little ahead of the plan we communicated on our last earnings call, as the team focused and executed well. We continue to see very strong performance from and good opportunity for Argus within financial services.”
Source: Verisk Press Release