Equifax Reports Third Quarter 2011 Results

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Sunday, 30 October 2011 12:08

Equifax Inc. announced on October 26 financial results for the quarter ended September 30, 2011. The company reported revenue from continuing operations of $490.4 million in the third quarter of 2011, a 4 percent increase from the third quarter of 2010. Excluding Brazilian operating results, a non-GAAP measure, due to the deconsolidation of Brazil in the second quarter of 2011, third quarter revenue was up 8 percent.

Third quarter diluted EPS from continuing operations attributable to Equifax was $0.54, up 11 percent from the third quarter of 2010. On a non-GAAP basis, adjusted EPS from continuing operations attributable to Equifax, excluding the impact of acquisition-related amortization expense, was $0.65, up 8 percent from the third quarter of 2010.

"The strong performance we delivered in the third quarter is a direct reflection on the effectiveness of our business strategy and our ability to execute. For the quarter, we grew revenue at double digit rates in our International (excluding Brazil), North America Personal Solutions, and North America Commercial Solutions businesses and at solid single digit rates in USCIS and TALX despite lower year-over-year activity in the mortgage market," said Richard F. Smith, Equifax's Chairman and Chief Executive Officer. "As we look to the future, the fundamentals of our business are strong, and I expect the performance we have delivered this year, including our outlook for the fourth quarter, to position us very well in 2012."

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