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Equifax Posts Strong Revenue Momentum
Momentum Building Across All Groups Contributes to Strong First Quarter Performance
Atlanta (ots-PRNewswire) - Equifax Inc. (NYSE: EFX) today reported improved first quarter results driven by revenue growth and the strong operating performance of North American Information Services, Payment Services, Europe and Latin America.
First quarter highlights contributing to these results include:
* Revenues for the quarter ending March 31, 2000, climbed 7.0 percent to $451.1 million compared to the prior year period; * Operating income was $87.6 million, with an operating income margin of 19.4 percent; and * First quarter earnings per share were $.31.
"Equifax is off to a great start in 2000, with the performance of all operations showing great momentum," said Tom Chapman, Equifax chairman and chief executive officer. "Earnings per share increased 15.7 percent this quarter, excluding software license sales from first quarter 1999, losses associated with our investments in emerging businesses (Equifax Secure, Knowledge Engineering, Consumer Direct and U.K. card processing) and the 1999 nonrecurring expenses associated with Year 2000. Revenue growth was 7.0 percent this quarter, an acceleration from revenue growth in the fourth quarter of 1999."
Equifax President and Chief Operating Officer Lee A. Kennedy said, "Revenue in U.S. Credit Information and Marketing Services increased 6.1 percent and benefited from strong performance in marketing services. We are signing up new customers in the brokerage industry. We continue to make substantial progress in Europe and posted our third consecutive quarter of profitability."
During the quarter, the Company purchased 296,000 shares of stock for $6.5 million. Approximately $94 million remains available for repurchase; however, Equifax has discontinued its share repurchase activity until it pays down the debt that will be associated with the announced acquisition of the consumer information services businesses of R. L. Polk.
ots Original Text Service: Equifax Inc. Internet: http://recherche.newsaktuell.de
Contact: Marietta Edmunds Zakas, Corp. VP, Investor Relations (USA) 404-885-8304, or email@example.com, or John A. Ford, VP, Communications (USA) 404-885-8309, or firstname.lastname@example.org, both of Equifax Inc.
Web site: http://www.Equifax.comOriginal-Content von: Equifax Inc., übermittelt durch news aktuell