D&B Reports 2011 Results; Provides An Update To The Strategic Technology Investment; And Provides 2012 Financial Guidance

D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today reported results for the fourth quarter and full year ended December 31, 2011. The Company also announced its 2012 financial guidance and expected financial flexibility savings.

“Our 2011 results were in line with our expectations and we continue to make progress on our transformation. We are already reaping benefits from our Strategic Technology Initiative, or MaxCV, as we have accelerated the pace of new product innovation and lowered the cost to innovate. This is reflected in our profit and margin expectations for 2012, and we are very pleased with the progress. We did experience a delay in one component of the project, the data supply chain, which will result in a higher program cost and a delay in the final cutover into 2013. We expect revenue growth to continue to accelerate as we complete the project,” stated Sara Mathew, D&B’s Chairman and Chief Executive Officer.

Fourth Quarter 2011 Results

Diluted earnings per share before non-core gains and charges for the quarter ended December 31, 2011 were $2.21, up 15% from $1.92 in the prior year similar period. On a GAAP basis, diluted earnings per share for the quarter ended December 31, 2011 were $1.93, up 4% from $1.85 in the prior year similar period.

See attached Schedule 3 for a reconciliation of diluted earnings per share before non-core gains and charges to earnings per share on a GAAP basis, as well as the definitions of the non-GAAP financial measures that the Company uses to evaluate the business.

Core and total revenue for the fourth quarter of 2011 was $498.7 million, up 3% before the effect of foreign exchange; (up 4% after the effect of foreign exchange) from the prior year similar period.

Core results for the fourth quarter of 2011 reflect the following by solution set:

• Risk Management Solutions revenue of $290.4 million, up 1% before the effect of foreign exchange (up 2% after the effect of foreign exchange), as compared to the prior year similar period;
• Sales & Marketing Solutions revenue of $177.0 million, up 5% before the effect of foreign exchange (up 6% after the effect of foreign exchange), as compared to the prior year similar period; and
• Internet Solutions revenue of $31.3 million, up 8% both before and after the effect of foreign exchange.

See attached Schedules 4, 5 and 6 for additional detail.

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