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Verisk Analytics' CEO Discusses Q2 2012 Results - Earnings Call Transcript

In Mortgage, we continue to see challenges in the market and our revenue declined due to the declining items of forensic review, but I would note that we continue to grow our underwriting solutions at a faster pace than the 2Q estimates for the origination market.

Overall, our consolidated organic revenue growth was 6.4% as we saw both a lighter quarter per storm activity and mortgage continue to weigh on growth. Excluding all historical mortgage business, organic revenue growth was 8.4%. Profitability remained strong with an EBITDA margin of 43.9% in the quarter.

We remain disciplined of our use of capital and are focused on delivering shareholder returns. We brought $68 million of shares in the quarter as we mange our buyback as part of our broader capital allocation plan. We continue to be active in looking at M&A but also continue to maintain our discipline, focusing on assets with a true strategic fit, strong financial model and appropriate value in relation to future growth.

The first half of 2012 has been solid and met expectations overall. I remain confident that behind the numbers we are doing the right things to position our business for future growth driven by delivering quality solutions to our customers.

Now, I'll turn it over to Scott to give you details about our progress in healthcare and other parts of the business.

Scott Stephenson

Thank you, Frank. I'm going to briefly update you on development in several of our business with an emphasis on innovations aimed at our customers' emerging needs and ways in which we are becoming more integral to their operation.

First, in the Healthcare vertical three items, the unified platform initiatives is proceeding in the first phase of integrating our payment integrity businesses has been largely completed. We are one month into hosting of large customer on the platform and then our teams are pleased with the results to-date. The efficacy of our real-time edits are increasing materially inside the new platform. In the next phase, we will leave our enterprise analytic solution into the platform as we also transition more customers to the platform. We are pleased to be meeting important milestones on time as we steam towards 2013 completion of the project.

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