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D&B Reports 2012 Results; And Provides 2013 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, 2012. The Company also announced its 2013 financial guidance and expected financial flexibility savings.

“2012 proved to be a challenging year primarily due to weakness in our North America business. While we were not satisfied with our overall top line performance, we are pleased with the successful completion of the build and market test of our new data supply chain,” said Sara Mathew, Chairman and Chief Executive Officer. “Looking ahead, we are focused on driving growth in North America by leveraging our new infrastructure and making substantial investments in data and analytics. We believe these actions enhance our existing offerings and allow us to expand into adjacent markets that provide the foundation to return our business to sustainable growth.”

Fourth Quarter 2012 Results

Diluted earnings per share before non-core gains and charges for the quarter ended December 31, 2012 were $2.38, up 8% from $2.21 in the prior year similar period. On a GAAP basis, diluted earnings per share for the quarter ended December 31, 2012 were $2.20, up 14% from $1.93 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 revenue for the fourth quarter of 2012 was $463.1 million, down 1% both before and after the effect of foreign exchange, as compared to the prior year similar period.

Core results for the fourth quarter of 2012 reflect the following by solution set:

  • Risk Management Solutions revenue of $272.4 million, down 3% both before and after the effect of foreign exchange, as compared to the prior year similar period;
  • Sales & Marketing Solutions revenue of $162.0 million, up 3% both before and after the effect of foreign exchange, as compared to the prior year similar period; and
  • Internet Solutions revenue of $28.7 million, down 6% both before and after the effect of foreign exchange, as compared to the prior year similar period.

Total revenue for the fourth quarter of 2012 was $463.1 million, down 7% both before and after the effect of foreign exchange, as compared to the prior year similar period. Total revenue for the fourth quarter of 2011 included the results from businesses that were divested or shut down.

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

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