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On Feb.4, 2009,
reported its Q4 FY08 net income plunged 2.6% on lower revenue of $64.00 million or $0.50 per share from $65.70 million or $0.49 per share a year ago on lower revenue. The latest quarterly earnings were also negatively affected by acquisition-related amortization expenses, restructuring, and asset write-down charges. On a non-GAAP basis, net income was down 1.6% to $77.70 million or $0.61 per share, which beat the consensus estimate of $0.59 per share.
Total operating revenue decreased 9.0% to $446.60 million from $490.90 million, due to a decline in revenue in most of its segments and 5.0% loss from exchange rates. The U.S. Consumer Information Solutions' operating revenue declined 8.9% to $208.40 million, due to a decline in revenue from online consumer information solutions, credit market services and direct marketing services. International operating revenue shrank 17.9% to $105.80 million, hurt by lower revenue from Europe, Latin America and Canada. Revenue from TALX grew 2.2% to $75.40 million, led by 11.4% increase in work number, offset by 3.5% drop in tax and talent management services revenues. Sales of North America Commercial Solutions and North America Personal Solutions decreased 6.1% and 3.1% to $19.90 million and $37.10 million, respectively.
EFX formed a partnership with
to jointly develop solutions that provide a 360 degree view of a household's financial position. Additionally, Equifax paid a quarterly dividend of $0.04 per share.
For FY08, EFX's net income remained almost flat at $272.80 million or $2.09 per share, while its operating revenue increased 5.0% to $1.94 billion from $1.84 billion a year ago. Moreover, the company also repurchased 4.50 million shares for $155.70 million during FY08.
Looking forward to Q1 FY09, EFX expects its adjusted EPS to be between $0.52 per share and $0.57 per share and consolidated revenue to be in a similar range as reported for Q4 FY08.
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