Now I’d like to turn it over to Rick.Rick Smith Great. Thanks, Jeff. And good morning, everyone. Second quarter for Equifax was the strongest quarter we have had in a number of years. More importantly than that, we are carrying very strong momentum, growth momentum, operating momentum, as we enter into the third and fourth quarter. I’ll talk more about that later on in the discussion. The second quarter came in stronger than we expected. Four business units exceeded and USCIS solidly met the expectations we outlined for you during our first quarter earnings call. And while at the macro level, the environment continued to be challenging. I think you would agree. I am again very optimistic that we will continue to see continued year-over-year improvements for the remainder of 2010. The numbers quickly. The revenue from continuing operations for the quarter was $460.7 million, up 7% on a reported basis and up 6% on a constant dollar basis in the second quarter of 2009. The operating margin was solid 23% when compared to the first quarter margin of 23.5%, and adjusted EPS was $0.58 a share, up from last year and first quarter. Overall, strong quarter for the company. Although each business unit in their own way faced its own challenges and their own opportunities, they all improved as the quarter progressed and have built a solid pipeline of opportunities for the third quarter. And again, an important point there is, as the quarter progressed, each of the business units finished stronger than they started the quarter. Quick look at each of the individual BUs. In the US Consumer Information Solutions, daily online revenue has strengthened just the beginning of the year, which is a great trend. As we ended the quarter, aggregate revenue from accounts with increasing revenue exceeded the aggregate revenue for those accounts with decreasing revenue, the first time since January of 2009. Additionally, our revenue from prescreen services was up 6%, the first year-over-year growth since the first quarter of 2007, but again sequential growth also for USCIS second quarter versus first quarter. So strong growth first time I think since 2007 as well.
Operating margin for USCIS also improved. For the second quarter, USCIS delivered significant improvement in operating margin from the first quarter, exceeding 37%, driven largely by increases in our Credit Marketing Services product line and our Mortgage Solutions products. And we expect that level of margin to continue or higher for the balance of the year for USCIS.International exceeded our expectations for the quarter, growing 7% in local currency, as Europe, Latin America and Canada, all delivered positive growth for the quarter. In the International, our Personal Solutions and our Marketing Services product lines contributed healthy double-digit growth in the quarter. Also, our significant investments we’ve been making in Technology and Analytical Services is paying off in a big way, as we realized double-digit growth from our analytical and decisioning services in Canada, Europe and Latin America. On the TALX, TALX exceeded our expectations again, delivering solid double-digit growth, as the Work Number, Rapid Reporting and Talent Assessment offset the anticipated softness in Tax Management Services. Great quarter again for TALX. North America Personal Solutions delivered stronger revenue growth than we expected along with improved operating margins, a 12% growth in subscription-based revenue as a result of improved average revenue per subscriber due to pricing and mix optimization efforts. While acquiring new subscribers is challenging in the current environment, we expect to sustain the current level of revenue per subscriber. We have also made a number of very good process improvements over operational efficiencies, customer experience, and the rates for conversion and churn. Read the rest of this transcript for free on seekingalpha.com