We assume no obligation to update any forward-looking statements. As you listen to today's call, we will discuss certain non-GAAP financial measures and supplemental key performance metrics by revenue category, headcount and additional expense detail. This information, including reconciliations to the most comparable GAAP measures, can be found in today's earnings release and under our NeuStar Investor Relations tab on our website, www.neustar.biz.With that, I'm pleased to introduce NeuStar's President and Chief Executive Officer, Lisa Hook. Lisa? Lisa A. Hook Thank you, Dave, and thank you all for joining us today as we report on NeuStar's results for the first quarter of 2012. I will offer some perspective on our strategy, on our execution and how they are reflected in our strong start to the year. Then Paul will walk you through a more detailed look at our results for the quarter. In the first quarter, NeuStar's revenue was approximately $200 million, a 37% increase compared to the first quarter of 2011. While this marks the first full quarter with Information Services as part of our suite of service offerings, revenue increased across all operating segments. This record revenue generation led to a 16% year-over-year increase in adjusted net income. Earnings in the first quarter were in line with our expectations and demonstrate our continued execution of the strategy we outlined in 2011. It is always my intention to state our expectations clearly and then to deliver on these expectations. NeuStar's performance in Q1 shows the progress we're making. Over the past year, NeuStar has continued its expansion from serving originally at the clearinghouse providing number portability to North America's telecommunications industry to becoming a leading provider of addressing, routing and policy management for the communications and Internet sectors. We have used unique proprietary databases and analytical tools to create a second core business of realtime information and analytics based on addressing information. Our momentum in creating the second core business accelerated late last year with the acquisition of TARGUSinfo, which positions NeuStar to become the leading provider of realtime information and analytics derived from addresses, serving the telecommunications, Internet, marketing and media services industries. By broadening both the range of services we offer and the customers we serve, we have created significant opportunities for growth in 2012 and beyond.
In addition to our combination of debt financing for the TARGUSinfo acquisition and share repurchases we have created, an intent to sustain a more efficient capital structure. In the first quarter of 2012, NeuStar demonstrated both the soundness of the strategy we have chosen and our ability to execute on that strategy. We've delivered on our top line growth with revenue increasing by $53.5 million year-over-year.All 3 operating segments contributed to our revenue growth in the quarter. Our Information Services operating segment, that is TARGUSinfo, contributed $35.7 million. Carrier Services revenue grew by $14.8 million, driven by the annual growth escalators and the exploration of the incentive credits related to our NPAC contract. The revenue growth of $3 million in Enterprise Services was driven by an increase in the number of Common Short Codes and domain names under management, as well as expansion of our solutions within Internet Infrastructure Services. We've also maintained the healthy margins that our shareholders expect with an adjusted net income margin of 22%. From a capital structure and capital allocation perspective, we have resumed the 3-year, $300-million share repurchase program originally announced in July 2010. The remaining authorized amount under the share repurchase program was approximately $185 million at the time of relaunch on March 14. Since that date, we've repurchased an additional 655,000 shares for $23.8 million through quarter end. 2012 is once again a pivotal year for NeuStar with significant, challenges and opportunities and it's always my intention to be clear about our priorities and then to report on our fulfillment of them. I'd like to address the 4 areas on which we are most focused this year. Read the rest of this transcript for free on seekingalpha.com