Equifax Earnings Exceed Expectations

Oct.23.07 | About: Equifax Inc. (EFX)

Equifax Inc. said late Monday that third-quarter earnings fell to $67.9M ($0.48/share) from $78.9M ($0.61/share) a year ago even as revenue rose 25% to $492.5M from $394.6M. Excluding items, earnings were $0.58/share, topping analysts' estimates for earnings of $0.56/share, on average. Revenue, however, fell short of the $497.8M average forecast. Operating income grew 7% to $129.2M. "At a time when many of our customers are weathering a tough economic climate, our business model and diversified revenue stream allow us to consistently drive top-line growth and profitability," said Richard Smith, CEO of the financial services provider. The company cited strength in its North America Commercial Solutions, North America Personal Solutions and international units for the revenue growth. Looking ahead, Equifax narrowed its full-year outlook to a range of $2.28-$2.32/share from $2.25-$2.33.

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