Equifax Has Strong Second Quarter
ATLANTA (07/25/06) -- Credit bureau Equifax Inc. reported that net income for its second quarter rose 11% to $69.6 million, or 53 cents a share. Second quarter revenues were up 7% to $387.7 million. Second quarter financials included a $14.1 million non-taxable gain from litigation with certain selling shareholders of Navient, Inc., a 2002 acquisition; and an $8.7 million loss related to litigation involving the company's Personal Solutions unit. For the first six months of the year Equifax reported a 9% rise in net income to $132.2 million, or $1.03 a share, compared to the first half in 2005. Revenues for the first six months were up 8% to $761.7 million.