Equifax Reports Higher Earnings
ATLANTA – Credit bureau Equifax reported a 3% increase in fourth quarter profits to $62.2 million, fueled by double-digit increases in revenue from its International, TALX and North American Commercial Solutions units.
Fourth quarter revenue was up 11% to $482 million.
“Our solid performance in the fourth quarter completes a year where this management team executed very well and made significant investments in our strategic initiatives, including New Product Innovation, merger and acquisition activity, and Decision 360,” said Richard Smith, CEO of Equifax.
For the full year Equifax reported an 8% rise in revenues to $1.86 billion, and a 14% increase in net income to $266.7 million, based mostly on one-time transactions.
During 2010, the company sold its APPRO loan origination software business, for $72 million, and also sold substantially all of its Direct Marketing Services division for $117 million.