Equifax Reports Higher Sales
ATLANTA - (10/24/05) -- Credit bureau Equifax Inc., boostedby increased demand for its consumer credit reports, said thirdquarter earnings rose 17% to $63 million, or 47 cents a share,compared to the third quarter last year. Third quarter revenuesalso rose 17% to $375 million, based on a strong performance by thecompany's North America Information Services unit (credit reports),personal solutions, and Latin America operations. Equifax said ithas incurred significant expenses in implementing provisions of thenew FACT Act, which requires it to provide one free credit report ayear to consumers, and has assessed a regulatory recovery fee onsome of its businesses to recoup some of the costs. For the firstthree quarters Equifax reported a 14% rise in revenues to $1.1billion, and a 4% increase in net income to $177.2 million, or$1.36 a share, compared to the first nine months lastyear.