ATLANTA – Equifax Inc. reported a 5% decline in first quarter earnings due to costs related to last year’s $1.4 billion acquisition of TALX Corp.
Net income was negatively impacted by increased amortization expense from the $1.4 billion acquisition of St. Louis-based TALX in May 2007, and interest expense on additional debt incurred to finance the acquisition.
Double-digit revenue growth in the company's North America Personal Solutions, North America Commercial Solutions and International operating segments, and results from TALX, contributed to a 24% increase in revenue in the first quarter.
Separately, Equifax said TALX has settled with the Federal Trade Commission charges it cut its competition in the markets for outsourced unemployment compensation management and verification of income and employment services by buying out its competition in a series of deals.
The FTC claimed TALX's acquisitions boosted its ability to inflate prices unilaterally and cut the quality of services in certain markets.
