TransUnion Corp. on Monday reported revenue of $257.5 million for the second quarter ended June 30, an increase of 8.5% compared to the year-ago period. Of the increase, 1.4% was a result of the impact of strengthening foreign currencies.
Operating income was $60.5 million, an increase of 49% compared to the second quarter of 2010. Net income from continuing operations attributable to TransUnion Corp. for the second quarter was $23.2 million compared to a net loss of $27 million in the year-ago period, an increase of $50.2 million.
"TransUnion continues to show revenue increases across all of our business segments," says Bobby Mehta, president and CEO. "Business performance in the second quarter was highlighted by growth in core financial services markets and key industry segments in the USIS [Credit Marketing Services], the emerging markets portion of our international segment and the interactive segment as a whole, as the demand for credit marketing and online services and consumer credit monitoring services continued to improve."
Adjusted EBITDA for the quarter was $91.2 million, an increase of 5.3% compared to the year-ago period, with a corresponding margin of 35.4% in the recent quarter compared to 36.5% a year ago.
Highlights:
• Revenue in USIS Credit Marketing Services increased 17.5% compared to the year-ago period;
• Revenue in International emerging markets increased 24.8%; and
• Revenue in the Interactive segment increased 23.1%.
Total USIS revenue was $165.7 million, an increase of 3.7% compared to the year-ago period.
• Online Data Services revenue was $113.2 million, an increase of 1.4%;
• Credit Marketing Services revenue was $32.3 million, an increase of 17.5%; and
• Decision Services revenue was $20.2 million, a decrease of 2.4% because of an decrease in financial services revenue partially offset by an increase in health care eligibility revenue.
Operating income for USIS was $42.3 million for the second quarter of 2011 compared to $37.4 million for the second quarter of 2010.
2011 Year to Date Results
Total revenue for the six months ended June 30 was $503.4 million, an increase of 8.4% compared to the same period in 2010. Of this increase, 1.2% was a result of the impact of strengthening foreign currencies. Operating income was $115.6 million, an increase of 33.3% compared to the same period a year ago.
The net loss from continuing operations attributable to TransUnion for the six months was $2.1 million compared to a net loss of $2 million for the same period in 2010.
