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Exhibit 99.1
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|
1550 Peachtree Street, N.W. Atlanta, Georgia 30309 |
NEWS RELEASE
Contact:
Jeff Dodge | Tim Klein |
Investor Relations | Media Relations |
(404) 885-8804 | (404) 885-8555 |
jeff.dodge@equifax.com | tim.klein@equifax.com |
Equifax Reports Fourth Quarter and Record Full Year 2013 Results;
Board Approves a 14% Increase in Quarterly Dividend to $0.25 per share,
the 4th Consecutive Double-Digit Annual Increase
ATLANTA, February 13, 2014 -- Equifax Inc. (NYSE: EFX) today announced financial results for the quarter and full year ended December 31, 2013. The company reported revenue from continuing operations of $578.5 million in the fourth quarter of 2013, an 8 percent increase from the fourth quarter of 2012. On a non-GAAP basis, adjusted revenue, excluding the impact of the collection of certain reserved 2012 billings, was $571.3 million for the quarter, a 7 percent increase from the fourth quarter of 2012 and an 8 percent increase in local currency.
Fourth quarter diluted EPS from continuing operations attributable to Equifax was $0.62, an increase of 70 percent from the fourth quarter of 2012. On a non-GAAP basis, adjusted EPS from continuing operations attributable to Equifax was $0.91, up 21 percent from the fourth quarter of 2012. This financial measure excludes the following items in 2013: the impact of the collection of certain reserved 2012 billings, a restructuring charge to realign internal resources, an impairment of our investment in Boa Vista Servicos (“BVS”) and acquisition-related amortization expense, net of associated tax impacts. It excludes the following items in 2012: fees related to the CSC Credit Services acquisition, a pension settlement, certain tax items, and acquisition-related amortization expense, net of associated tax impacts as described more fully in the attached Q&A.
For the full year 2013, revenue was $2.3 billion, an 11 percent increase from 2012, both on a GAAP and adjusted basis. Diluted EPS from continuing operations attributable to Equifax was $2.69, a 24 percent increase from $2.18 for the full year 2012. On a non-GAAP basis, full year adjusted EPS from continuing operations attributable to Equifax was $3.60, up 24 percent from the prior year period; this financial measure excludes the same items as those in the fourth quarter of both 2013 and 2012.
“Our fourth quarter performance continues to reflect strong execution on our strategic growth initiatives, including new product innovation, deeper penetration of our key end-user markets, and strategic acquisitions,” said Richard F. Smith, Equifax’s Chairman and Chief Executive Officer. “On a number of measures, 2013 was a record year for Equifax. We ended the year with revenue growth of 11% and 24% growth in Adjusted Earnings per Share. We have a number of exciting initiatives underway and I anticipate we will deliver another year of solid performance in 2014.”
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Equifax Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
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Equifax Inc provided additional information to their SEC Filing as exhibits
Ticker: EFX
CIK: 33185
Form Type: 10-K Annual Report
Accession Number: 0001144204-14-012238
Submitted to the SEC: Thu Feb 27 2014 7:45:43 PM EST
Accepted by the SEC: Fri Feb 28 2014
Period: Tuesday, December 31, 2013
Industry: Consumer Credit Reporting Collection Agencies