Equifax's 2001 Results Continue Record Performance
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ATLANTA, Jan. 24 /PRNewswire-FirstCall/ -- Equifax Inc. (NYSE: EFX) today announced record 2001 results driven by continued growth in North American operations.
``Equifax reported outstanding earnings and cash flow in 2001, delivering exceptional value to our shareholders,'' said Thomas F. Chapman, Equifax chairman and CEO. ``These great results are attributed particularly to North America as the consumer reporting business continually outperformed each preceding quarter.
``We are proud of our accomplishments in 2001. Equifax achieved eight consecutive quarters of share price growth -- the longest among S&P 500 companies. In addition, Equifax was ranked among the top five in return on equity among Business Week's Best Performers for 2001,'' Chapman said.
2001 Highlights (excludes divested and discontinued operations):
Consolidated revenues increased 8 percent to $1.1 billion.
Earnings per share increased 5 percent to a record $1.15, before
restructuring charges of $60 million ($35 million after tax or $.25 per share), and met analysts' estimates.
Consolidated operating margin of 29 percent was reported for the year.
North American revenues increased 13 percent and operating profit increased 14 percent.
Consumer reporting volumes increased each quarter in 2001 with total volume growth for the year at 20 percent -- an Equifax record.
Equifax's new direct-to-consumer business reported a tripling of revenues over last year. Equifax Credit Watch(TM), which protects consumers against ID theft, was recently named one of 25 ``Best Products of 2001'' by BusinessWeek Magazine.
During the year, Equifax repurchased 2.2 million shares at a total investment of $50 million.
``With powerful momentum fueled by our product, technology and customer initiatives, we move into 2002 as the clear market share leader in North America and the number one or number two position in every one of our global markets,'' said Chapman.
2002 Outlook. Equifax expects reported earnings per share growth of 20 to 22 percent, or $1.38 to $1.40, in 2002, including the impact of SFAS 142, which eliminates the amortization of goodwill. Operating earnings per share are expected to grow 10 to 11 percent, excluding the impact of SFAS 142. Revenue growth for the year is expected at 4 to 6 percent. For the first quarter ending March 2002, Equifax expects earnings per share of $.29 to $.31.
Equifax's year-end teleconference to discuss results will be held today at 9 a.m. (ET). The live audio Webcast of the speakers' presentations will be available at equifax.com . Please note that Microsoft Media Player is required to access the audio Webcast. This can be downloaded from microsoft.com. |
