TransUnion Reports Second Quarter 2011 Results
(firmenpresse) - CHICAGO, IL -- (Marketwire) -- 08/08/11 -- TransUnion Corp ("TransUnion," or the
"Company") today announced financial results for the quarter ended June 30,
2011. The Company reported revenue of $257.5 million for the second
quarter, an increase of 8.5 percent compared to the second quarter of 2010.
Of this increase, 1.4 percent was due to the impact of strengthening
foreign currencies. Operating income was $60.5 million, an increase of 49.0
percent compared to the second quarter of 2010.(1) Net income from
continuing operations attributable to TransUnion Corp. for the second
quarter of 2011 was $23.2 million compared to a net loss of $27.0 million
for the second quarter of 2010, an increase of $50.2 million. The increases
to operating income and net income from continuing operations attributable
to TransUnion Corp. were primarily due to expenses incurred in the second
quarter of 2010 relating to the change in control transaction.(2)
Adjusted EBITDA for the quarter was $91.2 million, an increase of 5.3
percent compared to the second quarter of 2010, with a corresponding
margin of 35.4 percent for the second quarter of 2011 compared to 36.5
percent for the second quarter of 2010.(2)
"TransUnion continues to show revenue increases across all of our business
segments," said Bobby Mehta, President and Chief Executive Officer.
"Business performance in the second quarter was highlighted by growth in
core financial services markets and key industry segments within USIS, 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."
Total revenue increased 8.5 percent compared to the second quarter of
2010;
Revenue in USIS Credit Marketing Services increased 17.5 percent
compared to the second quarter in 2010;
Revenue in International emerging markets increased 24.8 percent
compared to the second quarter in 2010; and
Revenue in the Interactive segment increased 23.1 percent compared to
the second quarter in 2010.
Adjusted EBITDA increased 5.3 percent compared to the second quarter of
2010, with a corresponding margin of 35.4 percent for the second quarter of
2011 compared to 36.5 percent for the second quarter of 2010.(1)(2)
Total USIS revenue was $165.7 million, an increase of 3.7 percent compared
to the second quarter of 2010.
Online Data Services revenue was $113.2 million, an increase of 1.4
percent compared to the second quarter of 2010;
Credit Marketing Services revenue was $32.3 million, an increase of
17.5 percent compared to the second quarter of 2010; and
Decision Services revenue was $20.2 million, a decrease of 2.4 percent
compared to the second quarter of 2010, due to a decrease in financial
services revenue partially offset by an increase in healthcare 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.(1)
Total International revenue was $54.5 million, an increase of 15.2 percent
compared to the second quarter of 2010. Of this increase, 7.4 percent was
due to the impact of strengthening foreign currencies.
Developed markets revenue was $22.8 million, an increase of 4.1 percent
compared to the second quarter of 2010. Of this increase, 5.1 percent was
due to the impact of strengthening foreign currencies; and
Emerging markets revenue was $31.7 million, an increase of 24.8 percent
compared to the second quarter of 2010. Of this increase, 9.4 percent was
due to the impact of strengthening foreign currencies and 8.2 percent was
due to revenue from our recent acquisition in Chile.
Operating income for International was $16.4 million for the second quarter
of 2011 compared to $14.7 million for the second quarter of 2010.(1)
Total Interactive revenue was $37.3 million, an increase of 23.1 percent
compared to the second quarter of 2010.
Operating income for Interactive was $14.7 million for the second quarter
of 2011 compared to $8.5 million for the second quarter of 2010.(1)
Total revenue for the six months ended June 30, 2011, was $503.4 million,
an increase of 8.4 percent compared to the same period in 2010. Of this
increase, 1.2 percent was due to the impact of strengthening foreign
currencies. Operating income was $115.6 million, an increase of 33.3
percent compared to the same period in 2010.(1) The net loss from continuing
operations attributable to TransUnion Corp. for the six months ended June
30, 2011, was $2.1 million compared to a net loss of $2.0 million for the
same period in 2010. The loss for the six months ended June 30, 2010, was
primarily due to the change in control related expenses incurred in the
second quarter of 2010, while the loss for the six months ended June 30,
2011, was primarily due to the loss on the early extinguishment of debt
resulting from the refinancing of our senior secured credit facility in the
first quarter of 2011.(2)
Adjusted EBITDA for the six months ended June 30, 2011, was $170.5 million,
an increase of 8.1 percent compared to the same period in 2010, with a
corresponding margin of 33.9 percent for 2011 compared to 34.0 percent for
the same period in 2010.(2)
Total cash and cash equivalents at June 30, 2011, was $122.8 million, down
$8.4 million from $131.2 million at December 31, 2010. Year-to-date cash
provided by operating activities of continuing operations was $57.6
million. Other key cash activity included: $38.9 million used for cash
capital expenditures, including $18.8 million paid in the first quarter of
2011 for assets purchased and accrued for in the fourth quarter of 2010;
$16.0 million in costs related to refinancing our senior secured credit
facility net of new proceeds; $7.0 million of scheduled debt repayments;
$4.2 million to purchase the remaining 20% interest in one of our South
African subsidiaries; and net other inflows of $0.1 million.
(1) See page 9 for a discussion on the impact certain items had on
consolidated and segment operating income.
(2) See page 10 for a further discussion on the change in control related
expenses in 2010, the loss on the early extinguishment of debt resulting
from the refinancing of our senior secured credit facility in 2011and the
reconciliation of Adjusted EBITDA to its most directly comparable GAAP
measure, net income (loss) attributable to TransUnion Corp.
TransUnion is a leading global provider of information and risk management
solutions to businesses across multiple industries and to individual
consumers. The Company's technology and services enable businesses to make
more timely and informed credit granting, risk management, underwriting,
fraud protection and customer acquisition decisions by delivering high
quality data, and by integrating advanced analytics and enhanced
decision-making capabilities. TransUnion's interactive website provides
consumers with real-time access to their personal credit information and
analytical tools that help them understand and proactively manage their
personal finances. Through these and other efforts, TransUnion is working
to build stronger economies worldwide. Founded in 1968 and headquartered in
Chicago, TransUnion provides services in 23 countries on five continents.
.
In conjunction with this release, TransUnion will host a conference call
today, August 8, 2011, at 8:00 a.m. (CDT) via a live teleconference to
discuss the business trends supporting second quarter 2011 and year-to-date
financial results. To access the teleconference, go to TransUnion's
homepage at . The discussion will be available via
replay at the same site shortly after the teleconference. This earnings
release is also available on that website. The teleconference dial-in
information is:
Domestic dial-in: 866-770-7051 International dial-in: 617-213-8064
Teleconference code: 15990197
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended. Any
statements made in this press release that are not statements of historical
fact, including statements about our beliefs and expectations, are
forward-looking statements. Forward-looking statements include information
concerning possible or assumed future results of operations, including
descriptions of our business plans and strategies. These statements often
include words such as "anticipate," "expect," "suggest," "plan," "believe,"
"intend," "estimate," "target," "project," "forecast," "should," "could,"
"would," "may," "will" and other similar expressions.
We base these forward-looking statements on our current expectations, plans
and assumptions that we have made in light of our experience in the
industry, as well as our perceptions of historical trends, current
conditions, expected future developments and other factors we believe are
appropriate under the circumstances and at the time such statements were
made. Although we believe that these forward-looking statements are based
on reasonable assumptions, you should be aware that many factors could
affect our actual financial results or results of operations and could
cause actual results to differ materially from those expressed in the
forward-looking statements. Factors that may materially affect such
forward-looking statements include: macroeconomic and industry trends and
adverse developments in the debt, consumer credit and financial services
markets; our ability to maintain the security and integrity of our data;
our ability to deliver services timely without interruption; our ability to
maintain our access to data sources; government regulation and changes in
the regulatory environment; litigation or regulatory proceedings; our
ability to effectively develop and maintain strategic alliances and joint
ventures; our ability to make acquisitions and integrate the operations of
other businesses; our ability to timely develop new services; our ability
to manage and expand our operations and keep up with rapidly changing
technologies; our ability to manage expansion of our business into
international markets; economic and political stability in international
markets where we operate; our ability to effectively manage our costs; our
ability to provide competitive services and prices; our ability to make
timely payments of principal and interest on our indebtedness; our ability
to satisfy covenants in the agreements governing our indebtedness; our
ability to maintain our liquidity; our ability to protect our intellectual
property; our ability to retain or renew existing agreements with long-term
customers; our ability to access the capital markets; further consolidation
in our end customer markets; reliance on key management personnel; and
other factors described under "Risk Factors" and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" of our
Registration Statement on Form S-4 and the section titled "Management's
discussion and analysis of financial condition and results of operations"
of our Quarterly Report on Form 10-Q for the quarterly period ended June
30, 2011. Many of these factors are beyond our control. The forward-looking
statements contained in this press release speak only as of the date of
this press release. We undertake no obligation to publicly release the
result of any revisions to these forward-looking statements, to reflect
events or circumstances after the date of this press release or to reflect
the occurrence of unanticipated events.
Contact
David McCrary
TransUnion
E-mail:
Telephone: 312 985 2860
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 08.08.2011 - 06:30 Uhr
Sprache: Deutsch
News-ID 1028311
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
CHICAGO, IL
Phone:
Kategorie:
Commercial & Investment Banking
Anmerkungen:
Diese Pressemitteilung wurde bisher 96 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"TransUnion Reports Second Quarter 2011 Results
"
steht unter der journalistisch-redaktionellen Verantwortung von
TransUnion (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
