Equifax 2000 Annual Report Download - page 15

Download and view the complete annual report

Please find page 15 of the 2000 Equifax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 53

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53

Year Ended December 31,
Revenue Operating Income (Loss)
(In millions) 2000 1999 1998 2000 1999 1998
Information Services
North American Information Services $ 673.4 $ 633.2 $ 616.8 $274.5 $261.0 $248.0
Consumer Information Services 110.5 –– 7.9 ––
Equifax Europe 143.4 148.7 127.0 13.0 3.3 (6.9)
Equifax Latin America 119.5 125.5 103.9 25.0 22.9 21.4
Divested Operations 132.5 175.0 197.6 13.8 18.9 22.8
Other 9.6 9.6 9.6 8.9 8.9 8.9
Total Information Services 1,188.9 1,092.0 1,054.9 343.1 315.0 294.2
Payment Services
Card Solutions 517.5 443.4 357.0 109.7 96.9 78.4
Check Solutions 259.5 237.3 209.1 44.4 38.6 30.9
Total Payment Services 777.0 680.7 566.1 154.1 135.5 109.3
General Corporate Expense (41.8) (36.0) (37.8)
$1,965.9 $1,772.7 $1,621.0 $455.4 $414.5 $365.7
14
MANAGEMENT’S DISCUSSION & ANALYSIS OF RESULTS
OF OPERATIONS & FINANCIAL CONDITION continued....
Information Services
North American Information Services
North American Information Services includes
U.S. Credit Information and Marketing Services,
Mortgage Services, Canadian Operations,
Knowledge Engineering, Consumer Direct and
Equifax Secure. Revenue in this segment
increased 6.3% in 2000 and 2.7% in 1999.
U.S. Credit Information and Marketing
Services’ revenue increased 7.7% in 2000 and
3.2% in 1999. Credit information volume growth
of approximately 11.5% in 2000 and 7% in 1999
were partially offset by average price declines
of about 9% and 4%, respectively. Average
pricing has been impacted by mix of business,
with many of our largest customers driving
increasing volumes at lower than average unit
prices. Many of these customers are also large
customers of the Company’s marketing serv-
ices, which include prescreening, portfolio
review, database and other marketing prod-
ucts. Revenue in Marketing Services grew
28.4% in 2000, compared with 3.2% in 1999.
During 2000, declining demand for information
from mortgage industry customers, caused by
an increasing interest rate environment,
resulted in a 21% contraction in Mortgage
Services’ revenue, compared with a 6.7%
increase in 1999. The growth in 1999 was
achieved despite an 18% decline during the
last half of the year, as compared to the last
half of 1998, as rising interest rates began to
significantly curtail refinancing activity. A
return to revenue growth is anticipated in
2001, if interest rates continue to decline.