Equifax 2006 Annual Report Download - page 14

Download and view the complete annual report

Please find page 14 of the 2006 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 90

  • 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
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90

TO OUR SHAREHOLDERS:
Rick Smith
Chairman and Chief Executive Offi cer
Equifax is winning in the marketplace with game-changing
initiatives. As a result, 2006 was one of the most successful
years in Equifax’s 108-year history. Our Company developed
a powerful strategic plan for future growth. We created a new
vision and a new set of values to guide that growth. We
realigned the organization to better execute our strategic
plan and to make our culture more customer-centric.
Throughout this transformation, our team generated
outstanding fi nancial results. We asked a lot from our
associates, and they delivered. I am very proud of their
accomplishments and extremely excited about the level of
momentum we have created together. In fact, based on 2006
performance, Equifax was named to the FORTUNE 2007
list of America’s Most Admired Companies in the
Financial Data Services category.
A Record Year
As the Company’s fi nancial results demonstrate, 2006 once again refl ects
this management team’s commitment to deliver performance for Equifax
shareholders. Revenue rose 7 percent to $1.55 billion, refl ecting growth
across all businesses. Net income was $275 million, up 11 percent.
Earnings per share, excluding certain items, were $2.01 in 2006
compared to $1.86 in 2005, up 8%.
Approximately 27 percent of our U.S. online transactions
were processed by year-end through one of our enabling
technologies, up from 23 percent in 2005 and working
toward our goal of 50 percent by 2010. Commercial
Solutions grew 66 percent in the U.S. and was
strengthened through the acquisition of Austin-
Tetra, a leading provider of business-to-
business data management solutions
for FORTUNE 1000 companies and
government agencies. Our Personal
Solutions direct-to-consumer business
grew revenue 10 percent over last
year and increased its subscription-
revenue business, which will result
in faster, more profi table growth in
that segment. Latin America contin-
ued to drive 21 percent revenue growth
and margin improvement, and Europe
achieved 8 percent revenue growth while
maintaining its margin.