Equifax 2009 Annual Report Download - page 15

indicators for the twelve months ended December 31, 2009, 2008 • We repurchased 0.9 million shares of our common stock on the
and 2007, include the following: open market for $23.8 million during 2009.
• Total debt was $1.17 billion at December 31, 2009, a decrease of
$45.2 million from December 31, 2008.
Key Performance Indicators
Twelve Months Ended
December 31, Business Environment, Company Outlook and Strategy
We continue to be challenged by a difficult operating environment,
(Dollars in millions, causing a reduction in revenue for certain traditional credit-related
except per share data) 2009 2008 2007 services. Also, increased regulation is introducing new complexity in
Operating revenue $ 1,824.5 $ 1,935.7 $ 1,843.0 the marketing of product and service offerings to financial institu-
Operating revenue tions and increasing compliance requirements for our customers.
change (6)% 5% 19% Accordingly, we are further diversifying our revenues by pursuing
Operating income $ 407.6 $ 477.2 $ 486.2 and investing in key strategic initiatives including new product inno-
Operating margin 22.3% 24.7% 26.4% vation, differentiated decisioning solutions leveraging our diverse
Net income attributable data assets and technology, acquiring new data assets and technol-
to Equifax $ 233.9 $ 272.8 $ 272.7 ogies, and international expansion. We are also focused on manag-
Diluted earnings per ing our expenses through the use of LEAN, Workout and other
share $ 1.83 $ 2.09 $ 2.02 process improvement initiatives in order to maintain operating mar-
Cash provided by gins, earnings performance, and cash flow.
operating activities $ 418.4 $ 448.1 $ 453.5
Capital expenditures $ 70.7 $ 110.5 $ 118.5 For 2010, we anticipate GDP growth to be modest, but improving;
employment to see slight improvement during the second half of the
Operational Highlights. year; and home prices to continue to face pressure due to foreclo-
• On October 27, 2009, we acquired IXI Corporation, a provider of sures. We anticipate increasing interest for our services from credit
consumer wealth and asset data, for $124.0 million. On Novem- card issuers as the new credit card regulatory changes became
ber 2, 2009, we acquired Rapid Reporting Verification Company, effective in February of this year. As a result, we expect to see
a provider of IRS tax transcript information and social security revenue growth gradually improve in 2010. Given our outlook and
number authentication services, for $72.5 million. current foreign exchange rates, we expect operating results to be
• During the first and fourth quarters of 2009, we recorded restruc- stable at their current levels during the first half of the year, with
turing charges of $8.4 million and $16.4 million, respectively some increase in performance during the second half.
($5.4 million and $10.4 million, respectively, net of tax).
RESULTS OF OPERATIONS —
TWELVE MONTHS ENDED DECEMBER 31, 2009, 2008 AND 2007
Consolidated Financial Results
Operating Revenue
Operating Revenue Twelve Months Ended December 31, Change
2009 vs. 2008 2008 vs. 2007
(Dollars in millions) 2009 2008 2007 $ % $ %
U.S. Consumer Information Solutions $ 820.7 $ 890.8 $ 969.7 $ (70.1) (8)% $ (78.9) (8)%
International 438.6 505.7 472.8 (67.1) (13)% 32.9 7%
TALX 346.4 305.1 179.4 41.3 14% 125.7 70%
North America Personal Solutions 149.0 162.6 153.5 (13.6) (8)% 9.1 6%
North America Commercial Solutions 69.8 71.5 67.6 (1.7) (2)% 3.9 6%
Consolidated operating revenue $ 1,824.5 $ 1,935.7 $ 1,843.0 $ (111.2) (6)% $ 92.7 5%
EQUIFAX 2009 ANNUAL REPORT 13
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