UPDATE 1-Equifax Q1 profit falls

Mon Apr 21, 2008 11:17pm BST
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April 21 (Reuters) - Equifax Inc (EFX.N: Quote, Profile, Research), the largest U.S. credit reporting company, posted lower quarterly earnings due to expenses related to acquisition of payroll services firm TALX Corp, but the results beat Wall Street estimates.

Atlanta-based Equifax said net income fell to $65.7 million, or 50 cents a share, from $69.0 million, or 54 cents a share, a year ago.

Analysts on average expected the company to earn 47 cents a share, before special items, according to Reuters Estimates.

Revenue rose 24 percent to $503.1 million. Analysts were expecting $490.9 million.

The company said it continues to expect 2008 adjusted earnings of $2.48 to $2.58 a share and revenue growth of 9 percent to 12 percent.

Analysts expected earnings of $2.10 a share, before special items, on revenue of $2.04 billion, for 2008.

Equifax collects and manages credit, financial and demographic information for businesses and individuals. Other major U.S. credit bureaus are Experian Group Inc (EXPN.L: Quote, Profile, Research) and privately held TransUnion LLC. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Vinu Pilakkott)

 
 
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