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Good Growth for D&B
Business information provider D&B last week reported results for the first quarter of 2008, ended March 31st. Revenue rose 8% on the year (excluding currency effects) to $414.7m, of which the Sales & Marketing Solutions division accounted for $109.7m, up 5%.
Diluted earnings per share were up 18% to $1.14, or on a GAAP basis up 23% to $1.07. Operating income was up 11% on the year to $110.7m, or up 19% to $100.3m on a GAAP basis; and net income was $65.3m, up 10% ($61.2m, up 16% GAAP). All figures are calculated before non-core gains and charges.
The firm's Internet Solutions division (previously known as E-Business Solutions) gained 24% for a revenue of $30.7m. The largest division, Risk Management Solutions, made up the remaining $274.3m (up 7%).
US revenue was up 6% to $321.2m and US operating income up 9% to $118.4m; while International revenues jumped 13% to $93.5m. Of the latter, $17.7m came from Sales & Marketing Solutions, a rise of 16%.
D&B confirmed its full year financial guidance for 2008, including core revenue growth of 8-10% excluding currency effects; operating income growth of 11-13% or $501m-$510m; and diluted EPS growth of 14-16% or $5.19 to $5.29, before non-core gains and charges.
Full results are available on the firm's web site at www.dnb.com .
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