Equifax Posts Strong 13 Percent EPS Growth for First Quarter 2001

Apr 18, 2001, 01:00 ET from Equifax Inc.

    ATLANTA, April 18 /PRNewswire/ -- Equifax Inc. (NYSE:    EFX) today reported
 outstanding first quarter results driven by accelerating revenue growth and
 excellent profit performance by both its Information Services and Payment
 Services Units.
 
     First quarter highlights include:
 
     *  Revenue growth of 6.4 percent to $479.7 million, compared to 2000 first
        quarter revenue of $451.1 million;
     *  An 11.9 percent increase in operating income to $99 million in 2001
        compared to $88.5 million in 2000;
     *  A 10.1 percent increase in EBITDA over 2000, to $136.1 million; and
     *  A 13 percent increase in first quarter earnings per share to $.35.
 
     "Equifax continues to achieve profitable growth despite a slowing global
 economy and especially adverse conditions in the U.S.," said Tom Chapman,
 Equifax Chairman and Chief Executive Officer.  "Our first quarter 2001 was
 superb as earnings per share increased 13 percent and revenue grew at
 6.4 percent.  Revenue growth was even better at 8.8 percent when the effects
 of currency exchange are excluded.  Our remarkable performance is attributable
 to the strong profit growth in the core U.S. Reporting and U.S. Card Solutions
 businesses, new product initiatives and improved operating productivity.
     "Our continued focus on innovation and growth is exemplified by our
 Consumer Services Internet business," Chapman continued.  "We were the first
 to offer consumers their credit profile securely over the internet using our
 patent pending authentication technology.  On March 19, 2001, we launched with
 great success ScorePower(TM), an online consumer credit score service jointly
 developed in strategic alliance with Fair, Isaac and Co.  Just last week we
 made available nationally our unique and powerful Equifax Credit Watch(TM)
 identity fraud detection service.  Demand for all our consumer products was
 very positive for the quarter.
     "Another exciting initiative with tremendous potential is our Small
 Business Exchange announced in January.  This first-of-its-kind commercial
 lending service continues to build membership, as well as momentum, and is on
 target to be operational in the third quarter of 2001.  We are receiving
 extremely positive feedback from the members of this exchange."
 
     FIRST QUARTER BUSINESS RESULTS
 
     INFORMATION SERVICES:
     Information Services reported revenue of $285.1 million and operating
 income of $83.0 million in the first quarter.  This is a 4.2 percent increase
 in revenue and 12.2 percent increase in operating income, 14.5 percent
 normalized for acquisitions and divestitures, versus first quarter 2000.
 Revenue increased 6.6 percent excluding currency impact.
     Revenue in North American Information Services was $181.9 million versus
 $163.6 million in 2000, an increase of 11.2 percent led by growth in Credit
 Services, Mortgage Services, and Internet Initiatives, especially Consumer
 Services which more than tripled over first quarter 2000.  Operating income in
 North American Information Services increased 20.2 percent to $72.2 million in
 the 2001 quarter.
     Revenue in Equifax Latin America was $27.2 million and operating income
 was $5.3 million for the first quarter.  Revenue in local currency was up 2.7
 percent.
     Equifax Europe revenue was slightly below last year at $35.8 million, but
 in local currency revenue was up 8.0 percent.  This group reported an
 operating loss of $.4 million on lower volumes in the UK and Spain due to the
 economic slowdown.
 
     PAYMENT SERVICES:
     Payment Services increased revenue 9.7 percent to $194.6 million and
 increased operating income 10.6 percent to $28.7 million in the first quarter
 of 2001.  Revenue grew 12.1 percent excluding currency impact.
     Card Solutions generated revenue of $130.9 million in the first quarter, a
 9.8 percent increase over revenue of $119.1 million in 2000.  This increase
 was driven by merchant and card processing in the United States, which grew
 12.2 percent, and growth in the international card processing operations in
 Brazil and United Kingdom.  Operating income increased $5.3 million in Card
 Solutions to $22.6 million, led by a 21.8 percent increase in the United
 States and a $1.2 million improvement in Brazil.
     Check Solutions reported first quarter revenue of $63.7 million, a
 9.3 percent increase over 2000, as this business continues to grow both
 domestically and internationally.  The U.S. check operation experienced 12.3
 percent revenue growth in the quarter.  In the U.K., revenue grew 9.7 percent
 in local currency; however, unfavorable exchange rates resulted in a
 0.5 percent decline in U.S. dollars.  Operating income for the quarter was
 $6.1 million, $2.6 million lower than the prior year quarter due to higher
 check loss experience.
 
     TELECONFERENCE
     There will be a teleconference to discuss the first quarter earnings on
 Wednesday, April 18, 2001, at 9:00 a.m. (ET).  The live audio webcast of the
 speakers' presentations will be available at www.equifax.com .  Please note
 that Real Network's Real Player or Microsoft Media Player is required to
 access the audio webcast.  This can be downloaded from www.real.com or
 www.microsoft.com/windows/mediaplayer .
 
     Equifax (www.equifax.com ), a worldwide leader in enabling and securing
 global commerce, brings buyers and sellers together through its information,
 transaction processing, authentication direct marketing, customer relationship
 management and consumer services businesses.  Equifax customers include
 financial services, retail, credit card, telecommunications/utilities,
 transportation, information technology, e-commerce and healthcare industries.
 Equifax knowledge, expertise, and security tools provide value-added solutions
 and processes for its customers wherever they do business, including the
 Internet and other networks.  Equifax employs about 12,000 associates in 17
 countries, with sales in almost 50, and has $2 billion in revenue.
 
     Statements in this press release that relate to Equifax's future plans,
 objectives, expectations, performance, events and the like are "forward-
 looking statements" within the meaning of the Private Securities Litigation
 Reform Act of 1995 and the Securities Exchange Act of 1934.  Future events,
 risks and uncertainties, individually or in the aggregate, could cause actual
 results to differ materially from those expressed or implied in these
 statements.  Those factors could include changes in worldwide and U.S.
 economic conditions that materially impact consumer spending and consumer
 debt, changes in demand for the Company's products and services, risks
 associated with the integration of acquisitions and other investments, and
 other factors discussed in the "Certain factors affecting forward-looking
 statements" section of Part I of the Company's annual report on Form 10-K for
 the year ended December 31, 2000.
     Equifax is a registered trademark of Equifax Inc. Equifax Credit Profile,
 Equifax Credit Watch and ScorePower are trademarks of Equifax Inc.  Copyright
 2001, Equifax Inc., Atlanta, Georgia.  All rights reserved.
 
 
 
                            EQUIFAX INC.
                        FINANCIAL HIGHLIGHTS
              (In thousands, except per share amounts)
 
                                                    1st Quarter (Unaudited)
                                                    2001             2000
 
        Operating revenue                        $479,742         $451,081
 
        Income before provision
           for income taxes:
 
          Operating income                        $98,978          $88,467
          Other income, net                         1,090              953
          Minority interest expense
          (Note  1)                                (1,552)            (863)
          Interest expense                        (17,672)         (16,374)
 
        Income before income taxes                 80,844           72,183
 
        Provision for income taxes                 32,742           29,956
 
        Net income                                $48,102          $42,227
 
 
        Net income per common share
         (diluted)                                  $0.35            $0.31
 
        Shares used in computing diluted
         earnings per share                       137,612          135,150
 
        Note 1 - Beginning with the first quarter of 2001, the Company has
        reclassified its minority interest expense in the net income of
        subsidiaries that are consolidated but not fully owned.  This expense
        was previously included in operating income and is now shown
        separately on the income statement.  Prior year amounts have also been
        reclassified.
 
        Operating revenue and operating income of the Company's reportable
        segments for the first quarter of 2001 and 2000 are as follows (the
        results of businesses sold in the fourth quarter of 2000, which include
        the Company's risk management businesses located in the U.S., Canada,
        and the U.K., and its vehicle information business in the U.K., have
        been reclassified below as "Divested Operations"):
 
        Operating revenue:                        1st Quarter (Unaudited)
        Information Services:                      2001              2000
           North American Information
            Services                            $181,863          $163,594
           Consumer Information Services          37,908               ---
           Equifax Europe                         35,784            35,986
           Equifax Latin America                  27,182            28,943
           Divested Operations                       ---            42,697
           Other                                   2,409             2,409
                                                 285,146           273,629
        Payment Services:
           Card Solutions                        130,859           119,138
           Check Solutions                        63,737            58,314
                                                 194,596           177,452
 
                                                $479,742          $451,081
 
        Operating income:
        Information Services:
           North American Information
            Services                             $72,170           $60,048
           Consumer Information Services           3,724               ---
           Equifax Europe                           (404)              969
           Equifax Latin America                   5,336             6,014
           Divested Operations                       ---             4,749
           Other                                   2,217             2,217
                                                  83,043            73,997
        Payment Services:
           Card Solutions                         22,600            17,276
           Check Solutions                         6,105             8,685
                                                  28,705            25,961
 
        General Corporate Expense                (12,770)          (11,491)
 
                                                 $98,978           $88,467
 
 
     Common Questions & Answers (Unaudited)
     ($ in Millions)
 
 
 
      1.  In 2001, minority interest expense has been reclassified on the
          income statement for consistency with internal management reporting.
          Can you provide the 2000 quarterly segment information in the new
          format.  In 2000, minority interest expense totaled $8.2 million,
          with quarterly amounts as follows:
                                                                       Twelve
                                     1st Qtr 2nd Qtr 3rd Qtr 4th Qtr   Months
                                        $0.9    $1.0    $3.0    $3.3      $8.2
 
          The 2000 operating revenue and operating income by quarter,
          restated to exclude minority interest expense and to reclassify a
          small check collections business from Equifax Europe to Check
          Solutions, are as follows:
 
           Operating Revenue:
                                                                        Twelve
            Information Services:    1st Qtr  2nd Qtr 3rd Qtr  4th Qtr  Months
               North American
                Information Services  $163.6  $170.5  $170.5  $168.7    $673.3
               Consumer Information
                Services                ---     24.3    42.9    43.3     110.5
               Equifax Europe           36.0    35.8    34.6    36.4     142.9
               Equifax Latin America    28.9    29.7    30.7    30.2     119.5
               Divested Operations      42.7    42.6    42.4     4.8     132.5
               Other                     2.4     2.4     2.4     2.4       9.6
                                       273.6   305.3   323.6   285.9   1,188.4
            Payment Services:
               Card Solutions          119.1   130.0   131.2   137.1     517.4
               Check Solutions          58.3    62.9    63.1    75.7     260.0
                                       177.5   192.9   194.3   212.8     777.5
 
                                      $451.1  $498.2  $517.9  $498.7  $1,965.9
 
 
          Operating Income:
            Information Services:    1st Qtr 2nd Qtr  3rd Qtr  4th Qtr  Twelve
                                                                        Months
               North American
                Information Services   $60.0   $70.6   $71.7   $72.2    $274.5
               Consumer Information
                Services                 ---    (2.0)    3.3     6.6       7.9
               Equifax Europe            1.0     2.7     3.2     6.8      13.7
               Equifax Latin America     6.0     7.0     9.6     8.9      31.5
               Divested Operations       4.7     4.6     5.2    (0.7)     13.8
               Other                     2.2     2.2     2.2     2.2       8.9
                                        74.0    85.1    95.3    96.0     350.3
            Payment Services:
               Card Solutions           17.3    27.9    32.5    33.1     110.8
               Check Solutions           8.7    10.7    10.8    14.1      44.2
                                        26.0    38.6    43.3    47.2     155.0
 
            General Corporate          (11.5)  (13.7)   (9.6)   (7.0)    (41.7)
 
                                       $88.5  $110.0  $129.0  $136.2    $463.6
 
 
     Common Questions & Answers (Unaudited)
     ($ in Millions)
 
 
           2. How much was depreciation and amortization?
               Depreciation and amortization was as follows:
 
                                               1st Qtr        Twelve Months
                                           2001     2000     2000       1999
                 Information Services     $24.6     $23.0    $100.8    $84.4
                 Payment Services          10.4      10.5      42.5     35.6
                 General Corporate          2.2       1.8       5.5      5.2
 
                                          $37.2     $35.2    $148.8   $125.3
 
 
                The above amounts included the following
                 goodwill amortization:
 
                                               1st Qtr        Twelve Months
                                           2001     2000     2000       1999
                 Information Services      $6.4     $5.0    $24.4      $19.7
                 Payment Services           2.0      2.0      8.0        7.0
 
                                           $8.5     $7.0    $32.5      $26.7
 
 
 
           3. What was the level of debt?
              Total debt was comprised of:
 
                                        March 31,                December 31,
                                           2001              2000         1999
                 Senior Notes and
                  Debentures             $597.7              $597.6     $597.3
                 Revolving Credit
                  Facility                377.4               390.5      318.0
                 Other Long Term
                  Obligations               3.9                 5.4       18.4
                 Short-term Debt &
                  Current Maturities       60.2                54.6       79.9
                                       $1,039.1            $1,048.2   $1,013.6
 
 
           4. What was the level of capital spending?
                Capital expenditures, excluding property and
                equipment and other assets purchased in
                acquisitions, were as follows:
 
                                               1st Qtr        Twelve Months
                                           2001     2000       2000     1999
                 Information Services      $12.9    $11.5     $68.1    $65.0
                 Payment Services           11.5      8.5      38.8     50.1
                 General Corporate           1.1      1.4       3.8      5.8
 
                                           $25.5    $21.3    $110.7   $120.9
 
 
           5. What was the quarter end cash balance?
               The cash balance at March 31, 2001 was approximately $45
               million.
 
 
      Contact: Phil Mazzilli
               Executive VP & CFO
               404-885-8544
               phil.mazzilli@equifax.com
 
 

SOURCE Equifax Inc.
    ATLANTA, April 18 /PRNewswire/ -- Equifax Inc. (NYSE:    EFX) today reported
 outstanding first quarter results driven by accelerating revenue growth and
 excellent profit performance by both its Information Services and Payment
 Services Units.
 
     First quarter highlights include:
 
     *  Revenue growth of 6.4 percent to $479.7 million, compared to 2000 first
        quarter revenue of $451.1 million;
     *  An 11.9 percent increase in operating income to $99 million in 2001
        compared to $88.5 million in 2000;
     *  A 10.1 percent increase in EBITDA over 2000, to $136.1 million; and
     *  A 13 percent increase in first quarter earnings per share to $.35.
 
     "Equifax continues to achieve profitable growth despite a slowing global
 economy and especially adverse conditions in the U.S.," said Tom Chapman,
 Equifax Chairman and Chief Executive Officer.  "Our first quarter 2001 was
 superb as earnings per share increased 13 percent and revenue grew at
 6.4 percent.  Revenue growth was even better at 8.8 percent when the effects
 of currency exchange are excluded.  Our remarkable performance is attributable
 to the strong profit growth in the core U.S. Reporting and U.S. Card Solutions
 businesses, new product initiatives and improved operating productivity.
     "Our continued focus on innovation and growth is exemplified by our
 Consumer Services Internet business," Chapman continued.  "We were the first
 to offer consumers their credit profile securely over the internet using our
 patent pending authentication technology.  On March 19, 2001, we launched with
 great success ScorePower(TM), an online consumer credit score service jointly
 developed in strategic alliance with Fair, Isaac and Co.  Just last week we
 made available nationally our unique and powerful Equifax Credit Watch(TM)
 identity fraud detection service.  Demand for all our consumer products was
 very positive for the quarter.
     "Another exciting initiative with tremendous potential is our Small
 Business Exchange announced in January.  This first-of-its-kind commercial
 lending service continues to build membership, as well as momentum, and is on
 target to be operational in the third quarter of 2001.  We are receiving
 extremely positive feedback from the members of this exchange."
 
     FIRST QUARTER BUSINESS RESULTS
 
     INFORMATION SERVICES:
     Information Services reported revenue of $285.1 million and operating
 income of $83.0 million in the first quarter.  This is a 4.2 percent increase
 in revenue and 12.2 percent increase in operating income, 14.5 percent
 normalized for acquisitions and divestitures, versus first quarter 2000.
 Revenue increased 6.6 percent excluding currency impact.
     Revenue in North American Information Services was $181.9 million versus
 $163.6 million in 2000, an increase of 11.2 percent led by growth in Credit
 Services, Mortgage Services, and Internet Initiatives, especially Consumer
 Services which more than tripled over first quarter 2000.  Operating income in
 North American Information Services increased 20.2 percent to $72.2 million in
 the 2001 quarter.
     Revenue in Equifax Latin America was $27.2 million and operating income
 was $5.3 million for the first quarter.  Revenue in local currency was up 2.7
 percent.
     Equifax Europe revenue was slightly below last year at $35.8 million, but
 in local currency revenue was up 8.0 percent.  This group reported an
 operating loss of $.4 million on lower volumes in the UK and Spain due to the
 economic slowdown.
 
     PAYMENT SERVICES:
     Payment Services increased revenue 9.7 percent to $194.6 million and
 increased operating income 10.6 percent to $28.7 million in the first quarter
 of 2001.  Revenue grew 12.1 percent excluding currency impact.
     Card Solutions generated revenue of $130.9 million in the first quarter, a
 9.8 percent increase over revenue of $119.1 million in 2000.  This increase
 was driven by merchant and card processing in the United States, which grew
 12.2 percent, and growth in the international card processing operations in
 Brazil and United Kingdom.  Operating income increased $5.3 million in Card
 Solutions to $22.6 million, led by a 21.8 percent increase in the United
 States and a $1.2 million improvement in Brazil.
     Check Solutions reported first quarter revenue of $63.7 million, a
 9.3 percent increase over 2000, as this business continues to grow both
 domestically and internationally.  The U.S. check operation experienced 12.3
 percent revenue growth in the quarter.  In the U.K., revenue grew 9.7 percent
 in local currency; however, unfavorable exchange rates resulted in a
 0.5 percent decline in U.S. dollars.  Operating income for the quarter was
 $6.1 million, $2.6 million lower than the prior year quarter due to higher
 check loss experience.
 
     TELECONFERENCE
     There will be a teleconference to discuss the first quarter earnings on
 Wednesday, April 18, 2001, at 9:00 a.m. (ET).  The live audio webcast of the
 speakers' presentations will be available at www.equifax.com .  Please note
 that Real Network's Real Player or Microsoft Media Player is required to
 access the audio webcast.  This can be downloaded from www.real.com or
 www.microsoft.com/windows/mediaplayer .
 
     Equifax (www.equifax.com ), a worldwide leader in enabling and securing
 global commerce, brings buyers and sellers together through its information,
 transaction processing, authentication direct marketing, customer relationship
 management and consumer services businesses.  Equifax customers include
 financial services, retail, credit card, telecommunications/utilities,
 transportation, information technology, e-commerce and healthcare industries.
 Equifax knowledge, expertise, and security tools provide value-added solutions
 and processes for its customers wherever they do business, including the
 Internet and other networks.  Equifax employs about 12,000 associates in 17
 countries, with sales in almost 50, and has $2 billion in revenue.
 
     Statements in this press release that relate to Equifax's future plans,
 objectives, expectations, performance, events and the like are "forward-
 looking statements" within the meaning of the Private Securities Litigation
 Reform Act of 1995 and the Securities Exchange Act of 1934.  Future events,
 risks and uncertainties, individually or in the aggregate, could cause actual
 results to differ materially from those expressed or implied in these
 statements.  Those factors could include changes in worldwide and U.S.
 economic conditions that materially impact consumer spending and consumer
 debt, changes in demand for the Company's products and services, risks
 associated with the integration of acquisitions and other investments, and
 other factors discussed in the "Certain factors affecting forward-looking
 statements" section of Part I of the Company's annual report on Form 10-K for
 the year ended December 31, 2000.
     Equifax is a registered trademark of Equifax Inc. Equifax Credit Profile,
 Equifax Credit Watch and ScorePower are trademarks of Equifax Inc.  Copyright
 2001, Equifax Inc., Atlanta, Georgia.  All rights reserved.
 
 
 
                            EQUIFAX INC.
                        FINANCIAL HIGHLIGHTS
              (In thousands, except per share amounts)
 
                                                    1st Quarter (Unaudited)
                                                    2001             2000
 
        Operating revenue                        $479,742         $451,081
 
        Income before provision
           for income taxes:
 
          Operating income                        $98,978          $88,467
          Other income, net                         1,090              953
          Minority interest expense
          (Note  1)                                (1,552)            (863)
          Interest expense                        (17,672)         (16,374)
 
        Income before income taxes                 80,844           72,183
 
        Provision for income taxes                 32,742           29,956
 
        Net income                                $48,102          $42,227
 
 
        Net income per common share
         (diluted)                                  $0.35            $0.31
 
        Shares used in computing diluted
         earnings per share                       137,612          135,150
 
        Note 1 - Beginning with the first quarter of 2001, the Company has
        reclassified its minority interest expense in the net income of
        subsidiaries that are consolidated but not fully owned.  This expense
        was previously included in operating income and is now shown
        separately on the income statement.  Prior year amounts have also been
        reclassified.
 
        Operating revenue and operating income of the Company's reportable
        segments for the first quarter of 2001 and 2000 are as follows (the
        results of businesses sold in the fourth quarter of 2000, which include
        the Company's risk management businesses located in the U.S., Canada,
        and the U.K., and its vehicle information business in the U.K., have
        been reclassified below as "Divested Operations"):
 
        Operating revenue:                        1st Quarter (Unaudited)
        Information Services:                      2001              2000
           North American Information
            Services                            $181,863          $163,594
           Consumer Information Services          37,908               ---
           Equifax Europe                         35,784            35,986
           Equifax Latin America                  27,182            28,943
           Divested Operations                       ---            42,697
           Other                                   2,409             2,409
                                                 285,146           273,629
        Payment Services:
           Card Solutions                        130,859           119,138
           Check Solutions                        63,737            58,314
                                                 194,596           177,452
 
                                                $479,742          $451,081
 
        Operating income:
        Information Services:
           North American Information
            Services                             $72,170           $60,048
           Consumer Information Services           3,724               ---
           Equifax Europe                           (404)              969
           Equifax Latin America                   5,336             6,014
           Divested Operations                       ---             4,749
           Other                                   2,217             2,217
                                                  83,043            73,997
        Payment Services:
           Card Solutions                         22,600            17,276
           Check Solutions                         6,105             8,685
                                                  28,705            25,961
 
        General Corporate Expense                (12,770)          (11,491)
 
                                                 $98,978           $88,467
 
 
     Common Questions & Answers (Unaudited)
     ($ in Millions)
 
 
 
      1.  In 2001, minority interest expense has been reclassified on the
          income statement for consistency with internal management reporting.
          Can you provide the 2000 quarterly segment information in the new
          format.  In 2000, minority interest expense totaled $8.2 million,
          with quarterly amounts as follows:
                                                                       Twelve
                                     1st Qtr 2nd Qtr 3rd Qtr 4th Qtr   Months
                                        $0.9    $1.0    $3.0    $3.3      $8.2
 
          The 2000 operating revenue and operating income by quarter,
          restated to exclude minority interest expense and to reclassify a
          small check collections business from Equifax Europe to Check
          Solutions, are as follows:
 
           Operating Revenue:
                                                                        Twelve
            Information Services:    1st Qtr  2nd Qtr 3rd Qtr  4th Qtr  Months
               North American
                Information Services  $163.6  $170.5  $170.5  $168.7    $673.3
               Consumer Information
                Services                ---     24.3    42.9    43.3     110.5
               Equifax Europe           36.0    35.8    34.6    36.4     142.9
               Equifax Latin America    28.9    29.7    30.7    30.2     119.5
               Divested Operations      42.7    42.6    42.4     4.8     132.5
               Other                     2.4     2.4     2.4     2.4       9.6
                                       273.6   305.3   323.6   285.9   1,188.4
            Payment Services:
               Card Solutions          119.1   130.0   131.2   137.1     517.4
               Check Solutions          58.3    62.9    63.1    75.7     260.0
                                       177.5   192.9   194.3   212.8     777.5
 
                                      $451.1  $498.2  $517.9  $498.7  $1,965.9
 
 
          Operating Income:
            Information Services:    1st Qtr 2nd Qtr  3rd Qtr  4th Qtr  Twelve
                                                                        Months
               North American
                Information Services   $60.0   $70.6   $71.7   $72.2    $274.5
               Consumer Information
                Services                 ---    (2.0)    3.3     6.6       7.9
               Equifax Europe            1.0     2.7     3.2     6.8      13.7
               Equifax Latin America     6.0     7.0     9.6     8.9      31.5
               Divested Operations       4.7     4.6     5.2    (0.7)     13.8
               Other                     2.2     2.2     2.2     2.2       8.9
                                        74.0    85.1    95.3    96.0     350.3
            Payment Services:
               Card Solutions           17.3    27.9    32.5    33.1     110.8
               Check Solutions           8.7    10.7    10.8    14.1      44.2
                                        26.0    38.6    43.3    47.2     155.0
 
            General Corporate          (11.5)  (13.7)   (9.6)   (7.0)    (41.7)
 
                                       $88.5  $110.0  $129.0  $136.2    $463.6
 
 
     Common Questions & Answers (Unaudited)
     ($ in Millions)
 
 
           2. How much was depreciation and amortization?
               Depreciation and amortization was as follows:
 
                                               1st Qtr        Twelve Months
                                           2001     2000     2000       1999
                 Information Services     $24.6     $23.0    $100.8    $84.4
                 Payment Services          10.4      10.5      42.5     35.6
                 General Corporate          2.2       1.8       5.5      5.2
 
                                          $37.2     $35.2    $148.8   $125.3
 
 
                The above amounts included the following
                 goodwill amortization:
 
                                               1st Qtr        Twelve Months
                                           2001     2000     2000       1999
                 Information Services      $6.4     $5.0    $24.4      $19.7
                 Payment Services           2.0      2.0      8.0        7.0
 
                                           $8.5     $7.0    $32.5      $26.7
 
 
 
           3. What was the level of debt?
              Total debt was comprised of:
 
                                        March 31,                December 31,
                                           2001              2000         1999
                 Senior Notes and
                  Debentures             $597.7              $597.6     $597.3
                 Revolving Credit
                  Facility                377.4               390.5      318.0
                 Other Long Term
                  Obligations               3.9                 5.4       18.4
                 Short-term Debt &
                  Current Maturities       60.2                54.6       79.9
                                       $1,039.1            $1,048.2   $1,013.6
 
 
           4. What was the level of capital spending?
                Capital expenditures, excluding property and
                equipment and other assets purchased in
                acquisitions, were as follows:
 
                                               1st Qtr        Twelve Months
                                           2001     2000       2000     1999
                 Information Services      $12.9    $11.5     $68.1    $65.0
                 Payment Services           11.5      8.5      38.8     50.1
                 General Corporate           1.1      1.4       3.8      5.8
 
                                           $25.5    $21.3    $110.7   $120.9
 
 
           5. What was the quarter end cash balance?
               The cash balance at March 31, 2001 was approximately $45
               million.
 
 
      Contact: Phil Mazzilli
               Executive VP & CFO
               404-885-8544
               phil.mazzilli@equifax.com
 
 SOURCE  Equifax Inc.

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