Equifax Net Income Slips for 2003
Equifax Inc., Atlanta, reported net income yesterday of $164.9 million on $1.2 billion in revenue for 2003, down from $178 million on $1.1 billion in 2002.Net income for the fourth quarter ended Dec. 31 was $28 million on $297 million in revenue, compared with $49.9 million on $292.6 million in revenue in last year's fourth quarter.
Fourth-quarter earnings include a 17 cent per share charge as a result of the firm's restructuring, which was completed in December. According to Equifax, the charge relates mainly to the company's former Direct Marketing Services unit.
Under the new structure, the firm was divided into six business units including Marketing Services, which contains Equifax's postal and electronic marketing products. The other units are North America Information Services, Latin America, Europe, Consumer Direct and Predictive Sciences.
