April 22, 2009 / 9:54 PM / 10 years ago

UPDATE 1-Equifax posts lower Q1 profit; sees strong Q2 EPS

* Q1 EPS 43 cents vs. 50 cents yr-ago

* Sees Q2 EPS above estimates

* Sees Q2 rev comparable to up slightly from Q1

April 22 (Reuters) - U.S. credit reporting company Equifax Inc (EFX.N) posted lower first-quarter earnings, hurt by an unfavorable effect of foreign exchange rates, but forecast second-quarter profit above market expectations.

For the quarter, the company reported a net income of $54.5 million, or 43 cents a share, compared with $65.7 million, or 50 cents a share a year ago.

However, excluding the impact of acquisition-related amortization expense and a restructuring charge, the company earned 58 cents a share.

Revenue came in at $452.9 million — a 10 percent decrease from the prior-year quarter, of which 6 percent was due to the unfavorable effect of foreign exchange rates.

Analysts on average expected the company to earn 43 cents a share, excluding items, on revenue of $445.9 million, according to Reuters Estimates.

Equifax said it expects second-quarter earnings of 55 cents to 60 cents a share and consolidated revenue to be comparable to or up slightly from first-quarter levels.

Three analysts on average were expecting earnings of 46 cents a share, before items, according to Reuters Estimates.

Shares of Atlanta-based Equifax closed at $26.36 Wednesday on the New York Stock Exchange.

For the alerts, please double-click [ID:nWNAB6508] (Reporting by Santosh Nadgir in Bangalore; Editing by Himani Sarkar)

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