"Our 2010 performance was in-line with our expectations and we made
significant strides as the year progressed.
Fourth Quarter 2010 Results
Diluted earnings per share before non-core gains and charges for
the quarter ended
See attached Schedule 3 for a reconciliation of diluted earnings per share before non-core gains and charges to earnings per share on a GAAP basis, as well as the definitions of the non-GAAP financial measures that the Company uses to evaluate the business.
Core revenue for the fourth quarter of 2010 was
Core results for the fourth quarter of 2010 reflect the following by solution set:
See attached Schedules 4, 5 and 6 for additional detail.
Total revenue for the fourth quarter of 2010 was
Operating income before non-core gains and charges for the fourth
quarter of 2010 was
Net income attributable to D&B before non-core gains
and charges for the fourth quarter of 2010 was
See attached Schedule 3 for additional detail.
Fourth Quarter 2010 Segment Results
Core revenue for the fourth quarter of 2010 was
See attached Schedules 4, 5 and 6 for additional detail.
Total revenue for the fourth quarter of 2010 was
Operating income before non-core gains and charges for the fourth
quarter of 2010 was
See attached Schedule 3 for additional detail.
International
Core and total revenue for the fourth quarter of 2010 was
International core and total revenue results for the fourth quarter of 2010 reflect the following:
See attached Schedules 4, 5 and 6 for additional detail.
Operating income for the fourth quarter of 2010 was
Full Year 2010 Results
Diluted earnings per share before non-core gains and charges for
the full year 2010 were
See attached Schedule 3 for additional detail.
Core revenue for the full year 2010 was
Core revenue results for the full year 2010 reflect the following by solution set:
See attached Schedules 4, 5 and 6 for additional detail.
Total revenue for the full year 2010 was
Operating income before non-core gains and charges for the full
year 2010 was
Net income attributable to D&B before non-core gains
and charges for the full year 2010 was
See attached Schedule 3 for additional detail.
Free cash flow for the full year 2010, excluding the impact of
legacy tax matters, was
See attached Schedule 4 for additional detail.
Share repurchases during the full year 2010 under the Company's
discretionary repurchase program totaled
The Company ended the quarter with
Full Year 2010 Segment Results
Core revenue for the full year 2010 was
See attached Schedules 4, 5 and 6 for additional detail.
Total revenue for the full year 2010 was
Operating income before non-core gains and charges for the full
year 2010 was
See attached Schedule 3 for additional detail.
International
Core revenue for the full year 2010 was
International core revenue results for the full year 2010 reflect the following:
See attached Schedules 4, 5 and 6 for additional detail.
Total revenue for the full year 2010 was
Operating income for the full year 2010 was
Non-Core Gains and Charges
During the fourth quarter of 2010, the Company recorded:
For the full year 2010, the Company recorded:
See attached Schedule 3 for additional explanations and details of these charges.
D&B's restructuring charges may be viewed as recurring as they are part of its Financial Flexibility initiatives. In addition to reporting GAAP results, the Company reports results before restructuring charges and other non-core gains and charges because they do not reflect the Company's underlying business performance and they may have a disproportionate positive or negative impact on the results of its ongoing business operations. For additional information, see the section titled "Use of Non-GAAP Financial Measures" below.
In
In the fourth quarter of 2010, the Company incurred
For the full year 2010, we have incurred
During 2010, D&B achieved the following results regarding the milestones
outlined during our 2010 Investor Day: i) opened a new application
development center in
During 2011, the project will largely center on the rebuild of our data
supply chain. Given the critical nature of this function, we made the
decision to develop the capability in-house, due to the strategic
advantages and increased platform flexibility we realize by retaining
this expertise. As a result of this change, we now expect the
For the full year 2011, the Company anticipates spending between
See attached Schedule 3 for additional detail.
2011 Financial Flexibility
D&B continues to create financial flexibility through several reengineering initiatives aimed at greater efficiency and productivity, including the following:
D&B expects its ongoing financial flexibility initiatives to create
Full Year 2011 Guidance
D&B today provided the following financial guidance for the full year 2011:
The impact of our
Effective
D&B does not provide guidance on a GAAP basis because D&B is unable to predict, with reasonable certainty, the future movement of foreign exchange rates or the future impact of non-core gains and charges, such as restructuring charges and legacy tax matters, which are a component of the most comparable financial measures calculated in accordance with GAAP. Non-core gains and charges are uncertain and will depend on several factors, including industry conditions, and could be material to D&B's results computed in accordance with GAAP.
Cash Dividend Increased
D&B today announced that it has declared an increased quarterly cash
dividend of
Use of Non-GAAP Financial Measures
D&B reports non-GAAP financial measures in this press release and the
schedules attached. See "Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations — How We Manage Our
Business" in the Company's Annual Report on Form 10-K for the year
ending
Fourth Quarter and Full Year 2010 Teleconference
As previously announced, D&B will review its fourth quarter and full
year 2010 financial results in a conference call with the investment
community on
About
D&B provides solution sets that meet a diverse set of customer needs globally. Customers use D&B Risk Management SolutionsTM to mitigate credit and supplier risk, increase cash flow and drive increased profitability; D&B Sales & Marketing SolutionsTM to increase revenue from new and existing customers; and D&B Internet SolutionsTM to convert prospects into clients faster by enabling business professionals to research companies, executives and industries, over the web. For more information, please visit www.dnb.com.
Forward-Looking and Cautionary Statements
This press release, including, in particular, the section titled "Full Year 2011 Guidance," contains projections of future results and other forward-looking statements that involve a number of trends, risks and uncertainties, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The following important factors could cause actual results to differ materially from those projected in such forward-looking statements.
For a more detailed discussion of the trends, risks and uncertainties
that may affect D&B's operating and financial results and its ability to
achieve the financial objectives discussed in this press release,
readers should review the Company's most recent filings with the
| The Dun & Bradstreet Corporation | Schedule 1 | |||||||||||||||||||||||||||||||||
| Consolidated Statement of Operations (unaudited) - GAAP Results | ||||||||||||||||||||||||||||||||||
| Quarter Ended | Effects of | Full Year | Effects of | |||||||||||||||||||||||||||||||
| December 31, | AFX | Foreign | BFX | December 31, | AFX | Foreign | BFX | |||||||||||||||||||||||||||
| % Change | Exchange | % Change | % Change | Exchange | % Change | |||||||||||||||||||||||||||||
| Amounts in millions, except per share data | 2010 | 2009 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | ||||||||||||||||||||||||
| Revenue: | ||||||||||||||||||||||||||||||||||
| North America | $ | 351.0 | $ | 343.2 | 2 | % | 0 | % | 2 | % | $ | 1,229.5 | $ | 1,239.4 | (1 | )% | 0 | % | (1 | )% | ||||||||||||||
| International | 130.7 | 106.3 | 23 | % | (1 | )% | 24 | % | 414.2 | 355.4 | 17 | % | 1 | % | 16 | % | ||||||||||||||||||
| Core Revenue | 481.7 | 449.5 | 7 | % | 0 | % | 7 | % | 1,643.7 | 1,594.8 | 3 | % | 0 | % | 3 | % | ||||||||||||||||||
| Divested Business (1) | - | 14.2 | N/M | N/M | N/M | 32.9 | 92.2 | (64 | )% | 1 | % | (65 | )% | |||||||||||||||||||||
| Total Revenue | $ | 481.7 | $ | 463.7 | 4 | % | 0 | % | 4 | % | $ | 1,676.6 | $ | 1,687.0 | (1 | )% | 0 | % | (1 | )% | ||||||||||||||
| Operating Income (Loss): | ||||||||||||||||||||||||||||||||||
| North America (2) | $ | 155.0 | $ | 143.8 | 8 | % | $ | 452.2 | $ | 482.5 | (6 | )% | ||||||||||||||||||||||
| International | 24.5 | 29.2 | (16 | )% | 71.6 | 81.1 | (12 | )% | ||||||||||||||||||||||||||
| Total Divisions | 179.5 | 173.0 | 4 | % | 523.8 | 563.6 | (7 | )% | ||||||||||||||||||||||||||
| Corporate and Other (3) | (29.2 | ) | (25.8 | ) | (13 | )% | (114.7 | ) | (99.1 | ) | (16 | )% | ||||||||||||||||||||||
| Operating Income | 150.3 | 147.2 | 2 | % | 409.1 | 464.5 | (12 | )% | ||||||||||||||||||||||||||
| Interest Income | 0.7 | 0.5 | 28 | % | 2.1 | 3.0 | (30 | )% | ||||||||||||||||||||||||||
| Interest Expense | (11.7 | ) | (11.5 | ) | (1 | )% | (46.0 | ) | (45.7 | ) | (1 | )% | ||||||||||||||||||||||
| Other Income (Expense) - Net (4) | (5.0 | ) | (3.2 | ) | (53 | )% | 22.7 | 10.7 | N/M | |||||||||||||||||||||||||
| Non-Operating Income (Expense) - Net | (16.0 | ) | (14.2 | ) | (12 | )% | (21.2 | ) | (32.0 | ) | 34 | % | ||||||||||||||||||||||
| Income before Provision for Income Taxes | 134.3 | 133.0 | 1 | % | 387.9 | 432.5 | (10 | )% | ||||||||||||||||||||||||||
| Provision for Income Taxes | 42.6 | 48.6 | 12 | % | 137.9 | 112.1 | (23 | )% | ||||||||||||||||||||||||||
| Equity in Net Income (Loss) of Affiliates | 0.2 | 0.6 | (73 | )% | 0.9 | 1.6 | (46 | )% | ||||||||||||||||||||||||||
| Net Income | $ | 91.9 | $ | 85.0 | 8 | % | $ | 250.9 | $ | 322.0 | (22 | )% | ||||||||||||||||||||||
| Less: Net (Income) Loss Attributable to the Noncontrolling Interest | 0.7 | (0.6 | ) | N/M | 1.2 | (2.6 | ) | N/M | ||||||||||||||||||||||||||
| Net Income Attributable to D&B (5) | $ | 92.6 | $ | 84.4 | 10 | % | $ | 252.1 | $ | 319.4 | (21 | )% | ||||||||||||||||||||||
| Less: Allocation to Participating Securities | (0.3 | ) | (0.6 | ) | 54 | % | (1.0 | ) | (2.2 | ) | 56 | % | ||||||||||||||||||||||
| Net Income Attributable to D&B Common Shareholders | $ | 92.3 | $ | 83.8 | 10 | % | $ | 251.1 | $ | 317.2 | (21 | )% | ||||||||||||||||||||||
| Basic Earnings Per Share of Common Stock | ||||||||||||||||||||||||||||||||||
| Attributable to D&B Common Shareholders | $ | 1.86 | $ | 1.63 | 14 | % | $ | 5.03 | $ | 6.06 | (17 | )% | ||||||||||||||||||||||
| Diluted Earnings Per Share of Common Stock | ||||||||||||||||||||||||||||||||||
| Attributable to D&B Common Shareholders (6) | $ | 1.85 | $ | 1.61 | 15 | % | $ | 4.98 | $ | 5.99 | (17 | )% | ||||||||||||||||||||||
| Weighted Average Number of Shares Outstanding: | ||||||||||||||||||||||||||||||||||
| Basic | 49.6 | 51.5 | 4 | % | 49.9 | 52.3 | 5 | % | ||||||||||||||||||||||||||
| Diluted | 50.0 | 52.1 | 4 | % | 50.4 | 52.9 | 5 | % | ||||||||||||||||||||||||||
| AFX - After Effects of Foreign Exchange |
| BFX - Before Effects of Foreign Exchange |
| N/M - Not Meaningful |
| See Schedule 3 (Notes to Schedules), which is an integral part of the consolidated statement of operations. |
|
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission. |
| The Dun & Bradstreet Corporation | Schedule 2 | |||||||||||||||||||||||||||||||||
|
Consolidated Statement of Operations (unaudited) - Before Non-Core Gains and Charges |
||||||||||||||||||||||||||||||||||
| Quarter Ended | Effects of | Full Year | Effects of | |||||||||||||||||||||||||||||||
| December 31, | AFX | Foreign | BFX | December 31, | AFX | Foreign | BFX | |||||||||||||||||||||||||||
| % Change | Exchange | % Change | % Change | Exchange | % Change | |||||||||||||||||||||||||||||
| Amounts in millions, except per share data | 2010 | 2009 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | ||||||||||||||||||||||||
| Revenue: | ||||||||||||||||||||||||||||||||||
| North America | $ | 351.0 | $ | 343.2 | 2 | % | 0 | % | 2 | % | $ | 1,229.5 | $ | 1,239.4 | (1 | )% | 0 | % | (1 | )% | ||||||||||||||
| International | 130.7 | 106.3 | 23 | % | (1 | )% | 24 | % | 414.2 | 355.4 | 17 | % | 1 | % | 16 | % | ||||||||||||||||||
|
Core Revenue |
481.7 | 449.5 | 7 | % | 0 | % | 7 | % | 1,643.7 | 1,594.8 | 3 | % | 0 | % | 3 | % | ||||||||||||||||||
| Divested Business (1) | - | 14.2 | N/M | N/M | N/M | 32.9 | 92.2 | (64 | )% | 1 | % | (65 | )% | |||||||||||||||||||||
| Total Revenue | $ | 481.7 | $ | 463.7 | 4 | % | 0 | % | 4 | % | $ | 1,676.6 | $ | 1,687.0 | (1 | )% | 0 | % | (1 | )% | ||||||||||||||
| Operating Income (Loss): | ||||||||||||||||||||||||||||||||||
| North America (2) | $ | 155.0 | $ | 146.8 | 6 | % | $ | 472.6 | $ | 485.5 | (3 | )% | ||||||||||||||||||||||
| International | 24.5 | 29.2 | (16 | )% | 71.6 | 81.1 | (12 | )% | ||||||||||||||||||||||||||
| Total Divisions | 179.5 | 176.0 | 2 | % | 544.2 | 566.6 | (4 | )% | ||||||||||||||||||||||||||
| Corporate and Other (3) | (12.2 | ) | (19.0 | ) | 36 | % | (63.4 | ) | (76.0 | ) | 17 | % | ||||||||||||||||||||||
| Operating Income | 167.3 | 157.0 | 7 | % | 480.8 | 490.6 | (2 | )% | ||||||||||||||||||||||||||
| Interest Income | 0.7 | 0.5 | 28 | % | 2.1 | 3.0 | (30 | )% | ||||||||||||||||||||||||||
| Interest Expense | (11.7 | ) | (11.5 | ) | (1 | )% | (46.0 | ) | (45.7 | ) | (1 | )% | ||||||||||||||||||||||
| Other Income (Expense) - Net (4) | (4.3 | ) | (0.7 | ) | N/M | (3.7 | ) | (0.9 | ) | N/M | ||||||||||||||||||||||||
| Non-Operating Income (Expense) - Net | (15.3 | ) | (11.7 | ) | (30 | )% | (47.6 | ) | (43.6 | ) | (9 | )% | ||||||||||||||||||||||
| Income before Provision for Income Taxes | 152.0 | 145.3 | 5 | % | 433.2 | 447.0 | (3 | )% | ||||||||||||||||||||||||||
| Provision for Income Taxes | 56.4 | 53.3 | (6 | )% | 149.0 | 157.3 | 5 | % | ||||||||||||||||||||||||||
| Equity in Net Income (Loss) of Affiliates | 0.2 | 0.6 | (73 | )% | 0.9 | 1.6 | (46 | )% | ||||||||||||||||||||||||||
| Net Income | $ | 95.8 | $ | 92.6 | 3 | % | $ | 285.1 | $ | 291.3 | (2 | )% | ||||||||||||||||||||||
| Less: Net (Income) Loss Attributable to the Noncontrolling Interest | 0.7 | (0.6 | ) | N/M | 1.2 | (2.6 | ) | N/M | ||||||||||||||||||||||||||
| Net Income Attributable to D&B (5) | $ | 96.5 | $ | 92.0 | 5 | % | $ | 286.3 | $ | 288.7 | (1 | )% | ||||||||||||||||||||||
| Less: Allocation to Participating Securities | (0.3 | ) | (0.6 | ) | 54 | % | (1.1 | ) | (2.0 | ) | 44 | % | ||||||||||||||||||||||
| Net Income Attributable to D&B Common Shareholders | $ | 96.2 | $ | 91.4 | 5 | % | $ | 285.2 | $ | 286.7 | (1 | )% | ||||||||||||||||||||||
| Basic Earnings Per Share of Common Stock | ||||||||||||||||||||||||||||||||||
| Attributable to D&B Common Shareholders | $ | 1.94 | $ | 1.77 | 10 | % | $ | 5.71 | $ | 5.48 | 4 | % | ||||||||||||||||||||||
| Diluted Earnings Per Share of Common Stock | ||||||||||||||||||||||||||||||||||
| Attributable to D&B Common Shareholders (6) | $ | 1.92 | $ | 1.75 | 10 | % | $ | 5.66 | $ | 5.42 | 4 | % | ||||||||||||||||||||||
| Weighted Average Number of Shares Outstanding: | ||||||||||||||||||||||||||||||||||
| Basic | 49.6 | 51.5 | 4 | % | 49.9 | 52.3 | 5 | % | ||||||||||||||||||||||||||
| Diluted | 50.0 | 52.1 | 4 | % | 50.4 | 52.9 | 5 | % | ||||||||||||||||||||||||||
| AFX - After Effects of Foreign Exchange |
| BFX - Before Effects of Foreign Exchange |
| N/M - Not Meaningful |
|
See Schedule 3 (Notes to Schedules) for a definition of Non-GAAP measures and a reconciliation of non-core gains and charges. |
|
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission. |
| The Dun & Bradstreet Corporation | Schedule 3 | |||||||||||||||||||||||
| Notes to Schedules 1 and 2 (unaudited) and Definitions of Non-GAAP Measures | ||||||||||||||||||||||||
| (1) | Includes revenue from the Italian Domestic business and the North American Self Awareness Solutions business | |||||||||||||||||||||||
| (2) | The following table reconciles North America Operating Income included in Schedule 1 and Schedule 2: | |||||||||||||||||||||||
| Quarter Ended | Full Year | |||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||
| % Change | % Change | |||||||||||||||||||||||
| Amounts in millions | 2010 | 2009 | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | ||||||||||||||||||
| North America Operating Income (Schedule 1) | $ | 155.0 | $ | 143.8 | 8 | % | $ | 452.2 | $ | 482.5 | (6 | )% | ||||||||||||
| Impaired Intangible Assets | - | (3.0 | ) | N/M | (20.4 | ) | (3.0 | ) | N/M | |||||||||||||||
| North America Operating Income - Before Non-Core Gains and Charges (Schedule 2) | $ | 155.0 | $ | 146.8 | 6 | % | $ | 472.6 | $ | 485.5 | (3 | )% | ||||||||||||
| (3) | The following table reconciles Corporate and Other expenses included in Schedule 1 and Schedule 2: | |||||||||||||||||||||||
| Quarter Ended | Full Year | |||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||
| % Change | % Change | |||||||||||||||||||||||
| Amounts in millions | 2010 | 2009 | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | ||||||||||||||||||
| Corporate and Other - GAAP Results (Schedule 1) | $ | (29.2 | ) | $ | (25.8 | ) | (13 | )% | $ | (114.7 | ) | $ | (99.1 | ) | (16 | )% | ||||||||
| Restructuring Charges | (4.7 | ) | (6.8 | ) | 32 | % | (14.8 | ) | (23.1 | ) | 36 | % | ||||||||||||
| Strategic Technology Investment | (12.3 | ) | - | N/M | (36.5 | ) | - | N/M | ||||||||||||||||
| Corporate and Other - Before Non-Core Gains and Charges (Schedule 2) | $ | (12.2 | ) | $ | (19.0 | ) | 36 | % | $ | (63.4 | ) | $ | (76.0 | ) | 17 | % | ||||||||
| (4) | The following table reconciles Other Income (Expense)-Net included in Schedule 1 and Schedule 2: | |||||||||||||||||||||||
| Quarter Ended | Full Year | |||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||
| % Change | % Change | |||||||||||||||||||||||
| Amounts in millions | 2010 | 2009 | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | ||||||||||||||||||
| Other Income (Expense)-Net - GAAP Results (Schedule 1) | $ | (5.0 | ) | $ | (3.2 | ) | (53 | )% | $ | 22.7 | $ | 10.7 | N/M | |||||||||||
| Effect of Legacy Tax Matters | (1.2 | ) | 0.3 | N/M | (0.4 | ) | 1.0 | N/M | ||||||||||||||||
| Settlement of Legacy Tax Matter Arbitration | - | - | N/M | - | 4.1 | N/M | ||||||||||||||||||
| Strategic Technology Investment | 0.5 | - | N/M | 0.3 | - | N/M | ||||||||||||||||||
| Gain on Disposal of North American Self Awareness Solutions business | - | - | N/M | 23.1 | - | N/M | ||||||||||||||||||
|
One-Time Gain on Hedge of Purchase Price on the Australia Acquisition |
- | - | N/M | 3.4 | - | N/M | ||||||||||||||||||
| Gain on Disposal of Italian Domestic business | - | (2.8 | ) | N/M | - | 6.5 | N/M | |||||||||||||||||
| Other Income (Expense)-Net - Before Non-Core Gains and Charges (Schedule 2) | $ | (4.3 | ) | $ | (0.7 | ) | N/M | $ | (3.7 | ) | $ | (0.9 | ) | N/M | ||||||||||
| Quarter Ended | Full Year | |||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||
| Amounts in millions | 2010 | 2009 | 2010 | 2009 | ||||||||||||||||||||
| Total Pre-Tax Impacts: | ||||||||||||||||||||||||
| Impaired Intangible Assets | $ | - | $ | (3.0 | ) | $ | (20.4 | ) | $ | (3.0 | ) | |||||||||||||
| Restructuring Charges | (4.7 | ) | (6.8 | ) | (14.8 | ) | (23.1 | ) | ||||||||||||||||
| Strategic Technology Investment | (12.3 | ) | - | (36.5 | ) | - | ||||||||||||||||||
| Effect of Legacy Tax Matters | (1.2 | ) | 0.3 | (0.4 | ) | 1.0 | ||||||||||||||||||
| Settlement of Legacy Tax Matter Arbitration | - | - | - | 4.1 | ||||||||||||||||||||
| Strategic Technology Investment | 0.5 | - | 0.3 | - | ||||||||||||||||||||
| Gain on Disposal of North American Self Awareness Solutions business | - | - | 23.1 | - | ||||||||||||||||||||
|
One-Time Gain on Hedge of Purchase Price on the Australia Acquisition |
- | - | 3.4 | - | ||||||||||||||||||||
| Gain on Disposal of Italian Domestic business | - | (2.8 | ) | - | 6.5 | |||||||||||||||||||
| Total Pre-Tax Impacts | $ | (17.7 | ) | $ | (12.3 | ) | $ | (45.3 | ) | $ | (14.5 | ) | ||||||||||||
| (5) | The following table reconciles Net Income Attributable to D&B included in Schedule 1 and Schedule 2: | |||||||||||||||||||||||
| Quarter Ended | Full Year | |||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||
| % Change |
|
% Change | ||||||||||||||||||||||
| Amounts in millions | 2010 | 2009 | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | ||||||||||||||||||
| Net Income Attributable to D&B - GAAP Results (Schedule 1) | $ | 92.6 | $ | 84.4 | 10 | % | $ | 252.1 | $ | 319.4 | (21 | )% | ||||||||||||
| Restructuring Charges | (2.9 | ) | (4.5 | ) | 36 | % | (9.6 | ) | (14.7 | ) | 35 | % | ||||||||||||
| Impaired Intangible Assets | - | (1.8 | ) | N/M | (12.8 | ) | (1.8 | ) | N/M | |||||||||||||||
| Strategic Technology Investment | (9.0 | ) | - | N/M | (27.9 | ) | - | N/M | ||||||||||||||||
| Gain on Disposal of North American Self Awareness Solutions business | - | - | N/M | 14.1 | - | N/M | ||||||||||||||||||
|
One-Time Gain on Hedge of Purchase Price on the Australia Acquisition |
- | - | N/M | 2.1 | - | N/M | ||||||||||||||||||
| Effect of Legacy Tax Matters | (0.9 | ) | - | N/M | (0.9 | ) | - | N/M | ||||||||||||||||
| Settlement of Legacy Tax Matter Arbitration | - | - | N/M | - | 1.0 | N/M | ||||||||||||||||||
| Reduction of a Deferred Tax Asset Resulting from the Healthcare Act of 2010 | - | - | N/M | (13.0 | ) | - | N/M | |||||||||||||||||
| Benefits Derived from Worldwide Legal Entity Simplification | - | - | N/M | - | 36.2 | N/M | ||||||||||||||||||
| Gain on Disposal of Italian Domestic business | - | (1.3 | ) | N/M | - | 10.0 | N/M | |||||||||||||||||
| Refund Claims on Legacy Tax Matters | 8.9 | - | N/M | 13.8 | - | N/M | ||||||||||||||||||
| After-Tax Impact | (3.9 | ) | (7.6 | ) | (34.2 | ) | 30.7 | |||||||||||||||||
| Net Income Attributable to D&B - Before Non-Core Gains and Charges (Schedule 2) | $ | 96.5 | $ | 92.0 | 5 | % | $ | 286.3 | $ | 288.7 | (1 | )% | ||||||||||||
| (6) | The following table reconciles Diluted Earnings Per Share Attributable to D&B included in Schedule 1 and Schedule 2: | |||||||||||||||||||||||
| Quarter Ended | Full Year | |||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||
| % Change | % Change | |||||||||||||||||||||||
| 2010 | 2009 | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | |||||||||||||||||||
| Diluted EPS Attributable to D&B - GAAP Results (Schedule 1) | $ | 1.85 | $ | 1.61 | 15 | % | $ | 4.98 | $ | 5.99 | (17 | )% | ||||||||||||
| Restructuring Charges | ($0.05 | ) | ($0.09 | ) | 44 | % | (0.19 | ) | ($0.28 | ) | 32 | % | ||||||||||||
| Impaired Intangible Assets | - | (0.03 | ) | N/M | (0.25 | ) | (0.04 | ) | N/M | |||||||||||||||
| Strategic Technology Investment | (0.18 | ) | - | N/M | (0.55 | ) | - | N/M | ||||||||||||||||
| Gain on Disposal of North American Self Awareness Solutions business | - | - | N/M | 0.28 | - | N/M | ||||||||||||||||||
|
One-Time Gain on Hedge of Purchase Price on the Australia Acquisition |
- | - | N/M | 0.04 | - | N/M | ||||||||||||||||||
| Effect of Legacy Tax Matters | (0.02 | ) | - | N/M | (0.02 | ) | - | N/M | ||||||||||||||||
| Settlement of Legacy Tax Matter Arbitration | - | - | N/M | - | 0.02 | N/M | ||||||||||||||||||
| Reduction of a Deferred Tax Asset Resulting from the Healthcare Act of 2010 | - | - | N/M | (0.26 | ) | - | N/M | |||||||||||||||||
| Benefits Derived from Worldwide Legal Entity Simplification | - | - | N/M | - | 0.68 | N/M | ||||||||||||||||||
| Gain on Disposal of Italian Domestic business | - | (0.02 | ) | N/M | - | 0.19 | N/M | |||||||||||||||||
| Refund Claims on Legacy Tax Matters | 0.18 | - | N/M | 0.27 | - | N/M | ||||||||||||||||||
| Diluted EPS Attributable to D&B - Before Non-Core Gains and Charges (Schedule 2) | $ | 1.92 | $ | 1.75 | 10 | % | $ | 5.66 | $ | 5.42 | 4 | % | ||||||||||||
| N/M - Not Meaningful |
|
The following defines the non-GAAP measures used to evaluate performance: |
|
*Total revenue excluding the revenue of divested businesses is referred to as "core revenue." Core revenue includes the revenue from acquired businesses from the date of acquisition *Core revenue growth, excluding the effects of foreign exchange, is referred to as "core revenue growth before the effects of foreign exchange." We also separately, from time to time, analyze core revenue growth before the effects of foreign exchange among two components, "organic core revenue growth" and "core revenue growth from acquisitions" *Results (such as operating income, operating income growth, operating margin, net income, tax rate and diluted earnings per share) exclude Restructuring Charges (whether recurring or non-recurring) and certain other items that we consider do not reflect our underlying business performance. We refer to these Restructuring Charges and other items as "non-core gains and (charges)" * Net cash provided by operating activities minus capital expenditures and additions to computer software and other intangibles is referred to as "free cash flow" |
|
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission. |
| The Dun & Bradstreet Corporation | Schedule 4 | ||||||||||||||||||||||||||||||||||||||
| Supplemental GAAP Financial Data (unaudited) | |||||||||||||||||||||||||||||||||||||||
| Quarter Ended | Effects of | Full Year | Effects of | ||||||||||||||||||||||||||||||||||||
| December 31, | AFX | Foreign | BFX | December 31, | AFX | Foreign | BFX | ||||||||||||||||||||||||||||||||
| % Change | Exchange | % Change | % Change | Exchange | % Change | ||||||||||||||||||||||||||||||||||
| Amounts in millions | 2010 | 2009 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | 2010 | 2009 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | |||||||||||||||||||||||||||||
| Geographic and Customer Solution Set Revenue: | |||||||||||||||||||||||||||||||||||||||
| North America: | |||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions | $ | 189.6 | $ | 187.9 | 1 | % | 0 | % | 1 | % | $ | 731.5 | $ | 739.3 | (1 | )% | 0 | % | (1 | )% | |||||||||||||||||||
| Sales & Marketing Solutions | 133.5 | 127.4 | 5 | % | 0 | % | 5 | % | 386.5 | 385.5 | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||
| Internet Solutions | 27.9 | 27.9 | 0 | % | (1 | )% | 1 | % | 111.5 | 114.6 | (3 | )% | 0 | % | (3 | )% | |||||||||||||||||||||||
| Subtotal Core Revenue | 351.0 | 343.2 | 2 | % | 0 | % | 2 | % | 1,229.5 | 1,239.4 | (1 | )% | 0 | % | (1 | )% | |||||||||||||||||||||||
| Divested Business 1 | - | 14.2 | N/M | N/M | N/M | 32.9 | 70.3 | (53 | )% | 0 | % | (53 | )% | ||||||||||||||||||||||||||
| Total North America Revenue | 351.0 | 357.4 | (2 | )% | 0 | % | (2 | )% | 1,262.4 | 1,309.7 | (4 | )% | 0 | % | (4 | )% | |||||||||||||||||||||||
| International: | |||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions | 95.6 | 75.1 | 27 | % | (2 | )% | 29 | % | 305.2 | 262.9 | 16 | % | 0 | % | 16 | % | |||||||||||||||||||||||
| Sales & Marketing Solutions | 34.2 | 30.4 | 13 | % | 2 | % | 11 | % | 105.6 | 89.1 | 19 | % | 3 | % | 16 | % | |||||||||||||||||||||||
| Internet Solutions | 0.9 | 0.8 | 1 | % | (1 | )% | 2 | % | 3.4 | 3.4 | 0 | % | 4 | % | (4 | )% | |||||||||||||||||||||||
| Subtotal Core Revenue | 130.7 | 106.3 | 23 | % | (1 | )% | 24 | % | 414.2 | 355.4 | 17 | % | 1 | % | 16 | % | |||||||||||||||||||||||
| Divested Business 1 | - | - | N/M | N/M | N/M | - | 21.9 | N/M | N/M | N/M | |||||||||||||||||||||||||||||
| Total International Revenue | 130.7 | 106.3 | 23 | % | (1 | )% | 24 | % | 414.2 | 377.3 | 10 | % | 1 | % | 9 | % | |||||||||||||||||||||||
| Total Corporation: | |||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions | 285.2 | 263.0 | 8 | % | (1 | )% | 9 | % | 1,036.7 | 1,002.2 | 3 | % | 0 | % | 3 | % | |||||||||||||||||||||||
| Sales & Marketing Solutions | 167.7 | 157.8 | 6 | % | 0 | % | 6 | % | 492.1 | 474.6 | 4 | % | 1 | % | 3 | % | |||||||||||||||||||||||
| Internet Solutions | 28.8 | 28.7 | 1 | % | 0 | % | 1 | % | 114.9 | 118.0 | (3 | )% | 0 | % | (3 | )% | |||||||||||||||||||||||
| Subtotal Core Revenue | 481.7 | 449.5 | 7 | % | 0 | % | 7 | % | 1,643.7 | 1,594.8 | 3 | % | 0 | % | 3 | % | |||||||||||||||||||||||
| Divested Business 1 | - | 14.2 | N/M | N/M | N/M | 32.9 | 92.2 | (64 | )% | 1 | % | (65 | )% | ||||||||||||||||||||||||||
| Total Revenue | $ | 481.7 | $ | 463.7 | 4 | % | 0 | % | 4 | % | $ | 1,676.6 | $ | 1,687.0 | (1 | )% | 0 | % | (1 | )% | |||||||||||||||||||
| Operating Costs: | |||||||||||||||||||||||||||||||||||||||
| Operating Expenses | $ | 149.1 | $ | 133.4 | (12 | )% | $ | 557.7 | $ | 500.3 | (12 | )% | |||||||||||||||||||||||||||
| Selling and Administrative Expenses | 157.8 | 160.6 | 2 | % | 626.9 | 641.0 | 2 | % | |||||||||||||||||||||||||||||||
| Depreciation and Amortization | 19.8 | 15.7 | (26 | )% | 68.1 | 58.1 | (17 | )% | |||||||||||||||||||||||||||||||
| Restructuring Expense | 4.7 | 6.8 | 32 | % | 14.8 | 23.1 | 36 | % | |||||||||||||||||||||||||||||||
|
Total Operating Costs 2 |
$ | 331.4 | $ | 316.5 | (5 | )% | $ | 1,267.5 | $ | 1,222.5 | (4 | )% | |||||||||||||||||||||||||||
|
Capital Expenditures 3 |
1.9 | $ | 3.2 | 40 | % | 9.5 | $ | 9.2 | (3 | )% | |||||||||||||||||||||||||||||
|
Additions to Computer Software & Other Intangibles 3 |
$ | 15.1 | $ | 14.2 | (7 | )% | $ | 56.4 | $ | 56.1 | (1 | )% | |||||||||||||||||||||||||||
| Quarter Ended | |||||||||||||||||||||||||||||||||||||||
| Amounts in millions | Dec 31, 2010 | Sep 30, 2010 | Jun 30, 2010 | Mar 31, 2010 | Dec 31, 2009 | Sep 30, 2009 | Jun 30, 2009 | Mar 31, 2009 | Dec 31, 2008 | ||||||||||||||||||||||||||||||
| Net Debt Position: | |||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 78.5 | $ | 77.2 | $ | 209.7 | $ | 218.7 | $ | 222.9 | $ | 187.3 | $ | 226.4 | $ | 179.9 | $ | 164.2 | |||||||||||||||||||||
| Short-Term Debt | (1.5 | ) | (301.4 | ) | (301.3 | ) | (302.7 | ) | (1.7 | ) | (1.3 | ) | (0.6 | ) | (0.6 | ) | - | ||||||||||||||||||||||
| Long-Term Debt | (972.0 | ) | (654.6 | ) | (625.1 | ) | (649.7 | ) | (961.8 | ) | (894.2 | ) | (868.0 | ) | (900.0 | ) | (904.3 | ) | |||||||||||||||||||||
| Net Debt | $ | (895.0 | ) | $ | (878.8 | ) | $ | (716.7 | ) | $ | (733.7 | ) | $ | (740.6 | ) | $ | (708.2 | ) | $ | (642.2 | ) | $ | (720.7 | ) | $ | (740.1 | ) | ||||||||||||
| Full Year | |||||||||||||||||||||||||||||||||||||||
| % Change | |||||||||||||||||||||||||||||||||||||||
| Amounts in millions | Dec 31, 2010 | Dec 31, 2009 | Fav/(Unfav) | ||||||||||||||||||||||||||||||||||||
| Free Cash Flow: | |||||||||||||||||||||||||||||||||||||||
| Net Cash Provided By Operating Activities (GAAP Results) | $ | 319.4 | $ | 369.5 | (14 | )% | |||||||||||||||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||||||||||
|
Capital Expenditures (GAAP Results) 3 |
9.5 | 9.2 | (3 | )% | |||||||||||||||||||||||||||||||||||
|
Additions to Computer Software & Other Intangibles (GAAP Results) 3 |
56.4 | 56.1 | (1 | )% | |||||||||||||||||||||||||||||||||||
| Free Cash Flow | $ | 253.5 | $ | 304.2 | (17 | )% | |||||||||||||||||||||||||||||||||
| Legacy Tax Matters (Refund) Payment | (4.3 | ) | (8.0 | ) | 46 | % | |||||||||||||||||||||||||||||||||
| Free Cash Flow Excluding Legacy Tax Matters | $ | 249.2 | $ | 296.2 | (16 | )% | |||||||||||||||||||||||||||||||||
| Full Year | |||||||||||||||||||||||||||||||||||||||
| % Change | |||||||||||||||||||||||||||||||||||||||
| Amounts in millions | Dec 31, 2010 | Dec 31, 2009 | Fav/(Unfav) | ||||||||||||||||||||||||||||||||||||
| Net Cash Provided By Operating Activities excluding Legacy Tax Matters: | |||||||||||||||||||||||||||||||||||||||
| Net Cash Provided By Operating Activities (GAAP Results) | $ | 319.4 | $ | 369.5 | (14 | )% | |||||||||||||||||||||||||||||||||
| Legacy Tax Matters (Refund) Payment | (4.3 | ) | (8.0 | ) | 46 | % | |||||||||||||||||||||||||||||||||
| Net Cash Provided By Operating Activities Excluding Legacy Tax Matters | $ | 315.1 | $ | 361.5 | (13 | )% | |||||||||||||||||||||||||||||||||
| Notes: | |||||||||||||||||||||||||||||||||||||||
| Quarter Ended | Full Year | ||||||||||||||||||||||||||||||||||||||
| December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||
| 2010 | 2009 | 2010 | 2009 | ||||||||||||||||||||||||||||||||||||
|
1 Divested Business: |
|||||||||||||||||||||||||||||||||||||||
| North America: | |||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions | $ | 0.0 | $ | 13.9 | $ | 32.0 | $ | 69.6 | |||||||||||||||||||||||||||||||
| Sales & Marketing Solutions | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||||||||||||||||||||||
| Internet Solutions | 0.0 | 0.3 | 0.9 | 0.7 | |||||||||||||||||||||||||||||||||||
| Total Divested Business | 0.0 | 14.2 | 32.9 | 70.3 | |||||||||||||||||||||||||||||||||||
| International: | |||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions | $ | 0.0 | $ | 0.0 | $ | 0.0 | $ | 18.7 | |||||||||||||||||||||||||||||||
| Sales & Marketing Solutions | 0.0 | 0.0 | 0.0 | 3.2 | |||||||||||||||||||||||||||||||||||
| Internet Solutions | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||||||||||||||||||||||
| Total Divested Business | 0.0 | 0.0 | 0.0 | 21.9 | |||||||||||||||||||||||||||||||||||
| Total Corporation: | |||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions | 0.0 | 13.9 | 32.0 | 88.3 | |||||||||||||||||||||||||||||||||||
| Sales & Marketing Solutions | 0.0 | 0.0 | 0.0 | 3.2 | |||||||||||||||||||||||||||||||||||
| Internet Solutions | 0.0 | 0.3 | 0.9 | 0.7 | |||||||||||||||||||||||||||||||||||
| Total Divested Business | $ | 0.0 | $ | 14.2 | $ | 32.9 | $ | 92.2 | |||||||||||||||||||||||||||||||
|
2 Strategic Technology Investment: |
|||||||||||||||||||||||||||||||||||||||
| Operating Expenses | $ | 9.9 | $ | 0.0 | $ | 30.3 | $ | 0.0 | |||||||||||||||||||||||||||||||
| Selling and Administrative Expenses | 2.0 | 0.0 | 5.5 | 0.0 | |||||||||||||||||||||||||||||||||||
| Depreciation and Amortization | 0.4 | 0.0 | 0.7 | 0.0 | |||||||||||||||||||||||||||||||||||
| Total Operating Costs | $ | 12.3 | $ | 0.0 | $ | 36.5 | $ | 0.0 | |||||||||||||||||||||||||||||||
|
3 Strategic Technology Investment: |
|||||||||||||||||||||||||||||||||||||||
| Capital Expenditures | $ | 0.0 | $ | 0.0 | $ | 4.1 | $ | 0.0 | |||||||||||||||||||||||||||||||
| Additions to Computer Software & Other Intangibles | $ | 4.2 | $ | 0.0 | $ | 4.7 | $ | 0.0 | |||||||||||||||||||||||||||||||
| AFX - After Effects of Foreign Exchange |
| BFX - Before Effects of Foreign Exchange |
| N/M - Not Meaningful |
|
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission. |
|
|
| The Dun & Bradstreet Corporation | Schedule 5 | |||||||||||||||||||||||||||||||||||||||||
| GAAP Revenue Reconciliation and Detail (unaudited) | ||||||||||||||||||||||||||||||||||||||||||
| Quarter Ended December 31, 2010 vs. 2009 | Full Year December 31, 2010 vs. 2009 | |||||||||||||||||||||||||||||||||||||||||
| Traditional/VAPs as a | Traditional/VAPs as a | |||||||||||||||||||||||||||||||||||||||||
| AFX | Effects of | BFX | % of Total Customer Solution Sets/Core | AFX | Effects of | BFX | % of Total Customer Solution Sets/Core | |||||||||||||||||||||||||||||||||||
| % Change | Foreign | % Change | 2010 | 2009 | % Change | Foreign | % Change | 2010 | 2009 | |||||||||||||||||||||||||||||||||
| Fav/(Unfav) | Exchange | Fav/(Unfav) | % Product Line/Core | % Product Line/Core | Fav/(Unfav) | Exchange | Fav/(Unfav) | % Product Line/Core |
% Product Line/Core |
|||||||||||||||||||||||||||||||||
|
Revenue: |
|
|||||||||||||||||||||||||||||||||||||||||
| North America: | ||||||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions: | ||||||||||||||||||||||||||||||||||||||||||
| Traditional | 0 | % | 0 | % | 0 | % | 66 | % | 36 | % | 67 | % | 37 | % | (2 | )% | 1 | % | (3 | )% | 68 | % | 41 | % | 69 | % | 41 | % | ||||||||||||||
| VAPs | 4 | % | 0 | % | 4 | % | 25 | % | 13 | % | 24 | % | 13 | % | 0 | % | 0 | % | 0 | % | 23 | % | 14 | % | 23 | % | 14 | % | ||||||||||||||
| Supply Management Solutions | 0 | % | 0 | % | 0 | % | 9 | % | 5 | % | 9 | % | 5 | % | 8 | % | 1 | % | 7 | % | 9 | % | 5 | % | 8 | % | 5 | % | ||||||||||||||
| Total Risk Management Solutions | 1 | % | 0 | % | 1 | % | 54 | % | 55 | % | (1 | )% | 0 | % | (1 | )% | 60 | % | 60 | % | ||||||||||||||||||||||
| Sales & Marketing Solutions: | ||||||||||||||||||||||||||||||||||||||||||
| Traditional | (13 | )% | 0 | % | (13 | )% | 28 | % | 11 | % | 34 | % | 13 | % | (11 | )% | 0 | % | (11 | )% | 33 | % | 10 | % | 37 | % | 11 | % | ||||||||||||||
| VAPs | 14 | % | 0 | % | 14 | % | 72 | % | 27 | % | 66 | % | 24 | % | 7 | % | 0 | % | 7 | % | 67 | % | 21 | % | 63 | % | 20 | % | ||||||||||||||
| Total Sales & Marketing Solutions | 5 | % | 0 | % | 5 | % | 38 | % | 37 | % | 0 | % | 0 | % | 0 | % | 31 | % | 31 | % | ||||||||||||||||||||||
| Internet Solutions | 0 | % | (1 | )% | 1 | % | 8 | % | 8 | % | (3 | )% | 0 | % | (3 | )% | 9 | % | 9 | % | ||||||||||||||||||||||
| Core Revenue | 2 | % | 0 | % | 2 | % | (1 | )% | 0 | % | (1 | )% | ||||||||||||||||||||||||||||||
| Divested Business | N/M | N/M | N/M | (53 | )% | 0 | % | (53 | )% | |||||||||||||||||||||||||||||||||
| Total North America Revenue | (2 | )% | 0 | % | (2 | )% | (4 | )% | 0 | % | (4 | )% | ||||||||||||||||||||||||||||||
| International: | ||||||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions: | ||||||||||||||||||||||||||||||||||||||||||
| Traditional | 10 | % | (2 | )% | 12 | % | 86 | % | 63 | % | 83 | % | 59 | % | 13 | % | 0 | % | 13 | % | 86 | % | 63 | % | 84 | % | 62 | % | ||||||||||||||
| VAPs | 7 | % | (4 | )% | 11 | % | 13 | % | 10 | % | 16 | % | 11 | % | (2 | )% | (1 | )% | (1 | )% | 13 | % | 10 | % | 15 | % | 11 | % | ||||||||||||||
| Supply Management Solutions | (6 | )% | (1 | )% | (5 | )% | 1 | % | 0 | % | 1 | % | 1 | % | 8 | % | 0 | % | 8 | % | 1 | % | 1 | % | 1 | % | 1 | % | ||||||||||||||
| Total Risk Management Solutions | 27 | % | (2 | )% | 29 | % | 73 | % | 71 | % | 16 | % | 0 | % | 16 | % | 74 | % | 74 | % | ||||||||||||||||||||||
| Sales & Marketing Solutions: | ||||||||||||||||||||||||||||||||||||||||||
| Traditional | 8 | % | (1 | )% | 9 | % | 56 | % | 14 | % | 58 | % | 16 | % | 31 | % | 2 | % | 29 | % | 58 | % | 15 | % | 53 | % | 13 | % | ||||||||||||||
| VAPs | 18 | % | 4 | % | 14 | % | 44 | % | 12 | % | 42 | % | 12 | % | 5 | % | 4 | % | 1 | % | 42 | % | 10 | % | 47 | % | 12 | % | ||||||||||||||
| Total Sales & Marketing Solutions | 13 | % | 2 | % | 11 | % | 26 | % | 28 | % | 19 | % | 3 | % | 16 | % | 25 | % | 25 | % | ||||||||||||||||||||||
| Internet Solutions | 1 | % | (1 | )% | 2 | % | 1 | % | 1 | % | 0 | % | 4 | % | (4 | )% | 1 | % | 1 | % | ||||||||||||||||||||||
| Core Revenue | 23 | % | (1 | )% | 24 | % | 17 | % | 1 | % | 16 | % | ||||||||||||||||||||||||||||||
| Divested Business | N/M | N/M | N/M | N/M | N/M | N/M | ||||||||||||||||||||||||||||||||||||
| Total International Revenue | 23 | % | (1 | )% | 24 | % | 10 | % | 1 | % | 9 | % | ||||||||||||||||||||||||||||||
| Total Corporation: | ||||||||||||||||||||||||||||||||||||||||||
| Risk Management Solutions: | ||||||||||||||||||||||||||||||||||||||||||
| Traditional | 3 | % | (1 | )% | 4 | % | 73 | % | 43 | % | 71 | % | 42 | % | 2 | % | 0 | % | 2 | % | 74 | % | 46 | % | 73 | % | 46 | % | ||||||||||||||
| VAPs | 5 | % | 0 | % | 5 | % | 21 | % | 12 | % | 22 | % | 13 | % | 0 | % | 0 | % | 0 | % | 20 | % | 13 | % | 21 | % | 13 | % | ||||||||||||||
| Supply Management Solutions | 0 | % | 0 | % | 0 | % | 6 | % | 4 | % | 7 | % | 4 | % | 8 | % | 1 | % | 7 | % | 6 | % | 4 | % | 6 | % | 4 | % | ||||||||||||||
| Total Risk Management Solutions | 8 | % | (1 | )% | 9 | % | 59 | % | 59 | % | 3 | % | 0 | % | 3 | % | 63 | % | 63 | % | ||||||||||||||||||||||
| Sales & Marketing Solutions: | ||||||||||||||||||||||||||||||||||||||||||
| Traditional | (7 | )% | 0 | % | (7 | )% | 34 | % | 12 | % | 38 | % | 13 | % | (1 | )% | 0 | % | (1 | )% | 38 | % | 12 | % | 40 | % | 12 | % | ||||||||||||||
| VAPs | 15 | % | 1 | % | 14 | % | 66 | % | 23 | % | 62 | % | 22 | % | 7 | % | 1 | % | 6 | % | 62 | % | 18 | % | 60 | % | 18 | % | ||||||||||||||
| Total Sales & Marketing Solutions | 6 | % | 0 | % | 6 | % | 35 | % | 35 | % | 4 | % | 1 | % | 3 | % | 30 | % | 30 | % | ||||||||||||||||||||||
| Internet Solutions | 1 | % | 0 | % | 1 | % | 6 | % | 6 | % | (3 | )% | 0 | % | (3 | )% | 7 | % | 7 | % | ||||||||||||||||||||||
| Core Revenue | 7 | % | 0 | % | 7 | % | 3 | % | 0 | % | 3 | % | ||||||||||||||||||||||||||||||
| Divested Business | N/M | N/M | N/M | (64 | )% | 1 | % | (65 | )% | |||||||||||||||||||||||||||||||||
| Total Revenue | 4 | % | 0 | % | 4 | % | (1 | )% | 0 | % | (1 | )% | ||||||||||||||||||||||||||||||
| AFX - After Effects of Foreign Exchange |
| BFX - Before Effects of Foreign Exchange |
| N/M - Not Meaningful |
|
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission. |
| The Dun & Bradstreet Corporation | Schedule 6 | ||||||||||||||||||||||||||||||||||||||
| Supplemental Revenue Data (unaudited) | |||||||||||||||||||||||||||||||||||||||
| Quarter Ended | |||||||||||||||||||||||||||||||||||||||
| % of Core Product Line | Dec 31, 2010 | Sep 30, 2010 | Jun 30, 2010 | Mar 31, 2010 | Dec 31, 2009 | Sep 30, 2009 | Jun 30, 2009 | Mar 31, 2009 | Dec 31, 2008 | Sep 30, 2008 | Jun 30, 2008 | Mar 31, 2008 | |||||||||||||||||||||||||||
| North America Risk Management Solutions | |||||||||||||||||||||||||||||||||||||||
| Subscription 1 | 67 | % | 69 | % | 71 | % | 71 | % | 69 | % | 70 | % | 69 | % | 65 | % | 59 | % | 58 | % | 55 | % | 50 | % | |||||||||||||||
| Non-Subscription 1 | 33 | % | 31 | % | 29 | % | 29 | % | 31 | % | 30 | % | 31 | % | 35 | % | 41 | % | 42 | % | 45 | % | 50 | % | |||||||||||||||
| North America Risk Management Solutions | |||||||||||||||||||||||||||||||||||||||
| DNBi 2 | 57 | % | 58 | % | 60 | % | 59 | % | 54 | % | 54 | % | 53 | % | 49 | % | 44 | % | 42 | % | 38 | % | 32 | % | |||||||||||||||
| Non-DNBi 2 | 43 | % | 42 | % | 40 | % | 41 | % | 46 | % | 46 | % | 47 | % | 51 | % | 56 | % | 58 | % | 62 | % | 68 | % | |||||||||||||||
| Full Year December 31, 2010 | Full Year December 31, 2009 | Full Year December 31, 2008 | |||||||||||||||||||||||||||||||||||||
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| % of Core International Revenue |
Amounts |
% of Core |
Amounts |
% of Core |
Amounts |
% of Core |
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| International: | |||||||||||||||||||||||||||||||||||||||
| Europe and Other International Markets (excluding Asia Pacific) | $ | 236.4 | 57 | % | $ | 218.2 | 61 | % | $ | 230.7 | 73 | % | |||||||||||||||||||||||||||
| Asia Pacific | 177.8 | 43 | % | 137.2 | 39 | % | 83.7 | 27 | % | ||||||||||||||||||||||||||||||
| Core Revenue | $ | 414.2 | $ | 355.4 | $ | 314.4 | |||||||||||||||||||||||||||||||||
| Notes: | ||
| 1 We define Subscription and Non-Subscription revenue as follows: | ||
|
- Subscription revenue represents contracts that allow customers
unlimited use within predefined ranges, subject to certain
conditions. In these |
||
| - Non-Subscription revenue represents all other revenue streams. | ||
| 2 We define DNBi and Non-DNBi revenue as follows: | ||
|
- DNBi, is our interactive, customizable online application that
offers our customers real time access to our most complete and
up-to-date global |
||
| - Non-DNBi revenue represents all other revenue streams. | ||
|
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission. |
||
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