Dun & Bradstreet Corp. The Reports Operating Results (10-K)

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Feb 29, 2012
Dun & Bradstreet Corp. The (DNB, Financial) filed Annual Report for the period ended 2011-12-31.

Dun &bradst-new has a market cap of $4 billion; its shares were traded at around $83 with a P/E ratio of 13.1 and P/S ratio of 2.3. The dividend yield of Dun &bradst-new stocks is 1.8%. Dun &bradst-new had an annual average earning growth of 10.5% over the past 10 years. GuruFocus rated Dun &bradst-new the business predictability rank of 5-star.

Highlight of Business Operations:

Sales & Marketing Solutions is our second-largest customer solution set, accounting for 30%, 29% and 28% of our total revenue, respectively, for each of the years ended December 31, 2011, 2010 and 2009. Within this customer solution set, we offered traditional and value-added solutions. Our Traditional Sales & Marketing Solutions generally consist of marketing lists, labels and customized data files used by our customers in their direct mail and marketing activities. These solutions constituted 36% of our Sales & Marketing Solutions revenue and 11% of our total revenue for the year ended December 31, 2011.

Total revenue increased $81.9 million, or 5% (3% increase before the effect of foreign exchange), for the year ended December 31, 2011 as compared to the year ended December 31, 2010. The increase in total revenue was driven by an increase in Asia Pacific total revenue of $88.4 million, or 52% (43% increase before the effect of foreign exchange), and an increase in Europe and Other International Markets total revenue of $9.1 million, or 4% (less than 1% increase before the effect of foreign exchange), partially offset by a decrease in North America total revenue of $15.6 million, or 1% (both before and after the effect of foreign exchange).

Total revenue decreased $10.4 million, or 1% (both before and after the effect of foreign exchange), for the year ended December 31, 2010 as compared to the year ended December 31, 2009. The decrease in total revenue was primarily driven by a decrease in North America total revenue of $47.3 million, or 4% (both before and after the effect of foreign exchange), and a decrease in total revenue in Europe and Other International Markets of $3.9 million or 2% (less than 1% decrease before the effect of foreign exchange), partially offset by an increase in Asia Pacific total revenue of $40.8 million, or 31% (26% increase before the effect of foreign exchange). North America was impacted by the divestiture of our North American Self Awareness Solution business in the third quarter of 2010, which we reclassified as a divested business and accounted for $32.9 million and $70.3 million for the years ended December 31, 2010 and 2009, respectively.

North America total revenue decreased $15.6 million, or 1% (both before and after the effect of foreign exchange), for the year ended December 31, 2011 as compared to the year ended December 31, 2010. North America total revenue was negatively impacted by the divestiture of our North American Self Awareness Solution business in the third quarter of 2010, which we reclassified as a divested business and which accounted for $32.9 million in revenue for the year ended December 31, 2010. Excluding the impact of the divestiture, core revenue increased $17.3 million, or 1% (both before and after the effect of foreign exchange) for the year ended December 31, 2011.

Europe and Other International Markets total revenue decreased $3.9 million, or 2% (less than 1% decrease before the effect of foreign exchange), for the year ended December 31, 2010 as compared to the year ended December 31, 2009. Europe and Other International Markets was impacted by the divestiture of the domestic portion of our Italian operations in the second quarter 2009, which we reclassified as a divested business and accounted for $21.9 million for the year ended December 31, 2009. Excluding the impact of the divestiture, core revenue increased $18.0 million, or 8% (10% increase before the effect of foreign exchange).

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