A replay of the call will also be available at this website following the conclusion of the call. We are reinstating our guidance, and based on the fourth quarter 2020 guidance, we expect to deliver modest revenue growth for the full year 2020. Diluted earnings per share is expected to be between $1.67 and $1.73, a decrease of 4 to 8 percent. In addition to factors previously disclosed in TransUnions reports filed with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the recent business acquisitions; the effects of pending and future legislation; risks related to disruption of management time from ongoing business operations due to the recent business acquisitions; macroeconomic factors beyond TransUnions control; risks related to TransUnions indebtedness and other consequences associated with mergers, acquisitions and divestitures, and legislative and regulatory actions and reforms. BNP Paribas Exane Initiates Coverage on TransUnion With Neutral Rating, $64.50 Price Ta.. North American Morning Briefing: Futures Dip As a -2-. The WARN notice requires companies laying off more than 100 employees with six months of service to publicly list layoffs. Net income attributable to TransUnion was $343 million for the year, compared with $347 million for 2019. Adjusted Net Income was $153 million for the quarter, compared with$144 million for the fourth quarter of 2019. GAAP Outlook: For 2021, revenue is expected to be between $2.817 billion and $2.877 billion, an increase of 4 to 6 percent compared with 2020. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. For the three months ended December 31, 2020, consisted of the following adjustments: a $(1.9) million gain from currency remeasurement of our foreign operations; a $(0.4) million recovery from the Fraud Incident (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), net of additional administrative expenses; and $0.9 million of deferred loan fees written off as a result of the prepayments on our debt.For the twelve months ended December 31, 2020, consisted of the following adjustments: $34.7 million for certain legal expenses; $0.9 million of deferred loan fees written off as a result of the prepayments on our debt; $0.2 million loss from currency remeasurement of our foreign operations; $0.2 million of fees related to our new swap agreements; a $(1.5) million recovery from the Fraud Incident, net of additional administrative expense; and $(0.4) million reimbursement of fees associated with the refinancing of our Senior Secured Credit Facility.For the three months ended December 31, 2019, consisted of the following adjustments: $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $1.2 million of administrative expenses associated with the Fraud Incident offset by the $(0.3) million portion that is attributable to the non-controlling interest; $0.5 million of deferred loan fees written off as a result of the prepayments on our debt; a $(1.7) million gain from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters.For the twelve months ended December 31, 2019, consisted of the following adjustments: $20.8 million of expenses (including $3.0 million of administrative expenses) associated with the Fraud Incident offset by the $(7.3) million portion that is attributable to the non-controlling interest; $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $2.0 million of deferred loan fees written off as a result of the prepayments on our debt; a $0.1 million loss from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. TransUnion Market Cap $12B Today's Change (-2.54%) -$1.57 Current Price $60.16 Price as of November 28, 2022, 4:00 p.m. Constant Currency (CC) growth rates assume foreign currency exchange rates are consistent between years. As a result, businesses and consumers can transact with confidence and achieve great things. Reconciliation of net income attributable to TransUnion to Adjusted Net Income: Amortization of certain intangible assets, Total adjustments before income tax items, Change in provision for income taxes per schedule 4, Anti-dilutive weighted stock-based awards outstanding. The revenue growth rates include approximately 1 percent of headwind from foreign exchange rates. This session and the accompanying presentation materials may be accessed at www.transunion.com/tru. As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below. Adjustments to reconcile net income to net cash provided by operating activities: Net loss/(gain) on investments in affiliated companies and assets-held-for sale, Net (earnings)/dividends, from equity method investments, Amortization of discount and deferred financing fees, Provision for losses on trade accounts receivable, Cash used in operating activities of discontinued operations, Proceeds from sale/maturity of other investments, Acquisitions and purchases of noncontrolling interests, net of cash acquired, Proceeds from disposals of assets held for sale, Cash used in investing activities of discontinued operations, Proceeds from issuance of common stock and exercise of stock options, Distributions to noncontrolling interests, Employee taxes paid on restricted stock units recorded as treasury stock, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents, beginning of period, For the Three Months Ended September 30, 2020 compared with the Three Months Ended September 30, 2019, For the Nine Months Ended September 30, 2020 compared with the Nine Months Ended September 30, 2019. TransUnion company profile. Adjusted Net Income was $156 million for the quarter, compared with$146 million for the third quarter of 2019. Boston home security company SimpliSafe is shutting down its Taunton warehouse and laying off its 58 employees. Adjusted EBITDA was $61 million, a decrease of 2 percent compared with the fourth quarter of 2019. In addition to factors previously disclosed in TransUnions reports filed with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the recent business acquisitions; the effects of pending and future legislation; risks related to disruption of management time from ongoing business operations due to the recent business acquisitions; macroeconomic factors beyond TransUnions control; risks related to TransUnions indebtedness and other consequences associated with mergers, acquisitions and divestitures, and legislative and regulatory actions and reforms. Net income attributable to TransUnion is expected to be between $321 million and $333 million, a decrease of 4 to 8 percent. Business performance continues to benefit from re 2020 will be a good year for consumer credit, TransUnion's researchers predict. GAAP Outlook: For the first quarter of 2021, revenue is expected to be between $698 million and $707 million, an increase of 2 to 3 percent compared with 2020. We are successfully working from home across the globe, and see no reason to rush our associates back into the office. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Emerging Verticals revenue, which includes Healthcare, Insurance and all other verticals, was $193 million, essentially flat (a decrease of 3 percent on an organic basis) compared with the fourth quarter of 2019. Neustar serves more than 8,000 clients worldwide, including 60 of the Fortune 100. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. TransUnion (NYSE: TRU) (the Company) today announced financial results for the quarter and year ended December31, 2020. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. Notable software and technology enabled services investments sponsored by Golden Gate Capital include Infor, BMC Software, LiveVox, Vector Solutions, Ex Libris, 2020 Technologies and Ensemble Health Partners. The revenue growth includes approximately 0.5 percent of benefit from acquisitions and 1 percent of benefit from foreign exchange rates. Neustars security business, Neustar Security Services, is excluded from the transaction and now operates as a standalone portfolio company of Golden Gate Capital and GIC. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release. Adjusted EBITDA margin was 38.5 percent, compared with 40.2 percent for the fourth quarter of 2019. Latin America revenue was $22 million, a decrease of 18 percent (5 percent on a constant currency basis) compared with the third quarter of 2019. Adjusted Outlook: For the first quarter of 2021, Adjusted EBITDA is expected to be between $268 million and $275 million, an increase of 2 to 4 percent compared with 2020. We present Adjusted Revenue as a supplemental measure of revenue because we believe it provides a basis to compare revenue between periods. TransUnion is a global information and insights company that makes trust possible in the modern economy. This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We look forward to beginning a smooth integration of the two businesses, said Chris Cartwright, President and CEO, TransUnion. Adjusted Diluted Earnings per Share for the quarter was$0.81, compared with$0.76for the third quarter of 2019. See More Ecosystem Guides. Total adjustments before income tax items from schedule 3, Noncontrolling interest portion of Adjusted Net Income adjustments, Eliminate impact of excess tax benefits for share compensation. We call this Information for Good. Read more about tech layoffs, here. For the three months ended December 31, 2020, consisted of the following adjustments: an $(8.1) million remeasurement gain on notes receivable that were converted into equity upon acquisition and consolidation of an entity; $3.5 million of acquisition expenses; and $1.3 million of adjustments to contingent consideration expense from previous acquisitions.For the twelve months ended December 31, 2020, consisted of the following adjustments: $8.3 million of acquisition expenses; $7.5 million of Callcredit integration costs; a $4.8 million loss on the impairment of a Cost Method investment; $1.6 million of adjustments to contingent consideration expense from previous acquisitions; an $(8.1) million remeasurement gain on notes receivable that were converted into equity upon acquisition and consolidation of an entity; a $(2.5) million gain on a Cost Method investment resulting from an observable price change for a similar investment of the same issuer; a $(1.8) million gain on the disposal of assets of a small business in our United Kingdom region; and a $(0.1) million reimbursement for transition services provided to the buyers of certain of our discontinued operations.For the three months ended December 31, 2019, consisted of the following adjustments: $5.3 million of Callcredit integration costs; a $1.7 million loss on assets of a small business in our United Kingdom region that are classified as held-for-sale; a $1.4 million loss on the impairment of a Cost Method investment; a $0.6 million adjustment to contingent consideration expense from previous acquisitions; $0.5 million of acquisition expenses; and a $(0.1) million reimbursement for transition services provided to the buyers of certain of our discontinued operations.For the twelve months ended December 31, 2019, consisted of the following adjustments: a $(31.2) million gain on a Cost Method investment resulting from an observable price change for a similar investment of the same issuer; a $(0.5) million reimbursement for transition services provided to the buyers of certain of our discontinued operations; $15.8 million of Callcredit integration costs; a $10.0 million loss on the impairment of certain Cost Method investments; a $3.7 million loss on assets of a small business in our United Kingdom region that are classified as held-for-sale; $2.6 million of acquisition expense; and a $1.2 million adjustment to contingent consideration expense from previous acquisitions. Effective Tax Rate and Adjusted Effective Tax Rate (Unaudited), Segment Depreciation and Amortization (Unaudited), Reconciliation of Non-GAAP Guidance (Unaudited), Senior Director of Public Relations, U.S. & International, TransUnion Announces Fourth Quarter 2020 Results, Audience Segmentation for Digital Marketing, Do not sell my personal information - CA residents only, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results, TransUnion Insurance Trends and 2023 Outlook Report Points to More Online Life Insurance Shopping, TransUnion Completes Sale of G2, LCI and Fintellix to Stellex Capital Management for $176 million, TransUnion Named a Leader in Identity Verification Solutions by Independent Research Firm, More Pronounced Changes Expected in Consumer Credit Market in 2023 Even as More Than Half of Americans Remain Optimistic About Their Financial Future, Study Finds 66% of Delinquent Child Support Payments Remain in Arrears 12 Months Later, Trade accounts receivable, net of allowance of $26.6 and $19.0, Property, plant and equipment, net of accumulated depreciation and amortization of $548.9 and $454.4, Other intangibles, net of accumulated amortization of $1,752.2 and $1,482.1, Short-term debt and current portion of long-term debt, Common stock, $0.01 par value; 1.0 billion shares authorized at December 31, 2020 and December 31, 2019; 195.7 million and 193.5million shares issued as of December 31, 2020 and December 31, 2019, respectively; and 190.5 million and 188.7million shares outstanding as of December 31, 2020 and December 31, 2019, respectively, Treasury stock at cost; 5.2 and 4.8million shares at December 31, 2020 and December 31, 2019, respectively, Cost of services (exclusive of depreciation and amortization below), Income from continuing operations attributable to TransUnion, Add: loss from discontinued operations, net of tax. This increase is partially offset by an estimated decrease to revenue for certain acquired non-core customer contracts that are not classified as discontinued operations that will expire within approximately one year from the date of acquisition. Net income attributable to TransUnion is expected to be between $372 million and $402 million, an increase of 8 to 17 percent. TransUnion (NYSE: TRU) and Neustar Inc. (Neustar), today announced that TransUnion has completed its $3.1 billion acquisition of Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC. The increase in cash used in investing activities was due primarily to proceeds from the disposal of discontinued operations in 2019 that did not recur in 2020, an increase in cash used for acquisitions and an increase in capital expenditures, partially offset by an increase in proceeds from the sale of investments in 2020. We define Adjusted EBITDA as net income (loss) attributable to TransUnion plus (less) loss (income) from discontinued operations, plus net interest expense, plus (less) provision (benefit) for income taxes, plus depreciation and amortization, plus (less) the revenue adjustments included in Adjusted Revenue, plus stock-based compensation, plus mergers, acquisitions, divestitures and business optimization-related expenses including Callcredit integration-related expenses, plus certain accelerated technology investment expenses to migrate to the cloud, plus (less) certain other expenses (income). Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. Simpson Thacher & Bartlett LLP served as legal advisor to TransUnion. There can be no assurance that the Company will achieve the results expressed by this guidance. warning symbol black and white copy and paste. Adjusted Revenue for the year was also $2.717 billion, an increase of 2 percent (3 percent on a constant currency basis, 2 percent on an organic constant currency basis). Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. Solutions that facilitate global commerce by enabling secure online transactions are in great demand in todays growing digital economy. Excluding the impact of the revenue from the divestment of assets held for sale, revenue would have increased 5 percent (2 percent on a constant currency basis) compared with the fourth quarter of 2019. Adjusted EBITDA is also a measure frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. The decrease in cash used in financing activities was due primarily to a decrease in debt prepayments of $150 million in 2020 compared with $340 million in 2019. They are not authored by Glassdoor. This rating reflects the overall rating of TransUnion and is not affected by filters. Want more demographic options? Great benefits, flexible time off. Lots turnover in some areas of the business, due to poor management, that's only a small portion of the business (specifically US Marketing team) The extent to which COVID-19 impacts our business and results of operations is inherently uncertain and will depend on numerous evolving factors that we may not be able to accurately predict. Net income (loss) attributable to TransUnion, Interest, taxes and depreciation and amortization, Stock-based compensation, mergers, acquisitions divestitures and business optimization-related expenses and other adjustments, Adjustments to diluted earnings per share. Copyright 2023 Surperformance. For the three months ended September 30, 2020, consisted of the following adjustments: $4.2 million for certain legal expenses; $0.4 million of loan fees; a $(0.8) million gain from currency remeasurement of our foreign operations; a $(0.9) million recovery from the Fraud Incident (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), net of additional administration expenses; and $(0.3) million other. Total revenue for the year was $2.717 billion, an increase of 2 percent compared with 2019 (3 percent on a constant currency basis, 3 percent on an organic constant currency basis). Senior Director of Public Relations, U.S. & International, TransUnion and Neustar Announce Transaction Close, Audience Segmentation for Digital Marketing, Neustars security business, Neustar Security Services, is excluded from the transaction, and now operates as a standalone portfolio company of, Do not sell my personal information - CA residents only, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results, TransUnion Insurance Trends and 2023 Outlook Report Points to More Online Life Insurance Shopping, TransUnion Completes Sale of G2, LCI and Fintellix to Stellex Capital Management for $176 million, TransUnion Named a Leader in Identity Verification Solutions by Independent Research Firm, More Pronounced Changes Expected in Consumer Credit Market in 2023 Even as More Than Half of Americans Remain Optimistic About Their Financial Future, Study Finds 66% of Delinquent Child Support Payments Remain in Arrears 12 Months Later. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Employees also rated TransUnion 4.2 out of 5 for work life balance, 4.2 for culture and values and 3.8 for career opportunities. Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. Business combination accounting rules require us to record deferred revenue of acquired entities at fair value if we are obligated to perform any future services under these contracts. Cash used in financing activities was $110 million compared with $373 million in 2019. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. In addition, our board of directors and executive management team use Adjusted Revenue as a compensation measure under our incentive compensation plans. The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. We define Adjusted EBITDA as net income (loss) attributable to TransUnion plus (less) loss (income) from discontinued operations, plus net interest expense, plus (less) provision (benefit) for income taxes, plus depreciation and amortization, plus (less) the revenue adjustments included in Adjusted Revenue, plus stock-based compensation, plus mergers, acquisitions, divestitures and business optimization-related expenses including Callcredit integration-related expenses, plus certain accelerated technology investment expenses to migrate to the cloud, plus (less) certain other expenses (income). As the manager of Singapores foreign reserves, we take a long-term, disciplined approach to investing, and are uniquely positioned across a wide range of asset classes and active strategies globally. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Adjusted EBITDA is also a measure frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours. The increase in cash provided by continuing operations was due primarily to a decrease in interest expense and a decrease in working capital, partially offset by a decrease in operating performance as a result of COVID-19. This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. United Kingdom revenue was $51 million, an increase of 1 percent (a decrease of 1 percent on a constant currency basis). Availability of Information on TransUnions Website. Acquisition revenue - related adjustments. The combination of TransUnions powerful digital identity assets and Neustars distinctive data and identity resolution capabilities presents enormous opportunities ahead.. Adjusted EBITDA was $67 million, an increase of 1 percent compared with the third quarter of 2019. CHICAGO, Feb. 25, 2021 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) today announced that its Board of Directors declared a cash dividend of $0.075 per share for the fourth quarter 2020. For the three months ended December 31, 2020, consisted of the following adjustments: an $(8.1) million remeasurement gain on notes receivable that were converted into equity upon acquisition and consolidation of an entity; $3.5 million of acquisition expenses; and $1.3 million of adjustments to contingent consideration expense from previous acquisitions.For the twelve months ended December 31, 2020, consisted of the following adjustments: $8.3 million of acquisition expenses; $7.5 million of Callcredit integration costs; a $4.8 million loss on the impairment of a Cost Method investment; $1.6 million of adjustments to contingent consideration expense from previous acquisitions; an $(8.1) million remeasurement gain on notes receivable that were converted into equity upon acquisition and consolidation of an entity; a $(2.5) million gain on a Cost Method investment resulting from an observable price change for a similar investment of the same issuer; a $(1.8) million gain on the disposal of assets of a small business in our United Kingdom region; and a $($0.1) million reimbursement for transition services provided to the buyers of certain of our discontinued operations.For the three months ended December 31, 2019, consisted of the following adjustments: $5.3 million of Callcredit integration costs; a $1.7 million loss on assets of a small business in our United Kingdom region that are classified as held-for-sale; a $1.4 million loss on the impairment of a Cost Method investment; a $0.6 million adjustment to contingent consideration expense from previous acquisitions; $0.5 million of acquisition expenses; and a $(0.1) million reimbursement for transition services provided to the buyers of certain of our discontinued operations.For the twelve months ended December 31, 2019, consisted of the following adjustments: a $(31.2) million gain on a Cost Method investment resulting from an observable price change for a similar investment of the same issuer; a $(0.5) million reimbursement for transition services provided to the buyers of certain of our discontinued operations; $15.8 million of Callcredit integration costs; a $10.0 million loss on the impairment of certain Cost Method investments; a $3.7 million loss on assets of a small business in our United Kingdom region that are classified as held-for-sale; $2.6 million of acquisition expenses; and a $1.2 million adjustment to contingent consideration expense from previous acquisitions.
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transunion layoffs 2020