First Advantage Corporation Reports Operating Results for the Second Quarter of 2007

ST. PETERSBURG , Fla., July 25 /PRNewswire-FirstCall/ -- First Advantage Corporation (Nasdaq: FADV), a global risk mitigation and business solutions provider, today announced operating results for the second quarter ended June 30, 2007...


ST. PETERSBURG , Fla., July 25 /PRNewswire-FirstCall/ -- First Advantage Corporation (Nasdaq: FADV), a global risk mitigation and business solutions provider, today announced operating results for the second quarter ended June 30, 2007 .

First Advantage reported net income of $18.3 million (31 cents per diluted share) for the quarter ended June 30, 2007 , compared with net income of $16.6 million (29 cents per diluted share) for the quarter ended June 30, 2006 .

Total revenue for the company was $221.0 million and $205.1 million for the quarters ended June 30, 2007 and June 30, 2006 , respectively.

Earnings before interest, taxes, depreciation and amortization, minority interest and share-based compensation expense (adjusted EBITDA) were $48.8 million and $46.6 million for the quarters ended June 30, 2007 and 2006, respectively.

"This quarter, we continue to see the benefits of our strategic growth initiatives," said Anand Nallathambi, president and chief executive officer. "Our Employer Services segment had solid revenue growth during the second quarter as a result of international cross-sell initiatives, product expansion and enhanced operational efficiencies. Although we experienced some volatility in the mortgage industry, our Lender Services segment continues to perform well as the result of increased market share and product mix.

"Margins were improved in our Data Services, Multifamily Services and Investigative and Litigation Support Services segments from the second quarter of last year. As for our Dealer Services segment, the subprime automotive lead processing business continues to face challenges due to market conditions and reorganization of the operations. The automotive credit portion, the bigger piece of the segment's business, produced consistent growth in credit transactions as a result of increasing market share."

First Advantage's second quarter 2007 results will be discussed in more detail on Wednesday, July 25, 2007 , at 5:00 p.m. EDT , via teleconference and webcast. The teleconference dial-in number is 888.791.1856 within the United States and 773.799.3727 outside the United States . The teleconference pass code is "Advantage". The live audio webcast of the call will be accessible from the Investor Relations section of First Advantage's Web site at http://www.FADV.com. An audio replay of the teleconference call will be available through August 8, 2007 , by dialing 866.501.2958 within the United States , or 203.369.1826 outside the United States . An audio archive of the webcast will also be available for replay on First Advantage's Web site following the call.

About First Advantage Corporation

First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and specialty finance markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in St. Petersburg , Fla., and has more than 4,700 employees in offices throughout the United States and abroad. More information about First Advantage can be found at http://www.FADV.com.

This content continues onto the next page...