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
Total revenue for the company was
Earnings before interest, taxes, depreciation and amortization, minority
interest and share-based compensation expense (adjusted EBITDA) were
"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.
First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a FORTUNE 500(R) company that traces its history to 1889. First American is America's largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people's lives. Additional information about the First American Family of Companies can be found at http://www.firstam.com.
Certain statements in this press release are forward looking. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company's Class A common stock; the company's ability to successfully raise capital; the company's ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; the degree and nature of the company's competition; increases in the company's expenses; continued consolidation among the company's competitors and customers; unanticipated technological changes and requirements; the company's ability to identify suppliers of quality and cost-effective data; and other risks identified from time-to-time in the company's SEC filings. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Investors are advised to consult the company's filings with the SEC, including its 2006 Annual Report on Form 10-K and subsequent amendments, for a further discussion of these and other risks.
SOURCE First Advantage Corporation