Equifax Inc. (EFX) has reported a 50.15 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $153.30 million, or $1.26 a share in the quarter, compared with $102.10 million, or $0.85 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $175.50 million, or $1.44 a share compared with $148.60 million or $1.23 a share, a year ago.

Revenue during the quarter grew 14.27 percent to $832.20 million from $728.30 million in the previous year period. Gross margin for the quarter contracted 137 basis points over the previous year period to 63.85 percent. Total expenses were 73.95 percent of quarterly revenues, down from 75.81 percent for the same period last year. This has led to an improvement of 186 basis points in operating margin to 26.05 percent.

Operating income for the quarter was $216.80 million, compared with $176.20 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $299.80 million compared with $249.30 million in the prior year period. At the same time, adjusted EBITDA margin improved 179 basis points in the quarter to 36.02 percent from 34.23 percent in the last year period.

"We are off to a strong start in 2017 with our first quarter performance. Broad-based growth was driven by our continued focus on new product innovation, delivering on our enterprise growth initiatives and execution of our vertical market strategies," said Richard F. Smith, chairman and chief executive officer at Equifax. "We remain confident about our outlook for growth in 2017."

For the second-quarter 2017, Equifax Inc. projects revenue to be in the range of $857 million to $862 million. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $1.55 to $1.58.

For financial year 2017, Equifax Inc. projects revenue to be in the range of $3,375 million to $3,425 million. The company forecasts diluted earnings per share to be in the range of $5.96 to $6.10 on adjusted basis.

The company has spent $49 million cash to meet investing activities during the quarter as against cash outgo of $1,778.80 million in the last year period.

The company has spent $63.30 million cash to carry out financing activities during the quarter as against cash inflow of $1,646.40 million in the last year period.

Cash and cash equivalents stood at $123.20 million as on Mar. 31, 2017, up 27.27 percent or $26.40 million from $96.80 million on Mar. 31, 2016.

Working capital remains negative

Working capital of Equifax Inc. was negative $496.10 million on Mar. 31, 2017 compared with negative $1,099.30 million on Mar. 31, 2016. Current ratio was at 0.59 as on Mar. 31, 2017, up from 0.36 on Mar. 31, 2016.

Days sales outstanding went down to 44 days for the quarter compared with 48 days for the same period last year.

At the same time, days payable outstanding was almost stable at 18 days for the quarter, when compared with the previous year period.