Equifax business remains strong, despite mortgage market slowdown

Equifax, a financial information company, said in a Wednesday earnings release that its business remains strong as it continues to see a slow mortgage market, the result of fewer refinancings.

The mortgage impact is expected to lessen by the end of the year, and investor relations vice president Jeff Dodge said Equifax is confident the company will be in good shape through 2014 and into 2015.

Equifax made $83.9 million in the first quarter, a 17 percent decrease from its year-ago profits of $101.1 million, largely due to the elimination of profits from some discontinued operations. Operating revenue of $584.5 million was up 3.2 percent over the first quarter 2013.

The company closed on two businesses that help small businesses make decisions, TDX Group and Forseva, in the quarter.

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