Dun & Bradstreet reported earnings from continuing operations for the full year ending December 31, 2000 of $1.50 per diluted share, up 20 percent from $1.25 a year ago, excluding one-time items in both years. As reported and after one-time items, full-year earnings from continuing operations of 90 cents per diluted share were down 9 percent from the prior year.
D&B’s revenue from continuing operations was $1.4 billion for the full year, up 4 percent before the effect of foreign exchange and up one percent on a reported basis. Operating income from continuing operations for the year was $243.8 million, up 21 percent from a year ago, before one-time items. D&B’s income from continuing operations for the full year was $123.3 million, up 20 percent from a year ago, also before one-time items.
Our financial results were in line with our guidance, said Allan Z. Loren, chairman, chief executive officer and president of The Dun & Bradstreet Corporation. We are making good progress in implementing our Blueprint for Growth strategy. As we forecasted, international profitability improved, with Europe approaching breakeven and Asia Pacific/Latin America showing even greater than expected improvement. Additionally, we continue to migrate product delivery to the Web, achieving $239 million of Web-based revenue for the year, more than double 1999 levels and about 20 percent above our plan.
For the 2000 fourth quarter, earnings from continuing operations were 59 cents per diluted share, up 16 percent from 51 cents per diluted share in the year ago period, excluding one-time items in both years. Revenue for the quarter was $378.4 million, up 8 percent before the effect of foreign exchange and up 2 percent over the year ago period as reported. Operating income was $92.1 million, up 18 percent before one-time items. D&B’s income from continuing operations for the fourth quarter was $49.3 million, up 18 percent from the 1999 fourth quarter, also excluding one-time items.
