The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

D&B Announces Third Quarter 2012 Results and Reaffirms Full Year 2012 Guidance

<ul> <li class='bwlistitemmargb'> <i>Diluted EPS Before Non-Core Gains and Charges Up 24% From the Prior Year Similar Period; GAAP Diluted EPS Up 48%;</i> </li> <li class='bwlistitemmargb'> <i>Core Revenue Up 2% Before the Effect of Foreign Exchange (Up 1% After the Effect of Foreign Exchange);</i> </li> <li class='bwlistitemmargb'> <i>Total Revenue on a GAAP Basis Down 5% Before the Effect of Foreign Exchange (Down 6% After the Effect of Foreign Exchange);</i> </li> <li class='bwlistitemmargb'> <i>Announces Manny Conti has been named President, North America;</i> </li> <li class='bwlistitemmargb'> <i>Announces Byron Vielehr has been named President, International and Global Operations.</i> </li> </ul>

Thursday, October 25, 2012

D&B Announces Third Quarter 2012 Results and Reaffirms Full Year 2012 Guidance16:15 EDT Thursday, October 25, 2012 SHORT HILLS, N.J. (Business Wire) -- D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2012. “D&B had a solid third quarter despite a difficult environment, and we remain on track to meet our full year guidance,” stated Sara Mathew, Chairman and Chief Executive Officer. With 2012 mostly behind us, the management rotation between Byron and Manny is designed to get us ready for 2013. Both leaders have a deep understanding of our business and will play a critical role in driving value for our customers, shareholders and team members. Please join me in congratulating Manny and Byron on their new responsibilities.” Third Quarter 2012 ResultsDiluted earnings per share before non-core gains and charges for the quarter ended September 30, 2012 were $1.76, up 24% from $1.42 in the prior year similar period. On a GAAP basis, diluted earnings per share for the quarter ended September 30, 2012 were $1.76, up 48% from $1.19 in the prior year similar period. See attached Schedule 3 for a reconciliation of diluted earnings per share before non-core gains and charges to earnings per share on a GAAP basis, as well as the definitions of the non-GAAP financial measures that the Company uses to evaluate the business. Core revenue for the third quarter of 2012 was $413.2 million, up 2% before the effect of foreign exchange (up 1% after the effect of foreign exchange), as compared to the prior year similar period. Core revenue results for the third quarter of 2012 reflect the following by solution set: Risk Management Solutions revenue of $265.8 million, down 1% before the effect of foreign exchange (down 3% after the effect of foreign exchange), as compared to the prior year similar period; Sales & Marketing Solutions revenue of $117.5 million, up 11% before the effect of foreign exchange (up 10% after the effect of foreign exchange), as compared to the prior year similar period; and Internet Solutions revenue of $29.9 million, down 2% before the effect of foreign exchange (down 3% after the effect of foreign exchange), as compared to the prior year similar period. See attached Schedules 4, 5 and 6 for additional detail. Total revenue for the third quarter of 2012 was $413.2 million, down 5% before the effect of foreign exchange (down 6% after the effect of foreign exchange), as compared to the prior year similar period. Total revenue for the third quarter of 2011 included the results from businesses that were divested or shut down. Deferred revenue was $543.4 million, down 2% from the prior year similar period. See attached Schedule 3 for additional detail. Operating income before non-core gains and charges for the third quarter of 2012 was $127.9 million, up 8% from the prior year similar period, primarily due to reengineering savings as well as the effects of recent business divestitures. On a GAAP basis, operating income for the third quarter of 2012 was $109.7 million, up 9% from the prior year similar period. See attached Schedule 3 for additional detail. Net income attributable to D&B before non-core gains and charges for the third quarter of 2012 was $79.4 million, up 14% from the prior year similar period. On a GAAP basis, net income attributable to D&B for the third quarter of 2012 was $79.6 million, up 36% from the prior year similar period. See attached Schedule 3 for additional detail. Free cash flow for the first nine months of 2012, excluding the impact of legacy tax matters, was $255.2 million, including approximately $34 million related to MaxCV, compared with $230.9 million and $32 million, respectively, in the prior year similar period. The Company defines free cash flow as net cash provided by operating activities less capital expenditures and additions to computer software and other intangibles. On a GAAP basis, net cash provided by operating activities for the first nine months of 2012 was $307.1 million, compared with $271.2 million in the prior year similar period. See attached Schedule 4 for additional detail. Share repurchases during the third quarter of 2012 under the Company's discretionary repurchase program totaled $36.0 million (approximately 0.4 million shares), while there were no repurchases made to offset the dilutive effect of shares issued under employee benefit plans. The Company ended the third quarter of 2012 with $137.0 million of cash and cash equivalents and total gross debt of $1,024.1 million. Third Quarter 2012 Segment ResultsNorth AmericaCore revenue for the third quarter of 2012 was $308.3 million, up 1% both before and after the effect of foreign exchange, as compared to the prior year similar period. North America core revenue results for the third quarter of 2012 reflect the following: Risk Management Solutions revenue of $178.8 million, down 2% before the effect of foreign exchange (down 3% after the effect of foreign exchange), as compared to the prior year similar period; Sales & Marketing Solutions revenue of $100.5 million, up 10% both before and after the effect of foreign exchange, as compared to the prior year similar period; and Internet Solutions revenue of $29.0 million, down 3% both before and after the effect of foreign exchange, as compared to the prior year similar period. See attached Schedules 4, 5 and 6 for additional details. Total revenue for the third quarter of 2012 was $308.3 million, up 1% before the effect of foreign exchange (flat after the effect of foreign exchange), as compared to the prior year similar period. Total revenue for the third quarter of 2011 included the results of AllBusiness and Purisma that were divested. Operating income for the third quarter of 2012 was $117.3 million, up 5% from the prior year similar period, primarily due to higher total revenue and reengineering savings. Asia PacificCore revenue for the third quarter of 2012 was $44.8 million, up 9% before the effect of foreign exchange (up 4% after the effect of foreign exchange), as compared to the prior year similar period. Asia Pacific core revenue results for the third quarter of 2012 reflect the following: Risk Management Solutions revenue of $38.1 million, up 3% before the effect of foreign exchange (down 2% after the effect of foreign exchange), as compared to the prior year similar period; Sales & Marketing Solutions revenue of $6.5 million, up 73% before the effect of foreign exchange (up 58% after the effect of foreign exchange), as compared to the prior year similar period; and Internet Solutions revenue of $0.2 million, down 3% before the effect of foreign exchange (down 18% after the effect of foreign exchange), as compared to the prior year similar period. Total revenue for the third quarter of 2012 was $44.8 million, down 34% before the effect of foreign exchange (down 36% after the effect of foreign exchange), as compared to the prior year similar period. Total revenue for the third quarter of 2011 included the results from our market research business in China and the domestic portion of our Japanese operations that were divested, as well as our Roadway operations in China that were shut down. See attached Schedules 4, 5 and 6 for additional detail. Operating income before non-core gains and charges for the third quarter of 2012 was $6.4 million, up 29% from the prior year similar period, primarily due to the positive impact from the restructuring of our Japan operation where we exited the domestic Japanese market and retained the high margin cross border business. On a GAAP basis, operating income for the third quarter of 2012 was $5.1 million, up 1% from the prior year similar period. See attached Schedule 3 for additional detail. Europe & Other International MarketsCore and total revenue for the third quarter of 2012 was $60.1 million, up 3% before the effect of foreign exchange (down 4% after the effect of foreign exchange), as compared to the prior year similar period. Europe & Other International Markets core and total revenue results for the third quarter of 2012 reflect the following: Risk Management Solutions revenue of $48.9 million, up 4% before the effect of foreign exchange (down 3% after the effect of foreign exchange), as compared to the prior year similar period; Sales & Marketing Solutions revenue of $10.5 million, down 5% before the effect of foreign exchange (down 10% after the effect of foreign exchange), as compared to prior year similar period; and Internet Solutions revenue of $0.7 million, up 5% before the effect of foreign exchange (up 1% after the effect of foreign exchange), as compared to the prior year similar period. See attached Schedules 4, 5 and 6 for additional detail. Operating income for the third quarter of 2012 was $17.3 million, up 12% from the prior year similar period, primarily related to savings from our reengineering efforts, partially offset by the negative impact of foreign exchange. MaxCV In February 2010, D&B announced a Strategic Technology Investment program aimed at strengthening its leading position in commercial data and improving its current technology platform to meet the emerging needs of customers. We refer to this program as “MaxCV.” In the third quarter of 2012, the Company incurred $6.7 million of total pre-tax expenses (or $0.11 per diluted share) on MaxCV, which is included in the Non-Core Gains and Charges noted below, and $6.1 million of capital expenditures and additions to computer software and other intangibles related to MaxCV. For the full year 2012, the Company anticipates spending approximately $60 million on MaxCV. See attached Schedule 3 for additional detail. Non-Core Gains and Charges During the third quarters of 2012 and 2011, the Company recorded: A net pre-tax, non-core charge of $33.6 million in the third quarter of 2012, and a net pre-tax, non-core charge of $25.8 million in the third quarter of 2011; and A net after-tax, non-core gain of $0.2 million in the third quarter of 2012, and a net after-tax, non-core charge of $11.6 million in the third quarter of 2011. See attached Schedule 3 for additional explanations and details of these charges. D&B's restructuring charges may be viewed as recurringas they are part of its Financial Flexibility initiatives. In addition to reporting GAAP results, the Company reports results before restructuring charges and other non-core gains and charges because they do not reflect the Company's underlying business performance and they may have a disproportionate positive or negative impact on the results of its ongoing business operations. For additional information, see the section titled “Use of Non-GAAP Financial Measures” below. D&B Announces Changes to Global Leadership Team, Effective January 1, 2013Manny Conti has been named President, North America. Mr. Conti joined D&B in June 2003 and has held various roles of increasing responsibility. These positions included: Leader of Corporate Strategy, Vice President of Small Business Solutions in North America, President of Europe, Latin America and Partnerships, Chief Administrative Officer and President, International. Byron Vielehr has been named President, International and Global Operations. Mr. Vielehr joined D&B in July 2005 and has held various roles of increasing responsibility. These positions included: Chief Information Officer and Leader, Technology, Chief Quality Officer, President, Integration Solutions, President, Global Risk & Analytics and President, North America. Full Year 2012 Guidance D&B today reaffirmed its financial guidance for the full year 2012: Core revenue growth of 0% to 3%, before the effect of foreign exchange; Operating income growth of 4% to 7%, before non-core gains and charges; Diluted EPS growth at the high-end of our range of 8% to 11%, before non-core gains and charges; and Free cash flow of $275 million to $305 million, excluding the impact of legacy tax matters and any regulatory fees and fines associated with our China operations, and including expenses related to MaxCV. The impact of MaxCV has been excluded from our operating income and diluted EPS guidance and included in our free cash flow guidance. D&B does not provide guidance on a GAAP basis because D&B is unable to predict, with reasonable certainty, the future movement of foreign exchange rates or the future impact of non-core gains and charges, such as restructuring charges and legacy tax matters, which are a component of the most comparable financial measures calculated in accordance with GAAP. Non-core gains and charges are uncertain and will depend on several factors, including industry conditions, and could be material to D&B's results computed in accordance with GAAP. Use of Non-GAAP Financial Measures D&B reports non-GAAP financial measures in this press release and the schedules attached. See “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations – How We Manage Our Business” in the Company's Annual Report on Form 10-K for the year ending December 31, 2011, filed February 29, 2012 with the SEC, for a discussion of how the Company defines these measures, why it uses them and why it believes they provide useful information to investors. Additionally, these measures are defined in Schedule 3 attached to this press release. Third Quarter 2012 Teleconference As previously announced, D&B will review its third quarter financial results in a conference call with the investment community on Friday, October 26, 2012, at 8 a.m. ET. Live audio, as well as a replay of the conference call will be accessible on D&B's Investor Relations Web site at http://investor.dnb.com. ************** About Dun & Bradstreet®(D&B) Dun & Bradstreet (NYSE:DNB) is the world's leading source of commercial information and insight on businesses, enabling companies to Decide with Confidence® for 171 years. D&B's global commercial database contains more than 215 million business records. The database is enhanced by D&B's proprietary DUNSRight® Quality Process, which provides our customers with quality business information. This quality information is the foundation of our global solutions that customers rely on to make critical business decisions. D&B provides solution sets that meet a diverse set of customer needs globally. Customers use D&B Risk Management SolutionsTM to mitigate credit and supplier risk, increase cash flow and drive increased profitability; D&B Sales & Marketing SolutionsTM to increase revenue from new and existing customers; and D&B Internet SolutionsTM to convert prospects into clients faster by enabling business professionals to research companies, executives and industries, over the web. For more information, please visit www.dnb.com. Forward-Looking and Cautionary Statements This press release, including, in particular, the section titled "Full Year 2012 Guidance," contains projections of future results and other forward-looking statements that involve a number of trends, risks and uncertainties, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The following important factors could cause actual results to differ materially from those projected in such forward-looking statements. D&B relies significantly on third parties to support critical components of its business model in a continuous and high-quality manner, including third party data providers, strategic third party members in its D&B Worldwide Network, and third parties with whom it has significant outsourcing arrangements. D&B's ability to implement and derive the benefits of its Strategic Technology Investment program announced in February 2010 and to maintain sufficient investment in our technology infrastructure thereafter. Any consequences of the investigations of our China operations and risks associated with potential violations of the Foreign Corrupt Practices Act. Demand for D&B's products is subject to intense competition, changes in customer preferences and economic conditions which impact customer behavior. D&B's solutions and brand image are dependent upon the integrity and security of its global database and the continued availability thereof through the Internet and by other means, as well as our ability to protect key assets, such as our data centers. D&B's ability to secure its information technology infrastructure from cyber attack and unauthorized access. D&B's ability to maintain the integrity of its brand and reputation, which it believes are key assets and competitive advantages. D&B's ability to renew large contracts, the related revenue recognition and the timing thereof, or a shift in product mix, may impact its results of operations from period to period. As a result of the macro-economic challenges currently affecting the global economy, D&B's customers or vendors may experience problems with their earnings, cash flow, or both. This may cause its customers to delay, cancel or significantly decrease their purchases from D&B and impact their ability to pay amounts owed to D&B. In addition, D&B's vendors may substantially increase their prices without notice. Such behavior may materially, adversely affect D&B's earnings and cash flow. In addition, if economic conditions in the United States and other key markets deteriorate further or do not show improvement, D&B may experience material adverse impacts to its business, operating results and/or access to credit markets. D&B's results are subject to the effects of foreign economies, exchange rate fluctuations, legislative or regulatory requirements, such as the adoption of new or changes in accounting policies and practices, including pronouncements by the Financial Accounting Standards Board or other standard-setting bodies, and the implementation or modification of fees or taxes that it must pay to acquire, use, and/or redistribute data. Future laws or regulations with respect to the collection, compilation, use and/or publication of information and adverse publicity or litigation concerning the commercial use of such information, or changes in the rules governing the operation of the Internet, could have a material adverse effect on D&B's business and financial results. D&B's ability to acquire and successfully integrate other complementary businesses, products and technologies into its existing business, without significant disruption to its existing business or to its financial results. The continued adherence by third party members of the D&B Worldwide Network, or other third parties who license and sell under the D&B name, to D&B's quality standards, its brand and communication standards and to the terms and conditions of its commercial services arrangements. The profitability of D&B's international businesses depends on its ability to identify and execute on various initiatives, such as successfully managing its D&B Worldwide Network, complying with the Foreign Corrupt Practices Act and other anti-bribery and anti-corruption laws in all jurisdictions, and its ability to identify and contend with various challenges present in foreign markets, such as local competition and the availability of public records at no cost, or the adoption of new laws or regulations governing the collection, compilation, use and/or publication of information, particularly in emerging markets. D&B's future success requires that it attract and retain qualified personnel, including members of its sales force and technology teams, in regions throughout the world. D&B's ability to successfully implement its growth strategy requires that it successfully reduce its expense base through its Financial Flexibility initiatives, and reallocate certain of the expense-base reductions into initiatives that produce desired revenue growth. D&B is involved in various legal proceedings, the outcomes of which are unknown and uncertain with respect to the impact on D&B's cash flow and profitability. See the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and notes to the financial statements included therewith, for a more detailed description of these matters. D&B's ability to repurchase shares is subject to market conditions, including trading volume in its stock, and its ability to repurchase shares in accordance with applicable securities laws. D&B's projection for free cash flow is dependent upon its ability to generate revenue, its collection processes, customer payment patterns, the timing and volume of stock option exercises and the amount and timing of payments related to the tax and other matters and legal proceedings in which it is involved, as referenced above and as more fully described in the Company's filings with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and notes to the financial statements included therewith. For a more detailed discussion of the trends, risks and uncertainties that may affect D&B's operating and financial results and its ability to achieve the financial objectives discussed in this press release, readers should review the Company's filings with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q are available on its Web site at www.dnb.com and on the SEC's Web site at www.sec.gov. D&B cautions that the foregoing list of important factors is not complete and except as otherwise required by federal securities laws does not undertake any obligation to update any forward-looking statement.                     The Dun & Bradstreet CorporationSchedule 1Consolidated Statement of Operations (unaudited) - GAAP Results   Effects ofEffects ofQuarter EndedAFXForeignBFXYear-To-DateAFXForeignBFXSeptember 30,% ChangeExchange% ChangeSeptember 30,% ChangeExchange% ChangeDollar amounts in millions, except per share data   2012     2011   Fav (Unfav)Fav (Unfav)Fav (Unfav)   2012     2011   Fav (Unfav)Fav (Unfav)Fav (Unfav)   Revenue:   North America $ 308.3 $ 304.7 1 % 0 % 1 % $ 872.8 $ 879.2 (1 %) 0 % (1 %)   Asia Pacific 44.8 43.2 4 % (5 %) 9 % 133.2 122.1 9 % (3 %) 12 % Europe and Other International Markets   60.1     62.9   (4 %) (7 %) 3 %   175.8     179.0   (2 %) (5 %) 3 % International 104.9 106.1 (1 %) (6 %) 5 % 309.0 301.1 3 % (3 %) 6 %           Core Revenue $ 413.2 $ 410.8 1 % (1 %) 2 % $ 1,181.8 $ 1,180.3 0 % (1 %) 1 %   Divested and Other Business (1) - 28.6 N/M N/M N/M 18.1 79.5 (77 %) 1 % (78 %)           Total Revenue $ 413.2   $ 439.4   (6 %) (1 %) (5 %) $ 1,199.9   $ 1,259.8   (5 %) (1 %) (4 %)   Operating Income (Loss):   North America $ 117.3 $ 112.1 5 % $ 323.0 $ 324.0 0 %   Asia Pacific (2) 5.1 5.0 1 % (0.4 ) 10.7 N/M Europe and Other International Markets   17.3     15.4   12 %   46.1     36.2   27 % International 22.4 20.4 10 % 45.7 46.9 (3 %)   Corporate and Other (3) (30.0 ) (31.8 ) 6 % (95.3 ) (91.2 ) (5 %)           Total Operating Income 109.7 100.7 9 % 273.4 279.7 (2 %)   Interest Income 0.2 0.4 (52 %) 0.5 1.3 (60 %) Interest Expense (9.5 ) (9.1 ) (4 %) (27.8 ) (27.4 ) (1 %) Other Income (Expense) - Net (4) (15.4 ) (8.9 ) (73 %) (8.8 ) (20.5 ) 57 %           Non-Operating Income (Expense) - Net (24.7 ) (17.6 ) (40 %) (36.1 ) (46.6 ) 23 %           Income Before Provision for Income Taxes 85.0 83.1 2 % 237.3 233.1 2 %   Less: Provision for Income Taxes 4.8 24.7 81 % 37.3 68.4 46 % Equity in Net Income (Loss) of Affiliates 0.5 0.4 (7 %) 1.3 1.1 8 %           Net Income 80.7 58.8 37 % 201.3 165.8 21 %   Less: Net (Income) Loss Attributable to the Noncontrolling Interest (5) (1.1 ) (0.4 ) N/M (1.8 ) 1.0 N/M           Net Income Attributable to D&B (6)   79.6     58.4   36 %   199.5     166.8   20 %   Less: Allocation to Participating Securities 0.0 (0.1 ) 79 % (0.1 ) (0.2 ) 72 %           Net Income Attributable to D&B Common Shareholders   79.6     58.3   36 %   199.4     166.6   20 %   Basic Earnings Per Share of Common StockAttributable to D&B Common Shareholders $ 1.77   $ 1.19   49 % $ 4.29   $ 3.38   27 %   Diluted Earnings Per Share of Common StockAttributable to D&B Common Shareholders (7) $ 1.76   $ 1.19   48 % $ 4.26   $ 3.36   27 %           Weighted Average Number of Shares Outstanding:Basic   44.8     48.9   8 %   46.4     49.2   6 % Diluted   45.2     49.1   8 %   46.8     49.6   6 %   AFX - After Effects of Foreign ExchangeBFX - Before Effects of Foreign ExchangeN/M - Not Meaningful   See Schedule 3 (Notes to Schedules), which is an integral part of the consolidated statement of operations.This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.                       The Dun & Bradstreet CorporationSchedule 2Consolidated Statement of Operations (unaudited) - Before Non-Core Gains and Charges   Effects ofEffects ofQuarter EndedAFXForeignBFXYear-To-DateAFXForeignBFXSeptember 30,% ChangeExchange% ChangeSeptember 30,% ChangeExchange% ChangeDollar amounts in millions, except per share data   2012     2011   Fav (Unfav)Fav (Unfav)Fav (Unfav)   2012     2011   Fav (Unfav)Fav (Unfav)Fav (Unfav)   Revenue:   North America $ 308.3 $ 304.7 1 % 0 % 1 % $ 872.8 $ 879.2 (1 %) 0 % (1 %)   Asia Pacific 44.8 43.2 4 % (5 %) 9 % 133.2 122.1 9 % (3 %) 12 % Europe and Other International Markets   60.1     62.9   (4 %) (7 %) 3 %   175.8     179.0   (2 %) (5 %) 3 % International 104.9 106.1 (1 %) (6 %) 5 % 309.0 301.1 3 % (3 %) 6 %           Core Revenue $ 413.2 $ 410.8 1 % (1 %) 2 % $ 1,181.8 $ 1,180.3 0 % (1 %) 1 %   Divested and Other Business (1) - 28.6 N/M N/M N/M 18.1 79.5 (77 %) 1 % (78 %)           Total Revenue $ 413.2   $ 439.4   (6 %) (1 %) (5 %) $ 1,199.9   $ 1,259.8   (5 %) (1 %) (4 %)   Operating Income (Loss):   North America $ 117.3 $ 112.1 5 % $ 323.0 $ 324.0 0 %   Asia Pacific (2) 6.4 5.0 29 % 14.3 10.7 34 % Europe and Other International Markets   17.3     15.4   12 %   46.1     36.2   27 % International 23.7 20.4 16 % 60.4 46.9 29 %   Corporate and Other (3) (13.1 ) (14.0 ) 7 % (35.5 ) (40.6 ) 13 %           Total Operating Income 127.9 118.5 8 % 347.9 330.3 5 %   Interest Income 0.2 0.4 (52 %) 0.5 1.3 (60 %) Interest Expense (9.5 ) (9.1 ) (4 %) (27.8 ) (27.4 ) (1 %) Other Income (Expense) - Net (4) 0.0 (0.9 ) 99 % 0.2 (1.7 ) N/M           Non-Operating Income (Expense) - Net (9.3 ) (9.6 ) 3 % (27.1 ) (27.8 ) 3 %           Income Before Provision for Income Taxes 118.6 108.9 9 % 320.8 302.5 6 %   Less: Provision for Income Taxes 38.6 38.9 1 % 105.3 103.0 (2 %) Equity in Net Income (Loss) of Affiliates 0.5 0.4 (7 %) 1.3 1.1 8 %           Net Income 80.5 70.4 14 % 216.8 200.6 8 %   Less: Net (Income) Loss Attributable to the Noncontrolling Interest (5) (1.1 ) (0.4 ) N/M (1.7 ) 1.0 N/M           Net Income Attributable to D&B (5)   79.4     70.0   14 %   215.1     201.6   7 %   Less: Allocation to Participating Securities 0.0 (0.1 ) 82 % 0.0 (0.3 ) 75 %           Net Income Attributable to D&B Common Shareholders (6)   79.4     69.9   14 %   215.1     201.3   7 %   Basic Earnings Per Share of Common StockAttributable to D&B Common Shareholders $ 1.77   $ 1.43   24 % $ 4.63   $ 4.09   13 %   Diluted Earnings Per Share of Common StockAttributable to D&B Common Shareholders (7) $ 1.76   $ 1.42   24 % $ 4.60   $ 4.06   13 %           Weighted Average Number of Shares Outstanding:Basic   44.8     48.9   8 %   46.4     49.2   6 % Diluted   45.2     49.1   8 %   46.8     49.6   6 %   AFX - After Effects of Foreign ExchangeBFX - Before Effects of Foreign ExchangeN/M - Not Meaningful   See Schedule 3 (Notes to Schedules), which is an integral part of the consolidated statement of operations.This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.             The Dun & Bradstreet CorporationSchedule 3Notes to Schedules 1 and 2 (unaudited) and Definitions of Non-GAAP Measures       (1) The following table reconciles Divested and Other Business included in Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011     Divested and Other Business: Purisma $ - $ 1.4 $ - $ 3.1 AllBusiness - 0.9 - 3.1 Small Supply Management Company in North America - - - 1.1 Domestic Portion of Japan Operations - 15.9 12.7 45.4 Market Research Business in China - 4.7 - 11.3 Roadway China   -     5.7     5.4     15.5     Total Divested and Other Business $ -   $ 28.6   $ 18.1   $ 79.5     (2) The following table reconciles Asia Pacific Operating Income included in Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011     Asia Pacific Operating Income - GAAP Results (Schedule 1) $ 5.1 $ 5.0 $ (0.4 ) $ 10.7   Legal Fees and Other Shut-Down Costs Associated with Matters in China (1.3 ) - (1.8 ) - Impairments Related to Matters in China   -     -     (12.9 )   -     Asia Pacific Operating Income - Before Non-Core Gains and Charges (Schedule 2) $ 6.4   $ 5.0   $ 14.3   $ 10.7     (3) The following table reconciles Corporate and Other expenses included in Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011     Corporate and Other - GAAP Results (Schedule 1) $ (30.0 ) $ (31.8 ) $ (95.3 ) $ (91.2 )   Restructuring Charges (4.8 ) (5.3 ) (23.2 ) (18.0 ) MaxCV (6.7 ) (12.5 ) (25.6 ) (32.6 ) Legal Fees and Other Shut-Down Costs Associated with Matters in China   (5.4 )   -     (11.0 )   -     Corporate and Other - Before Non-Core Gains and Charges (Schedule 2) $ (13.1 ) $ (14.0 ) $ (35.5 ) $ (40.6 )   (4) The following table reconciles Other Income (Expense)-Net included in Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011     Other Income (Expense)-Net - GAAP Results (Schedule 1) $ (15.4 ) $ (8.9 ) $ (8.8 ) $ (20.5 ) Effect of Legacy Tax Matters (15.4 ) 0.3 (15.0 ) (7.4 ) Gain (Loss) on Sale of Businesses - - 6.0 - Gain (Loss) on Investment - (8.3 ) - (11.4 )         Other Income (Expense)-Net - Before Non-Core Gains and Charges (Schedule 2) $ -   $ (0.9 ) $ 0.2   $ (1.7 )   Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011   Total Pre-Tax Impacts: Restructuring Charges $ (4.8 ) $ (5.3 ) $ (23.2 ) $ (18.0 ) MaxCV (6.7 ) (12.5 ) (25.6 ) (32.6 ) Legal Fees and Other Shut-Down Costs Associated with Matters in China (6.7 ) - (12.8 ) - Impairments Related to Matters in China - - (12.9 ) - Effect of Legacy Tax Matters (15.4 ) 0.3 (15.0 ) (7.4 ) Gain (Loss) on Sale of Businesses - - 6.0 - Gain (Loss) on Investment - (8.3 ) - (11.4 )         Total Pre-Tax Impacts $ (33.6 ) $ (25.8 ) $ (83.5 ) $ (69.4 )   (5) The following table reconciles Net Income (Loss) Attributable to the Noncontrolling Interest Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011     Net Income (Loss) Attributable to the Noncontrolling Interest - GAAP Results (Schedule 1) $ (1.1 ) $ (0.4 ) $ (1.8 ) $ 1.0 Minority Share of Gain on Sale of Business - - (0.9 ) - Impairments Related to Matters in China - - 0.8 -         Net Income (Loss) Attributable to the Noncontrolling Interest - Before Non-Core Gains and Charges (Schedule 2) $ (1.1 ) $ (0.4 ) $ (1.7 ) $ 1.0     (6) The following table reconciles Net Income Attributable to D&B included in Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,Amounts in millions   2012     2011     2012     2011     Net Income Attributable to D&B - GAAP Results (Schedule 1) $ 79.6 $ 58.4 $ 199.5 $ 166.8   Restructuring Charges (3.0 ) (3.6 ) (14.7 ) (11.8 ) MaxCV (5.1 ) (9.2 ) (18.3 ) (25.2 ) Legal Fees and Other Shut-Down Costs Associated with Matters in China (4.7 ) - (8.6 ) - Impairments Related to Matters in China - - (12.1 ) - Gain (Loss) on Investment - (7.3 ) - (11.1 ) Effect of Legacy Tax Matters 13.0 - 13.0 4.8 Gain (Loss) on Sale of Businesses - - 11.1 - Minority Share of Gain on Sale of Business - - (0.9 ) - Tax Benefit on a Loss on the Tax Basis of a Legal Entity - 8.5 14.9 8.5         After-Tax Impact 0.2 (11.6 ) (15.6 ) (34.8 )         Net Income Attributable to D&B - Before Non-Core Gains and Charges (Schedule 2) $ 79.4   $ 70.0   $ 215.1   $ 201.6       (7) The following table reconciles Diluted Earnings Per Share Attributable to D&B included in Schedule 1 and Schedule 2: Quarter EndedYear-To-DateSeptember 30,September 30,       2012     2011     2012     2011     Diluted EPS Attributable to D&B - GAAP Results (Schedule 1) $ 1.76 $ 1.19 $ 4.26 $ 3.36   Restructuring Charges (0.07 ) (0.07 ) (0.32 ) (0.24 ) MaxCV (0.11 ) (0.19 ) (0.39 ) (0.51 ) Legal Fees and Other Shut-Down Costs Associated with Matters in China (0.11 ) - (0.19 ) - Impairments Related to Matters in China - - (0.26 ) - Gain (Loss) on Investment - (0.14 ) - (0.22 ) Minority Share of Gain on Sale of Business - - (0.02 ) - Effect of Legacy Tax Matters 0.29 - 0.28 0.10 Gain (Loss) on Sale of Businesses - - 0.24 - Tax Benefit on a Loss on the Tax Basis of a Legal Entity - 0.17 0.32 0.17         Diluted EPS Attributable to D&B - Before Non-Core Gains and Charges (Schedule 2) $ 1.76   $ 1.42   $ 4.60   $ 4.06     N/M - Not Meaningful   The following defines the non-GAAP measures used to evaluate performance:   *Total revenue excluding the revenue of divested and shut-down businesses is referred to as “core revenue.” Core revenue includes the revenue from acquired businesses from the date of acquisition*Core revenue growth, excluding the effects of foreign exchange, is referred to as “core revenue growth before the effects of foreign exchange.” We also separately, from time to time, analyze core revenue growth before the effects of foreign exchange among two components, “organic core revenue growth” and “core revenue growth from acquisitions”*Results (such as operating income, operating income growth, operating margin, net income, tax rate and diluted earnings per share) exclude Restructuring Charges (whether recurring or non-recurring) and certain other items that we consider do not reflect our underlying business performance. We refer to these Restructuring Charges and other items as “non-core gains and (charges)”* Net cash provided by operating activities minus capital expenditures and additions to computer software and other intangibles is referred to as “free cash flow   This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.                     The Dun & Bradstreet CorporationSchedule 4Supplemental GAAP Financial Data (unaudited)       Quarter EndedEffects ofYear-To-DateEffects ofSeptember 30,AFXForeignBFXSeptember 30,AFXForeignBFX% ChangeExchange% Change% ChangeExchange% ChangeAmounts in millions     2012     2011   Fav/(Unfav)Fav/(Unfav)Fav/(Unfav)   2012     2011   Fav/(Unfav)Fav/(Unfav)Fav/(Unfav)   Geographic and Customer Solution Set Revenue:North America: Risk Management Solutions $ 178.8 $ 183.5 (3 )% (1 )% (2 )% $ 518.5 $ 539.8 (4 )% 0 % (4 )% Sales & Marketing Solutions 100.5 91.6 10 % 0 % 10 % 267.3 253.1 6 % 0 % 6 % Internet Solutions   29.0     29.6   (3 )% 0 % (3 )%   87.0     86.3   1 % 0 % 1 %   Subtotal Core Revenue 308.3 304.7 1 % 0 % 1 % 872.8 879.2 (1 )% 0 % (1 )%   Divested and Other Business 1 - 2.3 N/M N/M N/M - 7.3 N/M N/M N/M         Total North America Revenue 308.3 307.0 0 % (1 )% 1 % 872.8 886.5 (2 )% 0 % (2 )%   Asia Pacific: Risk Management Solutions $ 38.1 $ 38.9 (2 )% (5 )% 3 % $ 112.2 $ 108.0 4 % (2 )% 6 % Sales & Marketing Solutions 6.5 4.1 58 % (15 )% 73 % 20.5 13.4 53 % (10 )% 63 % Internet Solutions   0.2     0.2   (18 )% (15 )% (3 )%   0.5     0.7   (12 )% (11 )% (1 )%   Subtotal Core Revenue 44.8 43.2 4 % (5 )% 9 % 133.2 122.1 9 % (3 )% 12 %   Divested and Other Business 1 - 26.3 N/M N/M N/M 18.1 72.2 (75 )% 1 % (76 )%         Total Asia Pacific Revenue 44.8 69.5 (36 )% (2 )% (34 )% 151.3 194.3 (22 )% 0 % (22 )%   Europe and Other International Markets: Risk Management Solutions $ 48.9 $ 50.6 (3 )% (7 )% 4 % $ 145.1 $ 147.8 (2 )% (5 )% 3 % Sales & Marketing Solutions 10.5 11.6 (10 )% (5 )% (5 )% 28.7 29.4 (2 )% (3 )% 1 % Internet Solutions   0.7     0.7   1 % (4 )% 5 %   2.0     1.8   9 % (3 )% 12 %   Subtotal Core Revenue 60.1 62.9 (4 )% (7 )% 3 % 175.8 179.0 (2 )% (5 )% 3 %   Divested and Other Business 1 - - 0 % 0 % 0 % - - 0 % 0 % 0 %         Total Europe and Other International Markets Revenue 60.1 62.9 (4 )% (7 )% 3 % 175.8 179.0 (2 )% (5 )% 3 %   International Risk Management Solutions $ 87.0 $ 89.5 (3 )% (7 )% 4 % $ 257.3 $ 255.8 1 % (3 )% 4 % Sales & Marketing Solutions 17.0 15.7 8 % (7 )% 15 % 49.2 42.8 15 % (5 )% 20 % Internet Solutions   0.9     0.9   (4 )% (7 )% 3 %   2.5     2.5   3 % (5 )% 8 %   Subtotal Core Revenue 104.9 106.1 (1 )% (6 )% 5 % 309.0 301.1 3 % (3 )% 6 %   Divested and Other Business 1 - 26.3 N/M N/M N/M 18.1 72.2 (75 )% 1 % (76 )%         Total International Revenue 104.9 132.4 (21 )% (4 )% (17 )% 327.1 373.3 (12 )% (1 )% (11 )%   Total Corporation: Risk Management Solutions $ 265.8 $ 273.0 (3 )% (2 )% (1 )% $ 775.8 $ 795.6 (3 )% (2 )% (1 )% Sales & Marketing Solutions 117.5 107.3 10 % (1 )% 11 % 316.5 295.9 7 % (1 )% 8 % Internet Solutions   29.9     30.5   (3 )% (1 )% (2 )%   89.5     88.8   1 % 0 % 1 %   Subtotal Core Revenue 413.2 410.8 1 % (1 )% 2 % 1,181.8 1,180.3 0 % (1 )% 1 %   Divested and Other Business 1 - 28.6 N/M N/M N/M 18.1 79.5 (77 )% 1 % (78 )%         Total Corporation Revenue   413.2     439.4     (6 )%   (1 )%   (5 )%   1,199.9     1,259.8   (5 )% (1 )% (4 )%   Operating Costs: Operating Expenses $ 124.2 $ 150.2 17 % $ 395.2 $ 431.1 8 % Selling and Administrative Expenses 154.5 162.6 5 % 448.2 470.4 5 % Depreciation and Amortization 20.0 20.6 3 % 59.9 60.6 1 % Restructuring Expense   4.8     5.3   8 %   23.2     18.0   (29 )%   Total Operating Costs 2 $ 303.5   $ 338.7   10 % $ 926.5   $ 980.1   6 %   Capital Expenditures 3 $ 1.0   $ 1.0   0 % $ 2.1   $ 3.0   30 %   Additions to Computer Software & Other Intangibles 3 $ 16.7   $ 12.7     (32 )% $ 49.8   $ 29.7   (68 )%     Quarter Ended   Amounts in millions     Sep 30, 2012Jun 30, 2012Mar 31, 2012Dec 31, 2011Sep 30, 2011Jun 30, 2011Mar 31, 2011   Net Debt Position: Cash and Cash Equivalents $ 137.0 $ 118.6 $ 117.7 $ 84.4 $ 89.5 $ 83.1 $ 83.6 Short-Term Debt (400.2 ) (400.6 ) (1.0 ) (1.1 ) (188.6 ) (160.9 ) (2.1 ) Long-Term Debt   (623.9 )   (613.0 )   (841.8 )   (963.9 )   (704.6 )   (700.6 )   (888.6 )   Net Debt $ (887.1 ) $ (895.0 ) $ (725.1 ) $ (880.6 ) $ (803.7 ) $ (778.4 ) $ (807.1 )     Year-To-Date     Amounts in millions       Sep 30, 2012Sep 30, 2011% Change Fav/(Unfav)   Free Cash Flow: Net Cash Provided By Operating Activities (GAAP Results) $ 307.1 $ 271.2 13 % Less: Capital Expenditures (GAAP Results) 3 2.1 3.0 30 % Additions to Computer Software & Other Intangibles (GAAP Results) 3   49.8     29.7   (68 )%   Free Cash Flow $ 255.2 $ 238.5 7 % Legacy Tax Matters (Refund) Payment   -     (7.6 ) N/M Free Cash Flow Excluding Legacy Tax Matters $ 255.2   $ 230.9     11 %     Year-To-Date     Amounts in millions       Sep 30, 2012Sep 30, 2011% Change Fav/(Unfav)   Net Cash Provided By Operating Activities excluding Legacy Tax Matters: Net Cash Provided By Operating Activities (GAAP Results) $ 307.1 $ 271.2 13 % Legacy Tax Matters (Refund) Payment   -     (7.6 ) N/M   Net Cash Provided By Operating Activities Excluding Legacy Tax Matters $ 307.1   $ 263.6     17 %     Notes:   Quarter EndedYear-To-DateSeptember 30,September 30,     2012     2011     2012     2011   1 Divested and Other Business: North America: Risk Management Solutions $ 0.0 $ 0.0 $ 0.0 $ 1.1 Sales & Marketing Solutions 0.0 1.4 0.0 3.1 Internet Solutions   0.0     0.9     0.0     3.1   Total Divested and Other Business $ 0.0   $ 2.3   $ 0.0   $ 7.3   Asia Pacific: Risk Management Solutions $ 0.0 $ 10.1 $ 8.7 $ 27.3 Sales & Marketing Solutions 0.0 16.2 9.4 44.9 Internet Solutions   0.0     0.0     0.0     0.0   Total Divested and Other Business $ 0.0   $ 26.3   $ 18.1   $ 72.2   Europe and Other International Markets: Risk Management Solutions $ 0.0 $ 0.0 $ 0.0 $ 0.0 Sales & Marketing Solutions 0.0 0.0 0.0 0.0 Internet Solutions   0.0     0.0     0.0     0.0   Total Divested and Other Business $ 0.0   $ 0.0   $ 0.0   $ 0.0   Total Corporation: Risk Management Solutions $ 0.0 $ 10.1 $ 8.7 $ 28.4 Sales & Marketing Solutions 0.0 17.6 9.4 48.0 Internet Solutions   0.0     0.9     0.0     3.1   Total Divested and Other Business $ 0.0   $ 28.6   $ 18.1   $ 79.5     2 MaxCV: Operating Expenses $ 6.6 $ 9.6 $ 26.8 $ 27.9 Selling and Administrative Expenses 0.0 2.0 (1.8 ) 2.4 Depreciation and Amortization   0.1     0.9     0.6     2.3   Total Operating Costs $ 6.7   $ 12.5   $ 25.6   $ 32.6     3 MaxCV: Capital Expenditures $ 0.0 $ 0.0 $ 0.0 $ 0.9 Additions to Computer Software & Other Intangibles $ 6.1   $ 4.3   $ 22.4   $ 9.7       AFX - After Effects of Foreign ExchangeBFX - Before Effects of Foreign ExchangeN/M - Not Meaningful   This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.                   The Dun & Bradstreet CorporationSchedule 5GAAP Revenue Reconciliation and Detail (unaudited)             Quarter Ended September 30, 2012 vs. 2011Year-To-Date September 30, 2012 vs. 2011Traditional/VAPs as aTraditional/VAPs as aAFXEffects ofBFX% of Total Customer Solution Sets/CoreAFXEffects ofBFX% of Total Customer Solution Sets/Core% ChangeForeign% Change20122011% ChangeForeign% Change20122011     Fav/(Unfav)ExchangeFav/(Unfav)% Product Line/Core% Product Line/CoreFav/(Unfav)ExchangeFav/(Unfav)% Product Line/Core% Product Line/Core   Revenue:North America: Risk Management Solutions: Traditional (2 )% 0 % (2 )% 68 % 39 % 68 % 41 % (3 )% 0 % (3 )% 70 % 42 % 69 % 42 % VAPs 1 % 0 % 1 % 24 % 14 % 23 % 14 % (6 )% 0 % (6 )% 22 % 13 % 23 % 14 % Supply Management Solutions (14 )% 0 % (14 )% 8 % 5 % 9 % 5 % (9 )% 0 % (9 )% 8 % 5 % 8 % 5 % Total Risk Management Solutions (3 )% (1 )% (2 )% 58 % 60 % (4 )% 0 % (4 )% 60 % 61 % Sales & Marketing Solutions: Traditional (4 )% 0 % (4 )% 26 % 9 % 29 % 9 % (11 )% 0 % (11 )% 24 % 7 % 28 % 8 % VAPs 16 % 0 % 16 % 74 % 24 % 71 % 21 % 12 % 0 % 12 % 76 % 23 % 72 % 21 % Total Sales & Marketing Solutions 10 % 0 % 10 % 33 % 30 % 6 % 0 % 6 % 30 % 29 % Internet Solutions (3 )% 0 % (3 )% 9 % 10 % 1 % 0 % 1 % 10 % 10 % Core Revenue 1 % 0 % 1 % (1 )% 0 % (1 )% Divested and Other Business N/M N/M N/M N/M N/M N/M   Total North America 0 % (1 )% 1 % (2 )% 0 % (2 )%   Asia Pacific: Risk Management Solutions: Traditional (5 )% (4 )% (1 )% 91 % 77 % 94 % 84 % 3 % (2 )% 5 % 90 % 76 % 91 % 81 % VAPs 46 % (2 )% 48 % 9 % 8 % 6 % 6 % 15 % 0 % 15 % 10 % 8 % 9 % 7 % Supply Management Solutions 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % Total Risk Management Solutions (2 )% (5 )% 3 % 85 % 90 % 4 % (2 )% 6 % 84 % 88 % Sales & Marketing Solutions: Traditional 47 % (19 )% 66 % 63 % 9 % 68 % 7 % 37 % (12 )% 49 % 66 % 10 % 73 % 8 % VAPs 80 % (7 )% 87 % 37 % 6 % 32 % 3 % 96 % (4 )% 100 % 34 % 6 % 27 % 3 % Total Sales & Marketing Solutions 58 % (15 )% 73 % 15 % 10 % 53 % (10 )% 63 % 16 % 11 % Internet Solutions (18 )% (15 )% (3 )% 0 % 0 % (12 )% (11 )% (1 )% 0 % 1 % Core Revenue 4 % (5 )% 9 % 9 % (3 )% 12 % Divested and Other Business N/M N/M N/M (75 )% 1 % (76 )%   Total Asia Pacific (36 )% (2 )% (34 )% (22 )% 0 % (22 )%   Europe and Other International Markets: Risk Management Solutions: Traditional (6 )% (8 )% 2 % 81 % 66 % 83 % 67 % (5 )% (5 )% 0 % 80 % 66 % 82 % 68 % VAPs 7 % (7 )% 14 % 17 % 14 % 15 % 12 % 10 % (4 )% 14 % 18 % 15 % 16 % 13 % Supply Management Solutions 16 % (19 )% 35 % 2 % 2 % 2 % 1 % 29 % (15 )% 44 % 2 % 2 % 2 % 1 % Total Risk Management Solutions (3 )% (7 )% 4 % 82 % 80 % (2 )% (5 )% 3 % 83 % 82 % Sales & Marketing Solutions: Traditional (20 )% (4 )% (16 )% 64 % 11 % 72 % 14 % (6 )% (3 )% (3 )% 63 % 10 % 66 % 11 % VAPs 17 % (9 )% 26 % 36 % 6 % 28 % 5 % 5 % (5 )% 10 % 37 % 6 % 34 % 6 % Total Sales & Marketing Solutions (10 )% (5 )% (5 )% 17 % 19 % (2 )% (3 )% 1 % 16 % 17 % Internet Solutions 1 % (4 )% 5 % 1 % 1 % 9 % (3 )% 12 % 1 % 1 % Core Revenue (4 )% (7 )% 3 % (2 )% (5 )% 3 % Divested and Other Business 0 % 0 % 0 % 0 % 0 % 0 %   Total Europe and Other International Markets (4 )% (7 )% 3 % (2 )% (5 )% 3 %   International: Risk Management Solutions: Traditional (5 )% (6 )% 1 % 85 % 71 % 88 % 74 % (1 )% (3 )% 2 % 85 % 70 % 86 % 73 % VAPs 16 % (7 )% 23 % 13 % 11 % 11 % 9 % 11 % (3 )% 14 % 14 % 12 % 13 % 11 % Supply Management Solutions 16 % (19 )% 35 % 2 % 1 % 1 % 1 % 29 % (15 )% 44 % 1 % 1 % 1 % 1 % Total Risk Management Solutions (3 )% (7 )% 4 % 83 % 84 % 1 % (3 )% 4 % 83 % 85 % Sales & Marketing Solutions: Traditional (3 )% (7 )% 4 % 64 % 10 % 71 % 11 % 8 % (6 )% 14 % 64 % 10 % 68 % 10 % VAPs 36 % (8 )% 44 % 36 % 6 % 29 % 4 % 29 % (5 )% 34 % 36 % 6 % 32 % 4 % Total Sales & Marketing Solutions 8 % (7 )% 15 % 16 % 15 % 15 % (5 )% 20 % 16 % 14 % Internet Solutions (4 )% (7 )% 3 % 1 % 1 % 3 % (5 )% 8 % 1 % 1 % Core Revenue (1 )% (6 )% 5 % 3 % (3 )% 6 % Divested and Other Business N/M N/M N/M (75 )% 1 % (76 )%   Total International (21 )% (4 )% (17 )% (12 )% (1 )% (11 )%   Total Corporation: Risk Management Solutions: Traditional (3 )% (2 )% (1 )% 74 % 48 % 74 % 50 % (2 )% (1 )% (1 )% 75 % 49 % 75 % 50 % VAPs 4 % (1 )% 5 % 21 % 13 % 20 % 13 % (2 )% 0 % (2 )% 19 % 13 % 19 % 13 % Supply Management Solutions (13 )% (1 )% (12 )% 5 % 4 % 6 % 4 % (7 )% 0 % (7 )% 6 % 4 % 6 % 4 % Total Risk Management Solutions (3 )% (2 )% (1 )% 65 % 67 % (3 )% (2 )% (1 )% 66 % 67 % Sales & Marketing Solutions: Traditional (4 )% (2 )% (2 )% 31 % 9 % 36 % 9 % (5 )% (1 )% (4 )% 30 % 8 % 34 % 9 % VAPs 17 % 0 % 17 % 69 % 19 % 64 % 17 % 13 % (1 )% 14 % 70 % 19 % 66 % 16 % Total Sales & Marketing Solutions 10 % (1 )% 11 % 28 % 26 % 7 % (1 )% 8 % 27 % 25 % Internet Solutions (3 )% (1 )% (2 )% 7 % 7 % 1 % 0 % 1 % 7 % 8 % Core Revenue 1 % (1 )% 2 % 0 % (1 )% 1 % Divested and Other Business N/M N/M N/M (77 )% 1 % (78 )%   Total Revenue (6 )% (1 )% (5 )%         (5 )% (1 )% (4 )%               AFX - After Effects of Foreign ExchangeBFX - Before Effects of Foreign ExchangeN/M - Not MeaningfulThis financial information should be read in conjunction with the consolidated financial statements and related notes ofThe Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.                   The Dun & Bradstreet CorporationSchedule 6           Quarter Ended   % of Core Product LineSep 30, 2012Jun 30, 2012Mar 31, 2012Dec 31, 2011Sep 30, 2011Jun 30, 2011Mar 31, 2011Dec 31, 2010   North America Risk Management Solutions Subscription 1 68 % 72 % 73 % 66 % 69 % 72 % 72 % 67 % Non-Subscription 1 32 % 28 % 27 % 34 % 31 % 28 % 28 % 33 %   North America Risk Management Solutions DNBi 2 60 % 63 % 63 % 57 % 59 % 61 % 60 % 57 % Non-DNBi 2 40 % 37 % 37 % 43 % 41 % 39 % 40 % 43 %                         Notes:   1 We define Subscription and Non-Subscription revenue as follows: - Subscription revenue represents contracts that allow customers unlimited use within predefined ranges, subject to certain conditions. In these instances, we recognize revenue ratably over the term of the contract, which is generally one year. - Non-Subscription revenue represents all other revenue streams.   2 We define DNBi and Non-DNBi revenue as follows: - DNBi, is our interactive, customizable online application that offers our customers real time access to our most complete and up-to-date global DUNSRight information, comprehensive monitoring and portfolio analysis. - Non-DNBi revenue represents all other revenue streams.       This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.   D&BPatricia Colpitts (Media)colpittsp@dnb.com512-578-8016orRoger Sachs, CFA (Investors/Analysts)sachsr@dnb.com973-921-5914