Trans Union announced its 1st quarter revenue for 2011 – $245.9 million an increase of 8.3% compared 1st quarter of 2010. Tran Union’s operating income was $55.1 million, an increase of 19.5 percent compared to 1st quarter of 2010. The net loss from continuing operations attributable to Trans Union for the first quarter was $25.4 million compared to income of $25.0 million in the first quarter of 2010, a decrease of $50.4 million. This decrease was primarily due to a $59.3 million loss on the early extinguishment of debt(1) as a result of refinancing Trans Union’s senior secured credit facility in February 2011.

“As market conditions continued to stabilize, TransUnion had revenue improvements across all of our business segments,” said Bobby Mehta, President and Chief Executive Officer. “Revenue growth in the first quarter of 2011 versus the first quarter of 2010 was driven by double-digit revenue increases in Credit Marketing Services in our USIS segment, Emerging Markets in our International segment and the Interactive segment as a whole.”

Total cash and equivalents at March 31, 2011, was $116.7 million, down from $131.2 million at December 31, 2010. First quarter cash flow from continuing operations was $25.9 million. Key cash outflows included: $26.7 million used for cash capital expenditures, including $18.8 million paid in the first quarter of 2011 for assets purchased and accrued for in the fourth quarter of 2010; $16.1 million in costs related to refinancing our senior secured credit facility net of new debt proceeds; and $4.6 million used to pay principal on our restricted foreign cash loan. These outflows were offset by net inflows of $7.0 million for other items.

Trans Union is one of the “big three” nationwide consumer reporting agencies.  The other two are Equifax and Experian.  Trans Union was founded in 1968 and is headquartered in Chicago.  Trans Union employs more than 3,100 employees in 25 countries on five continents.

Consumer reporting agencies are continuing to report record earnings and profits despite the slow economy.  No wonder 44 Senate Republicans have promised to block Richard Cordray’s confirmation as the new of the Consumer Financial Protection Bureau unless  the White House agrees to major changes to the bureau that would weaken its  power.  Why should consumers allows the Senate to weaken the Consumer Financial Protection Bureau’s enforcement power of the Fair Credit Reporting Act and other consumer protection laws?  Haven’t we learned financial deregulation hurts consumers? Contact your Senators and let them know you support Richard Cordray’s nomination and you want stronger consumer credit reporting regulations passed in Washington, DC!