Verisk Reports Fourth-Quarter 2019 Financial Results

CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three and Twelve Months Ended December 31, 2019 and 2018

  Three Months Ended December 31,  Twelve Months Ended December 31,
  2019  2018  2019  2018
            
  (in millions, except for share and per share data)
Revenues$676.8  $613.9  $2,607.1  $2,395.1 
Operating expenses:           
Cost of revenues (exclusive of items shown separately below) 259.8   224.0   976.8   886.2 
Selling, general and administrative 124.8   97.7   603.5   378.7 
Depreciation and amortization of fixed assets 47.7   43.7   185.7   165.3 
Amortization of intangible assets 37.9   32.3   138.0   130.8 
Other operating expenses       6.2    
Total operating expenses 470.2   397.7   1,910.2   1,561.0 
Operating income 206.6   216.2   696.9   834.1 
Other income (expense):                    
Investment (loss) income and others, net   (1.4 )     (4.0 )     (1.7 )     15.3  
Interest expense   (33.1 )     (32.7 )     (126.8 )     (129.7 )
Total other expense, net   (34.5 )     (36.7 )     (128.5 )     (114.4 )
Income before income taxes   172.1       179.5       568.4       719.7  
Provision for income taxes   (39.9 )     (33.3 )     (118.5 )     (121.0 )
Net income $ 132.2     $ 146.2     $ 449.9     $ 598.7  
Basic net income per share $ 0.81     $ 0.89     $ 2.75     $ 3.63  
Diluted net income per share $ 0.80     $ 0.87     $ 2.70     $ 3.56  
Weighted-average shares outstanding:                      
Basic   163,289,013       164,344,502       163,535,438       164,808,110  
Diluted   166,218,621       167,346,841       166,560,115       168,297,836  

VERISK ANALYTICS, INC.

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