Equifax’s (NYSE:EFX) reported first quarter 2010 EPS of 56 cents exceeding the Zacks Consensus Estimate by 1 cent.

Revenue for the quarter was $461.3 million, up 3.0% from $446.6 million reported in the year-ago quarter. Revenue remained almost unchanged, when adjusted with respect to the favorable effect of the foreign exchange rates. This can be attributed to the increase in business in the North America personal and North America commercial solutions, which exceeded the company’s revenue growth expectations. This apart, the revival in the economy and the clients focus on new business opportunities also helped the company generate higher revenues.

Segment-wise, North American Commercial Solutions contributed $18.7 million, up 3.0% year over year. North American Personal Solutions contributed $39.7 million, up 3.0% year over year. International (including Europe, Canada and Latin America) contributed $116.2 million, up 15.0% year over year. Of this, Europe was up 2.0% year over year, Latin America up 20.0% and Canada Consumer segment up 25.0%, in US dollar terms. Even U.S. Consumer Information Solutions, which contributed $191.4 million, was down 6.0% year over year. The TALX segment, which generated $95.3 million, increased 8.0% year over year. TALX segment revenue increased as a result of increase in revenue of its sub-segments, Work Number revenue and Tax & Talent Management Services revenue.

Operating margin was 23.3% versus 24.5% in the year-ago quarter. This decline can be attributed to the substantial increase in total cost and expense, which increased 2.31% to $353.6 million (76.6% of revenue) in the first quarter from $345.6 million (77.6% of revenue) in the year-ago quarter.

Net income on a GAAP basis for the quarter was $56.7 million or $0.45 per share versus net income of $54.4 million or $0.43 per share in the same quarter last year. Excluding the impact of acquisition-related amortization expense, a restructuring charge (both net of tax) and including results of discontinued operations, non-GAAP net income per share was $0.56, flat compared to $0.58 in the first quarter of 2009.

The company exited the quarter with $77.1 million in cash and cash equivalents, down $26.0 million sequentially. Total long term debt as of March 31, 2010 increased $990.6 million, almost flat sequentially. Cash provided by operating activities was $37.7 million. This apart, the company repurchased 0.3 million of common shares during the first quarter of 2010 for $9.4 million. At March 31, 2010, the company has authorization for future share repurchases worth $112.5 million.

For the second quarter of 2010, Equifax expects revenue to be up in the low to mid single-digits from the year-ago quarter. This apart, the company has provided an expected adjusted EPS guidance range of $0.55 to $0.59.