Equifax apologizes again after massive data breach

After security breach costs, Equifax clears Q3 with $96M profit

The company said it did not know how much it would cost them to address any judgments, settlements or penalties as a result of the breach.

"We're hoping to win back their trust and then be able to regain the business that we've indicated has been deferred", Equifax Chief Financial Officer John Gamble said Friday, Reuters reported.

The Atlanta-based company said it recorded $87.5 million in expenses related to the hack during the quarter, including legal fees, investigation of the breach, and free credit monitoring for US consumers whose data was exposed in the breach.

Interim CEO Paulino do Rego Barros said during a U.S. Senate hearing on Wednesday the company is now spending four times more on cyber security than before the breach, but did not put a number on the rising expenses.

The company said in a third-quarter report released a day earlier that the breach was responsible for about $87.5 million in related expenses that period, including investigative and legal fees as well as expenses related to offering free protection to affected customers.

Free credit file monitoring and identity theft protection subsequently offered to all U.S. punters from September, cost $4.7m (recorded in the consumer support expenses mentioned above) but will range between $56m and $110m in total - customers have until the 31 January to sign up to this.

UCLA players could be stuck in China for months over shoplifting arrests
Asked later in the day whether he was anxious about his son, LaVar replied, according to ESPN: "He'll be fine, he'll be fine". The players will not play in Saturday's game against Georgia Tech.

Shares of Equifax, which reported after the closing bell, were down a penny in aftermarket trading at $108.94.

Analysts on Friday's call probed Equifax for further details on its recovery effort.

All told, the company said Thursday that its net income fell to $96.3 million, or 79 cents per share, for the three months ended September 30.

The company forecast fourth-quarter adjusted profit of $1.32 to $1.38 per share, below the average forecast of $1.42 per share, according to Thomson Reuters I/B/E/S.

"I and the entire Equifax organization apologize to the individuals whose personal information was stolen, as well as to our customers, partners, investors, managers and other constituents", Barros said. Third-quarter revenue climbed 3.8 percent to $834.8 million, missing the $847 million average estimate of 13 analysts surveyed by Bloomberg.

The latest management commentary "generally supports the view that the long-term business model looks at least okay", said Huff, who has an "equal weight" rating on Equifax shares.

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