[February 03, 2014]

D&B Reports Fourth Quarter and Full Year 2013 Results; Announces Leadership Changes and Increases Dividend By 10%

D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today reported results for the fourth quarter and full year ended December 31, 2013.

"Fourth quarter results were in line with our expectations, with growth in both North America and International. With 2013 behind us, we are excited to execute our new strategy which is aimed at delivering long term sustainable growth," said President and CEO of D&B, Bob Carrigan. "I look forward to sharing our strategy and outlook for the future, including our 2014 guidance, with the investment community during our call tomorrow morning."

Fourth Quarter 2013 Highlights

• Core and total revenue up 4% year over year, before the effect of foreign exchange (up 3% after the effect of foreign exchange);
• Diluted EPS was $2.75 before non-core gains and charges, up 16% year over year; GAAP diluted EPS was $1.96, down 11%;
• Operating income before non-core gains and charges was flat year over year; GAAP operating income down 15%;
• We repurchased approximately 0.5 million shares for $54.9 million under the Company's discretionary repurchase program.

Full Year 2013 Highlights

• Core revenue up 1% year-over-year, both before and after the effect of foreign exchange. Total revenue was flat year over year before the effect of foreign exchange and down 1% after the effect of foreign exchange;
• Diluted EPS was $7.60 before non-core gains and charges, up 10% year over year; GAAP diluted EPS was $6.54, up 2%;
• Operating income before non-core gains and charges, was down 6% year over year; GAAP operating income was up 1%;
• Free cash flow for the full year 2013 was $278.2 million; Net cash provided by operating activities for the full year 2013 was $333.3 million;
• We repurchased approximately 3.5 million shares for $325.0 million under the Company's discretionary repurchase program.

See attached Schedules 3, 4 and 5 for additional detail.

Schedule 5 provides reconciliation to GAAP, as well as the definitions of the non-GAAP financial measures that the Company uses to evaluate the business.

Simplified Organizational Structure

"In connection with executing our strategy, which I will be discussing on our earnings call tomorrow, we are simplifying our organizational structure," said Carrigan. "My direct reports and I are excited to build on our global market position to drive value for our shareholders as well as our customers and partners, both existing and new."

Today the company announced a simplified organizational structure that includes six direct reports to Carrigan, each of whom has global responsibilities:

• Josh Peirez has been promoted to Chief Operating Officer and will lead the new Global Operating Team, which includes Content, Product, Technology, Alliances, Strategy, and Mergers & Acquisitions, as well as the Worldwide Partner network;
• Mark Geneste has been promoted to Chief Sales Officer, following our elimination of the separate roles of President, North America and President, International, effective February 4, 2014. Mr. Geneste will lead the Company's new Global Sales and Service team;
• Rishi Dave will join D&B as Chief Marketing Officer effective February 24, 2014. He joins D&B from Dell, Inc.;
• John Reid-Dodick joins D&B effective February 4, 2014, as Chief People Officer and was most recently with AOL, Inc.;
• Rich Veldran continues his position as Chief Financial Officer; and
• Chris Hill continues her position as Chief Legal Officer.

Emmanuel Conti, who currently serves as President, North America, notified us that he has been offered another professional opportunity and he will be leaving D&B during the first quarter of 2014.

Fourth Quarter 2013 Segment Results

North America

• Core and total revenue were $366.2 million, up 4%, year over year, both before and after the effect of foreign exchange.
• Operating income before non-core gains and charges was $155.9 million, down 1%, year over year. On a GAAP basis, operating income was $124.6 million, down 21%.

Asia Pacific

• Core and total revenue were $44.2 million, up 7%, year over year, before the effect of foreign exchange (flat after the effect of foreign exchange).
• Operating income before non-core gains and charges was $5.1 million, down 6%, year over year. On a GAAP basis, operating income was $3.1 million, down 39%.

Europe & Other International Markets

• Core and total revenue were $66.3 million, down 1%, year over year, before the effect of foreign exchange (flat after the effect of foreign exchange).
• Operating income was $23.5 million, up 4%, year over year.

Full Year 2013 Segment Results

North America

• Core and total revenue were $1,233.9 million, up 1%, year over year, both before and after the effect of foreign exchange.
• Operating income before non-core gains and charges was $438.7 million, down 9%, year over year. On a GAAP basis, operating income was $407.4 million, down 15%.

Asia Pacific

• Core revenue was $179.3 million, up 5%, year over year, before the effect of foreign exchange (up 2% after the effect of foreign exchange). Total revenue was $179.3 million, down 5%, year over year, before the effect of foreign exchange (down 8% after the effect of foreign exchange).
• Operating income before non-core gains and charges was $21.0 million, up 6%, year over year. On a GAAP basis, operating income was $19.0 million, compared to $4.7 million from the prior year similar period.

Europe & Other International Markets

• Core and total revenue were $242.0 million, flat, year over year, both before and after the effect of foreign exchange.
• Operating income was $72.9 million, up 6%, year over year.

See attached Schedules 3 and 5 for additional detail.

Non-Core Gains and Charges

In connection with a recent review of our business, we determined that the new data supply chain was not a necessary component of our go forward strategy to grow the business, and that our prior MaxCV goals to reduce the cost of operations to drive sustainability can be largely met without deployment of the new data supply chain. Accordingly, during the fourth quarter of 2014, we took a $28.2 million pre-tax non-core charge related to the write-off of the new data supply chain ($23.2 million net after-tax, non-core charge).

In addition, we identified certain other assets that we determined are not critical to our strategy to grow the business. We therefore took an aggregate of $5.1 million of pre-tax non-core charges related to the write-off of these assets ($3.9 million net after-tax, non-core charge).

See attached Schedule 5 for additional explanations and detail of these charges.

Cash Dividend Increased

D&B today announced that it has declared an increased quarterly cash dividend of $0.44 per share, up from D&B's prior quarterly dividend of $0.40 per share. This quarterly cash dividend is payable on March 12, 2014, to shareholders of record at the close of business on February 25, 2014.

Use of Non-GAAP Financial Measures

D&B's restructuring charges may be viewed as recurring as 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, such as legal and other professional expenses associated with the ongoing China investigation, 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.

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, 2012, filed February 28, 2013 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 5 attached to this press release.

Fourth Quarter 2013 Teleconference

As previously announced, an earnings teleconference is scheduled for Tuesday, February 4, 2014, at 8:00 a.m. (Eastern Time), in which D&B's President and CEO, Bob Carrigan, will discuss fourth quarter and full year results and share his strategic outlook for the Company as well as 2014 guidance. A question and answer period will follow. 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 172 years. D&B's global commercial database contains more than 230 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 two solution sets that meet a diverse set of customer needs globally. Customers use D&B Risk Management Solutions™ to mitigate credit and supplier risk, increase cash flow and drive increased profitability, and D&B Sales & Marketing Solutions™ to provide data management capabilities that provide effective and cost efficient marketing solutions and to convert prospects into clients by enabling business professionals to research companies, executives and industries.

Forward-Looking and Cautionary Statements

The statements in this press release that do not relate to historical facts may be forward-looking statements. These include, without limitation, any statements related to financial guidance or strategic goals. Forward-looking statements are inherently uncertain and are subject to a number of risks and uncertainties that could cause actual results and outcomes to be materially different from those indicated by the forward-looking statements. These risks and uncertainties include, among others, (i) reliance on third parties to support critical components of our business model; (ii) the level and effectiveness of our technology investments; (iii) our ability to protect our information technology infrastructure against cyber attack and unauthorized access; (iv) risks associated with potential violations of the Foreign Corrupt Practices Act and similar laws; (v) customer demand for our products; (vi) the successful implementation of our business strategy; (vii) the integrity and security of our global database and data centers; (viii) our ability to maintain the integrity of our brand and reputation; (ix) our ability to renew large contracts and the related revenue recognition and timing thereof; (x) the impact of macro-economic challenges on our customers and vendors; (xi) efforts to balance government deficits; (xii) future laws or regulations with respect to the collection, compilation, storage, use and/or publication of information and adverse publicity or litigation concerning the commercial use of such information; (xiii) our ability to acquire and successfully integrate other businesses, products and technologies; (xiv) adherence by third-party members of our D&B Worldwide Network, or other third parties who license and sell under the D&B name, to our quality standards and to the renewal of their agreements with D&B (xv) the effects of foreign and evolving economies, exchange rate fluctuations, legislative or regulatory requirements and the implementation or modification of fees or taxes to acquire, use and/or redistribute data; and (xvi) the other factors described under the headings "Risk Factors," "Management's Discussion and Analysis," "Legal Proceedings" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and the Company's other reports or documents filed or furnished with the Securities and Exchange Commission. D&B cautions that the foregoing list of important risk factors is not complete and except as otherwise required by federal securities laws does not undertake any obligation to update any forward-looking statement.