Question-and-Answer Session
Operator
(Operator Instructions). And the first question is from the line of Kyle Evans with Stephens. Please go ahead.
Kyle Evans - Stephens Inc.
Hey, good morning guys.
Rick Smith
Hi, Kyle.
Kyle Evans - Stephens Inc.
It looks like the revenue in the online CIS business outgrew the volume just slightly. Could you talk a little bit about pricing trends in that business?
Rick Smith
Yes, as we've talked before, we have initiated a series of strategic pricing initiatives across the entire company, including the US IS business. We have, I'm not going into a lot of details here, but we have teams now looking at all different segments; behavioral patterns, purchase volumes and trying to strategically think about how we price our clients. And it’s really helping us gain some traction. You know, we initiated that process about two years ago in Latin America. We elevated that now beyond Latin America and we are getting benefits across the business, including US IS, as we just noted.
Kyle Evans - Stephens Inc.
Okay. On the 7% pro forma year-over-year growth in TALX based on our numbers it looked like the work number kind of came in where we would have expected it, if it were still a standalone business. But that 7%, that $71 million looks a little bit light. Can you say something happen in the Pan Business or Tax Management Business there?
Rick Smith
Yes, all in all, the work number was unbelievably strong. We talked about the adds to the work number database which will help significantly in the third and fourth quarter. Pan had a slight miss, but that’s fairly de minimis right now, as TSA took a little more time to come up to speed. The unemployment business shows, strong, solid growth. The tax credit business had some challenges. Bill has done the right thing. We changed leadership there, increased the focus and we will get that back on track.
Kyle Evans - Stephens Inc.
Okay. Lastly, and then I will jump back in queue. In the past the TALX management has kind of broken out revenue in that Work Number business, and so we can quantify mortgage exposure can you talk about how much of the verification Work Number came from mortgage and also help us understand how much of the before online CIS business came from mortgage?
Rick Smith
Sure. Let me have Bill, Bill is with us, Bill, why don't you answer the first question on mortgage exposure for the verification Work Number?
- To read the full transcript on Seeking Alpha, click here »
