On the heels of a first quarter profit gain of 18 percent, First Advantage Corp. said it would sell Credit Management Solutions Inc., its automotive consumer credit software business.
The decision is part of a systematic review of businesses to determine strategic fit and long-term sustainability, Anand Nallathambi, president and chief executive, said in a release.
The planned sale was announced in a first quarter financial release. First Advantage reported net income of $13.3 million, or 22 cents a share, for the three months ended March 31, compared to net income of $11.2 million, or 19 cents a share, for the first quarter of 2007.
