First Advantage (FA) 8-K First Advantage Corporation Reports

Exhibit 99.1

100 Carillon ParkwayŸ St. Petersburg, FL 33716

NEWS FOR IMMEDIATE RELEASE

Contacts:
Renee Svec	Cindy Williams
Director – Marketing & Communications	Investor Relations Manager
727.214.3411, ext. 4112	727.214.3411, ext. 4160
rsvec@FADV.com	clwilliams@FADV.com

FIRST ADVANTAGE CORPORATION REPORTS

OPERATING RESULTS FOR FOURTH QUARTER AND FULL YEAR 2006

ST. PETERSBURG, Fla., Feb. 12, 2007—First Advantage Corporation (NASDAQ: FADV), a global risk mitigation and business solutions provider, today announced operating results for the fourth quarter and full year ended Dec. 31, 2006.

First Advantage reported net income of $18.2 million (31 cents per diluted share) and $66.2 million ($1.14 per diluted share) for the quarter and year ended Dec. 31, 2006, respectively. The company reported net income of $16.2 million (29 cents per diluted share) and net income of $58.4 million ($1.09 per diluted share) for the quarter and year ended Dec. 31, 2005, respectively. Results of operations for the quarter and year ended Dec. 31, 2006 include a pretax investment gain of $7.0 million ($4.1 million after tax or 7 cents per diluted share), and results of operations for the year and quarter ended Dec. 31, 2005 include a pretax investment gain of $9.5 million ($5.6 million after tax or 10 cents per diluted share). The investment gain in both years relates to the issuance of stock by DealerTrack Holdings, Inc., an unconsolidated investee accounted for on the equity method. Results of operations for the year ended Dec. 31, 2005 also include merger, relocation, and marketing-related expenses recorded in the second and third quarters of 2005 of approximately $5.8 million ($5.1 million after tax or 10 cents per diluted share).

The company adopted the provisions of FAS 123R, “Share Based Payment”, as of Jan. 1, 2006, using the modified prospective application method. Results of operations for the quarter and year ended Dec. 31, 2006, include share-based compensation expense of $2.4 million and $10.9 million, respectively, which reduced basic and diluted earnings per share by 3 cents for the fourth quarter of 2006, and 14 cents for the full year 2006.

Total revenue for the company was $206.1 million and $817.6 million for the quarter and year ended Dec. 31, 2006, respectively. Total revenue was $170.1 million and $643.7 million for the quarter and year ended Dec. 31, 2005, respectively.

Earnings before interest, taxes, depreciation and amortization, minority interest, gain on investment and share-based compensation expense (adjusted EBITDA) was $40.2 million and $173.6 million for the quarter and year ended Dec. 31, 2006, respectively. Adjusted EBITDA was $29.9 million and $127.5 million for the quarter and year ended Dec. 31, 2005, respectively representing a 34.4 and 36.2 percent increase.

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First Advantage Reports Operating Results for Fourth Quarter and Full Year 2006

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“We are pleased with our fourth quarter and full year 2006 operating results, both of which once again reflect our solid financial performance and demonstrate our commitment to strategic growth initiatives for our third consecutive year,” stated John Long, chief executive officer. “This year we will continue to focus on organic growth in all of our business segments, particularly in our Employer Services segment where we are seeing continued success of our on-going cross-sell strategies.

“We remain confident that our Lender Services segment will continue to gain market share in 2007 as we increase operational efficiencies and new products gain further industry-wide acceptance. We also see improvements in our Investigative and Litigation Support Services segment as we expand our geographic reach, most recently through the acquisition of DataSec, a computer forensics and electronic discovery company in the United Kingdom. Although First Advantage continues to seek products and services that are complementary to our strategic growth initiatives, we have become highly selective in our approach to future acquisitions.

“Operating margins increased in five of our business segments for the fourth quarter of 2006 compared to the fourth quarter of 2005: Lender Services, Data Services, Employer Services, Multifamily Services and Investigative and Litigation Support Services. Adjusted EBITDA increased by 34 percent from the fourth quarter of last year,” stated Long.

Management estimates that diluted earnings per share will be in the range of 26 to 28 cents for the first quarter ended Mar. 31, 2007. First Advantage’s fourth quarter and full year 2006 results will be discussed in more detail onMonday, Feb. 12, 2007, at 5:00 p.m. EST, via teleconference and webcast. The teleconference dial-in number is 888.455.0031 within the U.S. and 210.234.0001 outside the U.S. The teleconference pass code is “Advantage”. The live audio webcast of the call will be accessible from the Investor Relations section of First Advantage’s Web site atwww.FADV.com. An audio replay of the teleconference call will be available through Feb. 26, 2007, by dialing 866.357.4211 within the U.S., or 203.369.0126 outside the U.S. An audio archive of the webcast will also be available for replay on First Advantage’s Web site following the call.

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First Advantage Reports Operating Results for Fourth Quarter and Full Year 2006

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Summary Consolidated Income Statement (Unaudited)

(In thousands, except per share amounts)	Three Months Ended Dec. 31,						Twelve Months Ended Dec. 31,
	2006			2005			2006			2005
Service revenue	$	193,277		$	159,083		$	764,841		$	596,105
Reimbursed government fee revenue		12,780			10,975			52,723			47,644
Total revenue		206,057			170,058			817,564			643,749
Cost of service revenue		60,860			50,163			238,622			183,976
Government fees paid		12,780			10,975			52,723			47,644
Total cost of sales		73,640			61,138			291,345			231,620
Gross margin		132,417			108,920			526,219			412,129
Salaries and benefits		59,876			50,619			237,670			180,927
Facilities and telecommunications		7,862			6,769			30,067			25,743
Other operating expenses		28,115			21,940			98,965			79,851
Depreciation and amortization		10,783			8,520			39,152			27,605
Income from operations		25,781			21,072			120,365			98,003
Interest (expense) income:
Interest expense		(3,257	)		(2,503	)		(13,319	)		(6,618	)
Interest income		356			102			910			150
Interest (expense) income, net		(2,901	)		(2,401	)		(12,409	)		(6,468	)
Equity in earnings of investee		892			153			2,299			1,385
Gain on investment		6,993			9,471			6,993			9,471
Income before income taxes and minority interest		30,765			28,295			117,248			102,391
Provision for income taxes		11,735			11,593			47,773			43,522
Income before minority interest		19,030			16,702			69,475			58,869
Minority interest		875			510			3,314			443
Net income	$	18,155		$	16,192		$	66,161		$	58,426
Per share amounts:
Basic earnings per share	$	.31		$	.29		$	1.15		$	1 .10
Basic weighted-average shares outstanding		58,155			55,113			57,502			52,884
Diluted earnings per share	$	.31		$	.29		$	1.14		$	1.09
Diluted weighted-average shares outstanding		58,294			56,385			58,079			53,593
EBITDA and adjusted EBITDA calculation:
Net income	$	18,155		$	16,192		$	66,161		$	58,426
Minority interest		875			510			3,314			443
Gain in investment		(6,993	)		(9,471	)		(6,993	)		(9,471	)
Provision for income taxes		11,735			11,593			47,773			43,522
Interest expense		3,257			2,503			13,319			6,618
Depreciation and amortization		10,783			8,520			39,152			27,605
Earnings before interest, taxes, depreciation and amortization (EBITDA)*	$	37,812		$	29,847		$	162,726		$	127,143
Share based compensation expense		2,435			95			10,919			317
Adjusted EBITDA	$	40,247		$	29,942		$	173,645		$	127,460

* EBITDA and adjusted EBITDA are not measures of financial performance under generally accepted accounting principles. EBITDA and adjusted EBITDA are used by certain investors to analyze and compare companies.

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First Advantage Reports Operating Results for Fourth Quarter and Full Year 2006

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Segment Financial Information (Unaudited)

	Three Months Ended Dec. 31,									Twelve Months Ended Dec. 31,
(In thousands, except percentages)	2006 As Reported			2006 Proforma w/o Stock Based Comp			2005			2006 As Reported			2006 Proforma w/o Stock Based Comp			2005
Service revenue
Lender Services	$	40,968		$	40,968		$	39,364		$	175,991		$	175,991		$	168,327
Data Services		40,412			40,412			29,839			148,724			148,724			91,699
Dealer Services		27,990			27,990			26,105			120,780			120,780			98,357
Employer Services		55,279			55,279			39,388			195,180			195,180			143,839
Multifamily Services		14,743			14,743			14,121			68,811			68,811			63,254
Investigative & Litigation Support Services		14,711			14,711			11,438			59,162			59,162			34,580
Corporate		(826	)		(826	)		(1,172	)		(3,807	)		(3,807	)		(3,951	)
Consolidated	$	193,277		$	193,277		$	159,083		$	764,841		$	764,841		$	596,105
Income (Loss) from operations
Lender Services	$	11,802		$	11,975		$	10,609		$	54,271		$	54,979		$	48,205
Data Services		11,877			12,088			8,504			41,062			41,991			29,460
Dealer Services		2,299			2,413			3,037			16,113			16,545			13,559
Employer Services		5,871			6,222			3,537			19,832			21,445			13,301
Multifamily Services		2,105			2,264			1,966			15,128			15,940			16,122
Investigative & Litigation Support Services		2,555			2,694			1,075			11,377			11,971			2,107
Corporate		(10,728	)		(9,440	)		(7,656	)		(37,418	)		(31,587	)		(24,751	)
Consolidated	$	25,781		$	28,216		$	21,072		$	120,365		$	131,284		$	98,003
Operating margin percentage of service revenue
Lender Services		28.81	%		29.23	%		26.95	%		30.84	%		31.24	%		28.64	%
Data Services		29.39	%		29.91	%		28.50	%		27.61	%		28.23	%		32.13	%
Dealer Services		8.21	%		8.62	%		11.63	%		13.34	%		13.70	%		13.79	%
Employer Services		10.62	%		11.26	%		8.98	%		10.16	%		10.99	%		9.25	%
Multifamily Services		14.28	%		15.36	%		13.92	%		21.98	%		23.16	%		25.49	%
Investigative & Litigation Support Services		17.37	%		18.31	%		9.40	%		19.23	%		20.23	%		6.09	%
Corporate		N/A			N/A			N/A			N/A			N/A			N/A
Consolidated		13.34	%		14.60	%		13.25	%		15.74	%		17.16	%		16.44	%

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First Advantage Reports Operating Results for Fourth Quarter and Full Year 2006

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About First Advantage Corporation

First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and subprime markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 4,500 employees in offices throughout the United States and abroad. More information about First Advantage can be found atwww.FADV.com.

First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a FORTUNE 500^® company that traces its history to 1889. First American is America’s largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people’s lives. Additional information about the First American Family of Companies can be found atwww.firstam.com.

Certain statements in this press release, including those related to estimated diluted earnings per share in first quarter 2007, an increase in market share in the Lender Services segment in 2007 and future impact of organic growth on all segments are forward looking. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company’s Class A common stock; the company’s ability to successfully raise capital; the company’s ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; the degree and nature of the company’s competition; increases in the company’s expenses; continued consolidation among the company’s competitors and customers; unanticipated technological changes and requirements; the company’s ability to identify suppliers of quality and cost-effective data; and other risks identified from time-to-time in the company’s SEC filings. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Investors are advised to consult the company’s filings with the SEC, including its 2005 Annual Report on Form 10-K and subsequent amendments, for a further discussion of these and other risks.

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