First Advantage (FA) 8-K First Advantage Reports Operating Results for Fourth Quarter and Full Year 2007

First Advantage Reports Operating Results for Fourth Quarter and Full Year 2007

EXHIBIT 99.1

NEWS FOR IMMEDIATE RELEASE

Contacts:
Henri Van Parys	Cindy Williams
Corporate Communications Manager	Investor Relations Manager
727.214.3411, ext. 4136	727.214.3411, ext. 4160
henri.vanparys@FADV.com	clwilliams@FADV.com

FIRST ADVANTAGE CORPORATION REPORTS

OPERATING RESULTS FOR THE FOURTH QUARTER OF AND FULL YEAR 2007

POWAY, Calif., Feb. 20, 2008—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, 2007.

First Advantage reported income from continuing operations of $77.4 million ($1.30 per diluted share) for the quarter ended Dec. 31, 2007, compared to $17.6 million (30 cents per diluted share) for the quarter ended Dec. 31, 2006. Income from continuing operations for the quarter and year ended Dec. 31, 2007, includes a pretax investment gain of $97.4 million ($58.4 million after tax or 99 cents per diluted share) related to the sale of common stock of DealerTrack Holdings, Inc. and a $7.0 million gain ($4.1 million after tax or 7 cents per diluted share) related to DealerTrack in the quarter and year ended Dec. 31, 2006. Excluding these gains, diluted earnings per share from continuing operations was 31 cents in the fourth quarter of 2007, compared to 23 cents in the fourth quarter of 2006, a 35 percent increase.

Income from continuing operations was $124.0 million or $2.10 per diluted share for the year ended Dec. 31, 2007, compared to $65.6 million or $1.13 per diluted share for the year ended Dec. 31, 2006. Excluding the impact of the investment gains recognized in the fourth quarter of 2007 and 2006, earnings per diluted share from continuing operations was $1.11 in 2007, compared to $1.06 in 2006. Results of operations for 2007 include $8.0 million of severance costs incurred in the first quarter of 2007 ($4.7 million after tax or 8 cents per share) and $1.7 million of restructuring charges related to our Employer Services segment ($1.0 million after tax or 2 cents per share) recognized in the third quarter of 2007. Excluding these two items and the investment gains, diluted earnings per share from continuing operations increased from $1.06 in 2006 to $1.21 in 2007, an increase of 14 percent.

Income from discontinued operations for the quarter and year ended Dec. 31, 2007, was $12.2 million (21 cents per diluted share) and $14.1 million (24 cents per diluted share), respectively, which includes a gain of $12.1 million net of tax (21 cents per diluted share) for the sale of US SEARCH.com, our consumer location business.

Service revenue for the company was $192.1 million and $788.1 million for the quarter and year ended Dec. 31, 2007, respectively. Service revenue was $187.2 million and $745.1 million for the quarter and year ended Dec. 31, 2006, respectively.

Earnings before interest, taxes, depreciation and amortization, minority interest, gain on investment and share-based compensation expense (adjusted EBITDA) were $43.9 million and $175.9 million for the quarter and year ended Dec. 31, 2007, respectively. Adjusted EBITDA was $38.6 million and $170.4 million for the quarter and year ended Dec. 31, 2006.

“Considering the stiff headwinds encountered due to the economic environment, particularly in the mortgage credit and lead generation areas, we are pleased with our financial performance

-more-

First Advantage Reports Operating Results for Fourth Quarter and Full Year 2007

for the year 2007,” said Anand Nallathambi, First Advantage president and chief executive officer. “The diversity in our business segments combined with the broader set of industry verticals we serve helped deliver results that exceeded expectations.

“Our Employer Services segment reported solid sales growth with improved operating margins during the fourth quarter and full year, and accounted for almost one-third of our total service revenue in the fourth quarter of 2007. This segment benefits from a strong market position, especially in the middle market sector, across many industry verticals. In 2007, the cross-selling of products and services increased by 30 percent over the previous year. Our international operations, more specifically in foreign background screening and hiring management systems, have seen significant organic growth, 38 percent year-over-year. The outlook for further growth internationally is very promising.

“We are also pleased with the results of our Investigative and Litigation Support Services segment. Our e-discovery and professional services business, which includes computer forensics and data recovery, grew 67 percent year-over-year with significant margin improvements.

“While the uncertainty over the economic turnaround in the housing market and lead generation is still there, our 2008 business plan assumes recovery in those markets in the second half of the year. We expect service revenue for 2008 to be in the $825 million to $845 million range with diluted earnings per share of $1.27 to $1.32.”

Recently, First Advantage announced the acquisition of CredStar and Verify Ltd.

CredStar, the mortgage credit reporting business of Fiserv, Inc., is a strategic fit for the Lender Services segment. The unit adds scale and product feature functionality to the existing product mix and enhances First Advantage’s ability to penetrate adjacent markets for mortgage credit services.

The February purchase of Verify Ltd., a fast growing background screening company in Asia, extends the Employer Services segment’s reach into China, Malaysia, Hong Kong, Singapore and India. Specifically, Verify’s client base adds top-tier financial services institutions to First Advantage’s growing international client base, as well as adding operational scale, management bench strength and new products to build a sustainable competitive advantage in a key global growth market, Asia Pacific.

First Advantage’s fourth quarter and full year 2007 results will be discussed in more detail onWednesday, Feb. 20, 2008, at 5:00 p.m. EST, via teleconference and webcast. The teleconference dial-in number is 888.889.1652 within the U.S. and 210.795.9764 outside the U.S., and the passcode 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 March 5, 2008, by dialing 800.294.9511 within the U.S., or 203.369.3236 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.

-more-

First Advantage Reports Operating Results for Fourth Quarter and Full Year 2007

Summary Consolidated Income Statement (Unaudited)

	Three Months Ended Dec. 31,						Twelve Months Ended Dec. 31,
(In thousands, except per share amounts)	2007			2006			2007			2006
Service revenue	$	192,051		$	187,190		$	788,135		$	745,078
Reimbursed government fee revenue		12,841			12,780			54,767			52,723
Total revenue		204,892			199,970			842,902			797,801
Cost of service revenue		49,783			60,492			226,984			237,021
Government fees paid		12,841			12,780			54,767			52,723
Total cost of sales		62,624			73,272			281,751			289,744
Gross margin		142,268			126,698			561,151			508,057
Salaries and benefits		68,334			59,058			274,237			234,916
Facilities and telecommunications		7,999			7,716			32,420			29,548
Other operating expenses		24,930			24,621			94,802			86,403
Depreciation and amortization		11,097			10,436			42,118			37,774
Income from operations		29,908			24,867			117,574			119,416
Interest (expense) income:
Interest expense		(1,368	)		(3,257	)		(10,637	)		(13,319	)
Interest income		1,061			356			2,036			909
Interest (expense) income, net		(307	)		(2,901	)		(8,601	)		(12,410	)
Equity in earnings of investee		624			892			2,939			2,299
Gain on investment		97,380			6,993			97,380			6,993
Income from continuing operations before income taxes and minority interest		127,605			29,851			209,292			116,298
Provision for income taxes		50,324			11,360			84,080			47,383
Income from continuing operations before minority interest		77,281			18,491			125,212			68,915
Minority interest		(83	)		875			1,177			3,314
Income from continuing operations		77,364			17,616			124,035			65,601
Income from discontinued operations, net of tax		63			539			1,935			560
Gain on sale of discontinued operations, net of tax		12,137			—			12,137			—
Net income	$	89,564		$	18,155		$	138,107		$	66,161
Per share amounts, basic:
Income from continuing operations	$	1.31		$	0.30		$	2.11		$	1 .14
Income from discontinued operations, net of tax		—			0.01			0.03			0.01
Gain on sale of discontinued operations, net of tax		0.21			—			0.21			—
Net Income	$	1.52		$	0.31		$	2.35		$	1.15
Basic weighted-average shares outstanding		59,084			58,155			58,871			57,502
Per share amounts, diluted
Income from continuing operations	$	1.30		$	0.30		$	2.10		$	1.13
Income from discontinued operations, net of tax		—			0.01			0.03			0.01
Gain on sale of discontinued operations, net of tax		0.21			—			0.21			—
Net income	$	1.51		$	0.31		$	2.34		$	1.14
Diluted weighted-average shares outstanding		59,188			58,294			59,121			58,079
EBITDA calculation:
Net income	$	89,564		$	18,155		$	138,107		$	66,161
Provision for income taxes		50,324			11,360			84,080			47,383
Minority interest		(83	)		875			1,177			3,314
Interest expense		307			2,901			8,601			12,410
Depreciation and amortization		11,097			10,436			42,118			37,774
Gain on investment		(97,380	)		(6,993	)		(97,380	)		(6,993	)
Income from discontinued operations, net of tax		(63	)		(539	)		(1,935	)		(560	)
Gain on sale of discontinued operations, net of tax		(12,137	)		—			(12,137	)		—
Earnings before interest, taxes, depreciation and amortization (EBITDA)*	$	41,629		$	36,195		$	162,631		$	159,489
Share based compensation expense		2,316			2,435			13,258			10,919
Adjusted EBITDA	$	43,945		$	38,630		$	175,889		$	170,408

* 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.

-more-

First Advantage Reports Operating Results for Fourth Quarter and Full Year 2007

Segment Financial Information (Unaudited)

	Three Months Ended Dec. 31,						Twelve Months Ended Dec. 31,
(In thousands, except percentages)	2007			2006			2007			2006
Service revenue
Lender Services	$	27,583		$	40,968		$	151,163		$	175,991
Data Services		26,352			34,325			121,788			128,961
Dealer Services		25,084			27,990			113,448			120,780
Employer Services		61,629			55,279			233,163			195,180
Multifamily Services		15,296			14,743			72,276			68,811
Investigative & Litigation Support Services		36,666			14,711			98,955			59,162
Corporate		(559	)		(826	)		(2,658	)		(3,807	)
Consolidated	$	192,051		$	187,190		$	788,135		$	745,078
Income (Loss) from operations
Lender Services	$	2,107		$	11,802		$	33,109		$	54,271
Data Services		4,914			10,963			33,687			40,113
Dealer Services		3,272			2,299			14,510			16,113
Employer Services		10,666			5,871			29,126			19,832
Multifamily Services		2,365			2,105			18,621			15,128
Investigative & Litigation Support Services		16,482			2,555			34,154			11,377
Corporate		(9,898	)		(10,728	)		(45,633	)		(37,418	)
Consolidated	$	29,908		$	24,867		$	117,574		$	119,416
Operating margin percentage of service revenue
Lender Services		7.64	%		28.81	%		21.90	%		30.84	%
Data Services		18.65	%		31.94	%		27.66	%		31.10	%
Dealer Services		13.04	%		8.21	%		12.79	%		13.34	%
Employer Services		17.31	%		10.62	%		12.49	%		10.16	%
Multifamily Services		15.46	%		14.28	%		25.76	%		21.98	%
Investigative & Litigation Support Services		44.95	%		17.37	%		34.51	%		19.23	%
Corporate		N/A			N/A			N/A			N/A
Consolidated		15.57	%		13.28	%		14.92	%		16.03	%

-more-

First Advantage Reports Operating Results for Fourth Quarter and Full Year 2007

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 specialty finance 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 and renters insurance. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in Poway, Calif., and has 4,700 employees in offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.

First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a FORTUNE 500(R) 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 at www.firstam.com.

Certain statements in this press release are forward looking, including those related to earnings per share in 2008 and 2008 service revenue. 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 2006 Annual Report on Form 10-K and subsequent amendments, for a further discussion of these and other risks.

# # #