Interactive Data 8-K Interactive Data Corporation Reports Continued Strong Growth with Revenue Up 11.2% and Net Income Up 36.4% in First Quarter of 2003

Exhibit 99.1

Interactive Data Corporation Reports Continued Strong Growth
with Revenue Up 11.2% and Net Income Up 36.4% in First Quarter of 2003

Diluted Earnings Per Share Rise 36.7% to $0.19

BEDFORD, MA, April 29, 2003 – Interactive Data Corporation (NYSE: IDC)today announced results for the first quarter ended March 31, 2003. Revenues increased 11.2% (or 8.6% before the effects of foreign exchange) to $99.5 million from $89.4 million for the first quarter of 2002. Net income rose 36.4% to $18.2 million, or $0.19 per diluted share, from $13.4 million, or $0.14 per diluted share, for last year’s same period.

Stuart Clark, president and chief executive officer, commented “We are very pleased to announce strong results for our first quarter, particularly our very strong earnings per share performance. These results were delivered against a background of significant economic and political uncertainty that clearly had an impact on the business climate in which we operate.

“Our performance again demonstrates our ability to grow in difficult market conditions, and to successfully integrate and deliver synergies from strategic acquisitions. This quarter’s results incorporate almost all the cost saving benefits envisioned from the Securities Pricing Service (SPS) acquired from Merrill Lynch on January 31, 2002. They also incorporate one month’s revenue and profit contribution from the ComStock business we acquired from Standard & Poor’s on February 28, 2003.

“During the quarter, all of our major business units achieved or exceeded their new sales targets but, at the same time, experienced levels of cancellations similar to last year’s levels. We had hoped to see signs that the focus on cost-cutting across the industries we serve was abating, but this did not happen. In fact, we saw a small fall in discretionary data downloading revenues compared to the fourth quarter of 2002. Despite this, we continued to achieve client renewal rates in our institutionally focused businesses at the 95% plus level.

“We have made a determination to no longer report information on earnings before interest, taxes, depreciation and amortization (EBITDA). Our historical use of EBITDA as a financial measure dates from periods when we did not have positive or significant net income to report, due mostly to the non-cash amortization of goodwill, as required by accounting rules at that time. Recently, the SEC has encouraged all companies to move away from any reliance on or use of non-GAAP financial measures and to focus instead on GAAP financial measures. These efforts culminated in the new SEC rules, effective March 28, 2003, regulating the use and disclosure of non-GAAP financial measures.”

Other First Quarter Operating and Financial Highlights:

• The recently acquired ComStock business contributed $5.1 million in revenues, all for the month of March. We are off to a good start in integrating the ComStock business into Interactive Data Corporation, and this is validating our view of the sales opportunities and infrastructure savings we originally anticipated.

• Growth across the rest of the business was driven mainly by FT Interactive Data, where revenue growth in North America was approximately 5.5% over the comparable three-month period in 2002. Asia-Pacific also experienced single digit growth. Europe remained our most challenging business area, with revenues having declined by just over 3% in the comparable three month period. Much of the growth across FT Interactive Data came from sales of high value evaluated pricing services on thinly traded securities and from our Fair Value Information Service, which has now been implemented by eight mutual fund organizations.

• CMS BondEdge revenues grew by just over 7% compared to the first quarter last year, with three new sales of the credit risk module having been achieved in the first quarter.

• Revenues in our eSignal business were flat compared to the same quarter last year, despite an 8% growth in revenues for the non-broadcast delivered core products. This growth was offset by a continued and expected decline in revenues from old broadcast-delivered products.

• Operating expenses for the first quarter rose by $3.7 million, or 6.4% compared to the first quarter of 2002. This is the result of the inclusion of one month’s costs from the ComStock business, partially offset by cost savings from last year’s SPS acquisition.

• With the acquisition of ComStock, revenues from the company’s eSignal and broadcast business, which made up our retail segment, will account for less than 10% of 2003 revenues. Consequently, we will no longer report the financial results of this segment separately in our financial statements.

As of March 31, 2003, Interactive Data Corporation had no outstanding debt and had cash and cash equivalents of $71.4 million. Under our previously announced 1 million share buyback program, we repurchased 100,000 shares during the quarter at an average price of $13.30 per share, for a total buyback of 200,000 shares since the inception of this most recent repurchase program in August 2002.

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2003 Outlook

We previously gave guidance for our 2003 financial results as 18-21% revenue growth and 15-19% earnings per share growth. Given the significant cost cutting pressures that we expect will continue to impact the industries we serve, we currently believe that we are most likely to achieve revenue growth on the lower end of the range and earnings per share growth in the middle to higher end of the range. We reaffirm the 2003 effective tax rate guidance of 38% to 39%. We also continue to expect our 2003 capital expenditures to range between $21 million and $23 million. We would point out, however, that the worldwide economic recession and political conditions, including the war with Iraq, have had an adverse impact on the financial markets that we serve. Consequently, if such conditions or their impacts worsen, our view of the company’s 2003 outlook could change.

Conference Call Information

Interactive Data Corporation’s management will conduct a conference call Tuesday, April 29th, at 11:00 a.m. Eastern Time to discuss the first quarter 2003 results and additional matters. The dial-in number for the call is 703-736-7226; no access code is required. Investors and interested parties may also listen to the call via a live web broadcast available through the Investor Relations section of the company’s web site at www.interactivedatacorp.com and through www.StreetEvents.com. To listen, please register and download audio software at the site at least 15 minutes prior to the call. A replay will be available on both web sites shortly after the call. In addition, a telephone replay will be available from April 29 at 2:00 p.m. through Tuesday, May 6, 2003. The replay can be accessed by dialing 703-925-2533 or 888-266-2081, passcode #6471552.

Forward-looking and Cautionary Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and is subject to the safe-harbor created by such Act. These statements include our statements regarding our ability to grow in difficult market conditions, our ability to successfully integrate and deliver synergies from strategic acquisitions, the anticipated sales opportunities and infrastructure savings we expect from the ComStock acquisition, expected revenue growth or declines, and all other statements discussing future financial conditions, results or projections, including those appearing under the heading “2003 Outlook”. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include, but are not limited to: (i) the presence of competitors with greater financial resources than the company’s and their strategic response to the company’s services and products; (ii) changes in technology, which could affect the competitiveness of the company’s products and services; (iii) maintaining relationships with key suppliers and providers of market data; (iv) a continuing decline in activity levels in the securities markets, which could lower demand for the company’s products and services; (v) the impact of the difficult worldwide economic conditions and political conditions, including the war with Iraq, on the financial markets and the industries we serve; (vi) the impact of cost cutting pressures across the industries we serve; (vii) consolidation of financial services, both within an industry and across industries, which could lower demand for the company’s products and services; (viii) a prolonged outage at one of the company’s data centers; (ix) the ability of the company to broaden its subscriber base; (x) difficulty or unexpected complications the company may experience integrating or operating the ComStock business; (xi) ComStock revenues may materialize at lower than expected levels; (xii) a decline in market acceptance of the company’s products or the potential obsolescence of the company’s services due to the introduction of new technologies; and (xiii) the failure of one or more new business initiatives. The company undertakes no obligation to update these forward-looking statements.

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About Interactive Data Corporation

Interactive Data Corporation is a leading global provider of securities pricing, financial information, and analytic tools to institutional and individual investors. The company supplies time-sensitive pricing (including evaluated pricing), dividend, corporate action, and descriptive information for more than 3.5 million securities traded around the world, including hard-to-value instruments. The company links to most of the world’s best-known financial service and software companies for trading, analysis, portfolio management, and valuation.

Interactive Data Corporation is headquartered in Bedford, Massachusetts. Through its branded businesses, FT Interactive Data, ComStock, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 1,800 employees in offices located throughout North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 60 percent of Interactive Data Corporation.

Company Contact
Steven Crane
Chief Financial Officer
(781) 687-8309
Steven.Crane@ftid.com Media Contact
Jeanne Murphy
Interactive Data Corporation
(781) 687-8548
Jeanne.Murphy@ftid.com Investor Relations Contact
Harriet Fried
Lippert/Heilshorn & Assoc.
(212) 838-3777
hfried@lhai.com

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INTERACTIVE DATA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands except per share data)

		Three Months Ended
		March
		2003		2002		Change
SERVICE REVENUES		$	99,477	$	89,442		11.2	%
COSTS & EXPENSES
	Cost of Services		31,039		26,491		17.2	%
	Selling, general & administrative		31,153		31,984		-2.6	%
	Depreciation		4,020		3,403		18.1	%
	Amortization		4,117		6,204		-33.6	%
	Total costs & expenses		70,329		68,082		3.3	%
INCOME FROM OPERATIONS			29,148		21,360		36.5	%
	Other income, net		510		392		30.1	%
INCOME BEFORE INCOME TAXES			29,658		21,752		36.3	%
Provision for Income Taxes			11,418		8,380		36.3	%
NET INCOME			18,240		13,372		36.4	%
NET INCOME PER SHARE
	Basic		0.20		0.15		34.6	%
	Diluted		0.19		0.14		36.7	%
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
	Basic		91,795		90,571		1.4	%
	Diluted		93,722		93,947		-0.2	%

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INTERACTIVE DATA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In Thousands)

			March 31,			December 31,
			2003			2002
			(Unaudited)
ASSETS
Current Assets:
	Cash and cash equivalents		$	71,352		$	153,243
	Accounts receivable, net			64,735			53,924
	Receivable from affiliates			—			—
	Prepaid expenses and other current assets			6,814			5,366
	Deferred income taxes			6,462			6,487
		Total current assets		149,363			219,020
Property and equipment, net				38,875			36,786
Goodwill				447,417			381,790
Other intangible assets, net				198,686			125,003
Other assets				2,633			2,628
		Total Assets	$	836,974		$	765,227
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
	Accounts payable, trade		$	9,288		$	10,805
	Payable to affiliates			3,785			1,789
	Accrued liabilities			53,794			52,938
	Income taxes payable			17,717			9,235
	Deferred revenue			33,341			22,786
		Total current liabilities		117,925			97,553
	Deferred tax liabilities			34,720			3,305
	Other liabilities			1,724			1,626
		Total Liabilities	$	154,369		$	102,484
Stockholders’ Equity:
Preferred stock				—			—
Common stock				942			937
Additional paid-in capital				790,810			786,470
Treasury stock, at cost				(26,980	)		(25,650	)
Accumulated deficit				(76,158	)		(94,398	)
Accumulated other comprehensive loss				(6,009	)		(4,616	)
		Total Stockholders’ Equity		682,605			662,743
		Total Liabilities and Stockholders’ Equity	$	836,974		$	765,227

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INTERACTIVE DATA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands)

			Three Months Ended
			March 31,
			(Unaudited)
			2003			2002
Cash flows provided by (used in) operating activities:
	Net income		$	18,240		$	13,372
	Adjustments to reconcile net income to net cash provided by operating activities:
		Depreciation and amortization		8,137			9,607
		Tax benefit from exercise of stock options		1,294			2,511
		Deferred income taxes		2			(3,051	)
		Other non-cash items, net		—			—
Changes in operating assets and liabilities, net				6,628			(8,658	)
NET CASH PROVIDED BY OPERATING ACTIVITIES				34,301			13,781
Cash flows provided by (used in) investing activities:
	Purchase of fixed assets			(1,775	)		(2,894	)
	Acquisition of business			(115,606	)		(48,000	)
	Other investing activities			170			170
NET CASH USED IN INVESTING ACTIVITIES				(117,211	)		(50,724	)
Cash flows provided by (used in) financing activities:
	Purchase of treasury stock			(1,330	)		—
	Proceeds from exercise of stock options and employee stock purchase plan			3,053			4,453
NET CASH PROVIDED BY FINANCING ACTIVITIES				1,723			4,453
Effect of exchange rate on cash				(704	)		(291	)
NET DECREASE IN CASH AND CASH EQUIVALENTS				(81,891	)		(32,781	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD				153,243			118,522
CASH AND CASH EQUIVALENTS AT END OF PERIOD			$	71,352		$	85,741

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