Adjusted EPS of $0.31, up 19.2% JACKSONVILLE, Fla., April 28
/PRNewswire-FirstCall/ -- Fidelity National Information Services,
Inc. (NYSE:FIS), a leading global provider of technology services
to financial institutions, today reported financial results for the
quarter ended March 31, 2009. Consolidated revenue of $797.8
million declined 3.9% in U.S. dollars and increased 0.3% in
constant currency compared to $830.3 million in the first quarter
of 2008. Non-GAAP adjusted net earnings increased 19.2% to $0.31
per share in U.S. dollars, compared to $0.26 in the prior year, and
increased 23.1% in constant currency. The increase is attributable
to improved operating performance, lower interest expense and a
lower share count, partially offset by a slightly higher tax rate.
GAAP net earnings from continuing operations attributable to common
stockholders totaled $34.3 million, or $0.18 per share compared to
$0.06 per share in the prior period. Free cash flow (cash from
operations less capital expenditures) was $119.2 million compared
with $4.9 million in the prior year quarter. "FIS's strong first
quarter performance in the midst of ongoing economic uncertainty
reflects the continued solid execution of our business plan and the
strength of our operating model," stated William P. Foley, II,
executive chairman of FIS. "We are very pleased with the strong
growth in earnings, profit margins and free cash flow," stated Lee
A. Kennedy, president and chief executive officer. "Despite very
difficult market conditions, our disciplined focus on improving
efficiency and managing costs drove a 100 basis point improvement
in our EBITDA margin, and contributed to the 19.2% increase in
earnings per share. Although we expect challenging market
conditions to persist throughout 2009, we remain confident in our
ability to achieve solid earnings growth and strong free cash
flow." Supplemental Information Consolidated revenue in the first
quarter of 2009 was $797.8 million, compared with $830.3 in the
prior year quarter, a decrease of 3.9% in U.S. dollars. Excluding a
$34.9 million unfavorable impact of foreign currency resulting from
a strengthening of the U.S. dollar, consolidated revenue increased
0.3% driven by strong growth in International. -- Financial
Solutions revenue declined 3.2% to $271.3 million compared to
$280.4 million in the prior period, as increased demand for risk
management and commercial outsourcing services was offset by lower
software license and professional services revenue; -- Payment
Solutions revenue declined 2.3% to $364.7 million compared to
$373.3 million in the 2008 quarter, due primarily to a $9.7 million
decline in the company's retail check guarantee business. Excluding
Check Services' revenue from both periods, Payment Solutions
revenue increased 0.4%; -- International revenue declined 8.3% to
$162.3 million in U.S. dollars, compared to $176.9 million in the
prior year quarter. International revenue increased 11.5% in
constant currency, driven by 16.3% growth in payments and 4.5%
growth in financial solutions. Adjusted EBITDA increased 0.7% to
$181.2 million in the first quarter of 2009 compared to $180.0
million in the 2008 quarter. The adjusted EBITDA margin improved
100 basis points to 22.7% compared to 21.7% in the prior-year
quarter, driven by increased operating leverage and ongoing expense
management. -- Financial Solutions EBITDA declined 2.9% to $102.0
million, due primarily to a decline in high margin software sales.
The 37.6% margin was comparable to the prior period; -- Payment
Solutions EBITDA increased 11.5% to $95.2 million, and the margin
increased 320 basis points to 26.1%. The improvement is
attributable to increased operating efficiency; -- International
EBITDA decreased 8.6% to $23.4 million due to a $5.2 million
unfavorable currency impact. The International margin of 14.4% was
comparable to prior year. The effective tax rate in the first
quarter of 2009 was 34.5% compared to 33.1% in the first quarter of
2008. Balance Sheet FIS had $272.0 million in cash and cash
equivalents at March 31, 2009. The company repaid $54.0 million of
debt during the first quarter, reducing total debt outstanding to
$2.46 billion, of which $2.1 billion has been swapped to fixed
interest rates. The effective interest rate was 5.2% as of March
31, 2009. Continuing an intensive focus on capital spending,
capital expenditures totaled $45.3 million in the quarter, which is
a 42% reduction from the $78.3 million spent in the prior year.
Acquisition Update On April 1, 2009, FIS announced plans to acquire
Metavante Technologies, Inc. (NYSE:MV). The transaction is subject
to approval by FIS and Metavante shareholders, receipt of
regulatory approvals and the satisfaction of customary closing
conditions. Subject to receiving the required approvals, FIS
expects to complete the transaction in the third quarter of 2009.
2009 Outlook FIS reaffirmed its full year outlook for adjusted net
earnings of $1.60 to $1.66 per share. This guidance does not
reflect the proposed acquisition of Metavante. FIS will update its
fiscal 2009 guidance to include Metavante's results following the
completion of the transaction. Use of Non-GAAP Financial
Information Generally Accepted Accounting Principles (GAAP) is the
term used to refer to the standard framework of guidelines for
financial accounting. GAAP includes the standards, conventions, and
rules accountants follow in recording and summarizing transactions,
and in the preparation of financial statements. In addition to
reporting financial results in accordance with GAAP, the company
has provided non-GAAP financial measures which it believes are
useful to help investors better understand its financial
performance, competitive position and prospects for the future.
These non-GAAP measures include earnings before interest, taxes and
amortization (EBITDA), adjusted net earnings, and free cash flow.
Adjusted EBITDA excludes the impact of merger and acquisition and
integration expenses, LPS spin-off related costs, certain stock
compensation charges and certain other costs. Adjusted net earnings
exclude the after-tax impact of merger and acquisition and
integration expenses, LPS spin-off related costs, certain stock
compensation charges, acquisition related amortization and certain
other costs. Any non-GAAP measures should be considered in context
with the GAAP financial presentation and should not be considered
in isolation or as a substitute for GAAP net earnings. Further,
FIS's non-GAAP measures may be calculated differently from
similarly-titled measures of other companies. A reconciliation of
these non-GAAP measures to related GAAP measures is included in the
press release attachments. Conference Call and Webcast FIS will
host a call with investors and analysts to discuss first quarter
2009 results on Wednesday, April 29, 2009, beginning at 8:30 a.m.
Eastern daylight time. To register for the live event and to access
a supplemental slide presentation, go to the Investor Relations
section at http://www.fidelityinfoservices.com/ and click on
"Events and Multimedia." A webcast replay will be available on FIS'
Investor Relations website, and a telephone replay will be
available through May 13, 2009, by dialing 800-475-6701 (USA) or
320-365-3844 (International). The access code will be 996633. To
access a PDF version of this release and accompanying financial
tables, go to http://www.investor.fidelityinfoservices.com/. About
Fidelity National Information Services, Inc. Fidelity National
Information Services, Inc. (NYSE:FIS), a member of the S&P 500
Index, is a leading provider of core processing for financial
institutions; card issuer and transaction processing services; and
outsourcing services to financial institutions and retailers. FIS
has processing and technology relationships with 40 of the top 50
global banks, including nine of the top 10 and was ranked the
number one banking technology provider in the world by American
Banker and the research firm Financial Insights in the 2008 FinTech
100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a
strong global presence, serving more than 14,000 financial
institutions in more than 90 countries worldwide. For more
information on Fidelity National Information Services, please visit
http://www.fidelityinfoservices.com/. Forward-Looking Statements
This press release contains forward-looking statements, including
certain plans, expectations, goals and projections, and statements
about FIS's acquisition of Metavante, which are subject to numerous
assumptions, risks and uncertainties. Statements that are not
historical facts, including statements about our beliefs and
expectations, are forward-looking statements. Forward-looking
statements are based on management's beliefs, as well as
assumptions made by, and information currently available to,
management. Because such statements are based on expectations as to
future economic performance and are not statements of fact, actual
results may differ materially from those projected. The risks and
uncertainties that forward-looking statements are subject to
include, without limitation: changes in general economic, business
and political conditions, including changes in the financial
markets; the effect of governmental regulations, including the
possibility that there are unexpected delays in obtaining
regulatory approvals; the failure to obtain required transaction
approvals from FIS's and Metavante's shareholders; the effects of
our substantial leverage which may limit the funds available to
make acquisitions and invest in our business; the risks of
reduction in revenue from the elimination of existing and potential
customers due to consolidation in the banking, retail and financial
services industries or due to financial failures suffered by firms
in those industries; actions that may be taken by the competitors,
customers and suppliers of FIS or Metavante that may cause the
transaction to be delayed or not completed; failures to adapt our
services to changes in technology or in the marketplace; our
potential inability to find suitable acquisition candidates or
difficulties in integrating acquisitions; competitive pressures on
product pricing and services; and other risks detailed in the
"Statement Regarding Forward-Looking Information," "Risk Factors"
and other sections of the Company's Form 10-K and other filings
with the Securities and Exchange Commission. All forward-looking
statements included in this document are based on information
available at the time of the document. FIS assumes any obligation
to update any forward-looking statement. FIS-e Fidelity National
Information Services, Inc. Earnings Release Supplemental Financial
Information April 28, 2009 (Unaudited) Exhibit A Consolidated
Statements of Earnings for the Three Months Ended March 31, 2009
and 2008 Exhibit B Consolidated Balance Sheets as of March 31, 2009
and December 31, 2008 Exhibit C Consolidated Statements of Cash
Flows for the Three Months Ended March 31, 2009 and 2008 Exhibit D
Supplemental Non-GAAP Financial Information for the Three Months
Ended March 31, 2009 and 2008 Exhibit E Supplemental GAAP to
Non-GAAP Reconciliation - Unaudited for the Three Months Ended
March 31, 2009 and 2008 Exhibit A FIDELITY NATIONAL INFORMATION
SERVICES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS
- UNAUDITED (In millions, except per share data) Three months ended
March 31, --------------------------- 2009 2008 ---- ----
Processing and services revenues $797.8 $830.3 Cost of revenues
594.3 648.7 Selling, general and administrative expenses 99.0 111.1
Research and development costs 22.6 19.3 ---- ---- Operating income
81.9 51.2 Other income (expense): Interest income 0.8 2.8 Interest
expense (32.0) (38.8) Other income (expense) 1.2 (1.2) ----- -----
Total other income (expense) (30.0) (37.2) ---- ---- Earnings from
continuing operations before income taxes 51.9 14.0 Provision for
income taxes 17.9 3.3 ---- ---- Net earnings from continuing
operations 34.0 10.7 (Loss) earnings from discontinued operations,
net of tax (1.3) 59.6 ---- ---- Net earnings 32.7 70.3 Net loss
attributable to noncontrolling interest 0.3 0.2 --- --- Net
earnings attributable to FIS $33.0 $70.5 ===== ===== Net earnings
per share-basic from continuing operations attributable to FIS
common stockholders * $0.18 $0.06 Net earnings per share-basic from
discontinued operations attributable to FIS common stockholders *
(0.01) 0.30 ----- ----- Net earnings per share-basic attributable
to FIS common stockholders * $0.17 $0.36 ===== ===== Weighted
average shares outstanding-basic 190.0 194.5 ===== ===== Net
earnings per share-diluted from continuing operations attributable
to FIS common stockholders * $0.18 $0.06 Net earnings per
share-diluted from discontinued operations attributable to FIS
common stockholders * (0.01) 0.30 ---- ---- Net earnings per
share-diluted attributable to FIS common stockholders * $0.17 $0.36
===== ===== Weighted average shares outstanding-diluted 191.6 196.5
===== ===== Amounts attributable to FIS common stockholders: Net
earnings from continuing operations, net of tax $34.3 $10.9 (Loss)
earnings from discontinued operations, net of tax (1.3) 59.6 ----
---- Net earnings $33.0 $70.5 ===== ===== * Amounts may not sum due
to rounding. Exhibit B FIDELITY NATIONAL INFORMATION SERVICES, INC.
AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) As of As
of March 31, December 31, 2009 2008 ---------- -----------
(Unaudited) Assets Current assets: Cash and cash equivalents $272.0
$220.9 Settlement deposits 39.2 31.4 Trade receivables, net 498.8
538.1 Settlement receivables 42.7 52.1 Other receivables 86.3 121.1
Receivable from FNF and LPS 11.2 10.1 Prepaid expenses and other
current assets 99.1 115.1 Deferred income taxes 62.3 91.0 ---- ----
Total current assets 1,111.6 1,179.8 ------- ------- Property and
equipment, net of accumulated depreciation and amortization 269.6
272.6 Goodwill 4,190.1 4,194.0 Other intangible assets, net of
accumulated amortization 893.1 924.3 Computer software, net of
accumulated amortization 613.0 617.0 Deferred contract costs 237.2
241.2 Long-term notes receivable from FNF 5.3 5.5 Other noncurrent
assets 72.1 79.6 ---- ---- Total assets $7,392.0 $7,514.0 ========
======== Liabilities and Stockholders' Equity Current liabilities:
Accounts payable and accrued liabilities $370.7 $480.5 Settlement
payables 82.4 83.3 Current portion of long-term debt 132.8 105.5
Deferred revenues 192.5 182.9 ----- ----- Total current liabilities
778.4 852.2 ----- ----- Deferred revenues 87.9 86.7 Deferred income
taxes 326.6 346.3 Long-term debt, excluding current portion 2,327.7
2,409.0 Other long-term liabilities 147.5 122.8 ----- ----- Total
liabilities 3,668.1 3,817.0 ------- ------- Stockholders' equity:
FIS stockholders' equity: Preferred stock $0.01 par value - -
Common stock $0.01 par value 2.0 2.0 Additional paid in capital
2,961.6 2,959.8 Retained earnings 1,099.6 1,076.1 Accumulated other
comprehensive (loss) earnings (111.3) (102.3) Treasury stock
(391.4) (402.8) ------ ------ Total FIS stockholders' equity
3,560.5 3,532.8 Noncontrolling interest 163.4 164.2 ----- -----
Total stockholders' equity 3,723.9 3,697.0 ------- ------- Total
liabilities and stockholders' equity $7,392.0 $7,514.0 ========
======== Exhibit C FIDELITY NATIONAL INFORMATION SERVICES, INC. AND
SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED (In
millions) Three months ended March 31, ---------------------------
2009 2008 ---- ---- Cash flows from operating activities: Net
earnings $33.0 $70.5 Adjustment to reconcile net earnings to net
cash provided by operating activities: Depreciation and
amortization 92.0 124.1 Amortization of debt issue costs 0.9 1.4
Net gain on sale of non-strategic businesses - (4.0) Stock-based
compensation cost 9.5 26.4 Deferred income taxes 1.3 6.8 Income tax
benefit from exercise of stock options (0.1) (0.4) Equity in loss
of unconsolidated entities - 2.0 Noncontrolling interest (0.3) 0.1
Changes in assets and liabilities, net of effects from
acquisitions: Net decrease (increase) in trade receivables 68.9
(8.1) Net decrease (increase) in prepaid expenses and other assets
19.1 (12.0) Additions to deferred contract costs (10.9) (22.0) Net
increase in deferred revenue 16.0 4.6 Net decrease in accounts
payable, accrued liabilities and other liabilities (66.5) (21.2)
----- ----- Net cash provided by operating activities 162.9 168.2
----- ----- Cash flows from investing activities: Additions to
property and equipment (15.0) (24.3) Additions to capitalized
software (30.3) (65.3) Net proceeds from sale of company assets -
6.0 Acquisitions, net of cash acquired (3.0) (1.9) ---- ---- Net
cash used in investing activities (48.3) (85.5) ----- ----- Cash
flows from financing activities: Borrowings 541.7 1,283.6 Debt
service payments (595.9) (1,381.4) Dividends paid (9.5) (9.7)
Income tax benefit from exercise of stock options 0.1 0.4 Stock
options exercised 3.7 6.0 Treasury stock purchases - (9.9) -----
----- Net cash used in financing activities (59.9) (111.0) -----
------ Effect of foreign currency exchange rates on cash (3.6) 1.0
Net increase (decrease) in cash and cash equivalents 51.1 (27.3)
Cash and cash equivalents, at beginning of period 220.9 355.3 -----
----- Cash and cash equivalents, at end of period $272.0 $328.0
====== ====== Exhibit D FIDELITY NATIONAL INFORMATION SERVICES,
INC. NON-GAAP FINANCIAL INFORMATION - UNAUDITED (In millions) 1.
Revenue, EBIT and EBITDA Three Months Ended March 31, 2009
--------------------------------- Financial Payment Inter-
Corporate Solutions Solutions national and Other Consolidated
--------- --------- -------- --------- ------------ Revenue from
Continuing Operations $271.3 $364.7 $162.3 $(0.5) $797.8 Operating
Income $73.6 $84.1 $10.2 $(86.0) $81.9 M&A, Restruct- uring and
Integration Costs - - - 7.3 7.3 ----- ----- ----- ----- ----- EBIT,
as adjusted $73.6 $84.1 $10.2 $(78.7) $89.2 ===== ===== =====
====== ===== Depreciation and Amortization from Continuing
Operations, as adjusted 28.4 11.1 13.2 39.3 92.0 ---- ---- ----
---- ---- EBITDA, as adjusted $102.0 $95.2 $23.4 $(39.4) $181.2
====== ===== ===== ====== ====== EBIT Margin, as adjusted 27.1%
23.1% 6.3% N/M% 11.2% ==== ==== === === ==== EBITDA Margin, as
adjusted 37.6% 26.1% 14.4% N/M% 22.7% ==== ==== ==== === ==== Three
Months Ended March 31, 2008 ---------------------------------
Financial Payment Inter- Corporate Solutions Solutions national and
Other Consolidated --------- --------- -------- ---------
------------ Revenue from Continuing Operations $280.4 $373.3
$176.9 $(0.3) $830.3 Operating Income $69.5 $70.9 $12.2 $(101.4)
$51.2 M&A, Restructuring and Integration Costs - - - 15.0 15.0
Corporate Costs Non-Disc. Ops - - - 9.0 9.0 LPS Spin-off Costs - -
- 2.9 2.9 ----- ----- ----- ----- ----- EBIT, as adjusted $69.5
$70.9 $12.2 $(74.5) $78.1 ===== ===== ===== ====== =====
Depreciation and Amortization from Continuing Operations, as
adjusted 35.6 14.5 13.4 38.4 101.9 ---- ---- ---- ---- -----
EBITDA, as adjusted $105.1 $85.4 $25.6 $(36.1) $180.0 ====== =====
===== ====== ====== EBIT Margin, as adjusted 24.8% 19.0% 6.9% N/M%
9.4% ==== ==== === === === EBITDA Margin, as adjusted 37.5% 22.9%
14.5% N/M% 21.7% ==== ==== ==== === ==== Total Revenue Growth from
Prior Year Period Three Months Ended March 31, 2009 -3.2% -2.3%
-8.3% N/M% -3.9% ==== ==== ==== === ==== Three Months Ended March
31, 2008 20.0% 27.0% 28.0% N/M% 24.9% ==== ==== ==== === ====
Exhibit D FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECONCILIATION OF PRO FORMA TO ADJUSTED PRO FORMA CASH FLOW
MEASURES - UNAUDITED (In millions) Quarter Ended March 31, 2009
---------------------------- GAAP Adj Adjusted ---- --- --------
Cash flows from operating activities: Net earnings (2) $33.0 $4.8
$37.8 Adjustments to reconcile net earnings to net cash provided by
operating activities: Non-cash adjustments 103.2 - 103.2 Working
capital adjustments (3) 26.7 (3.2) 23.5 ---- ---- ---- Net cash
provided by operating activities 162.9 1.6 164.5 Capital
expenditures (45.3) - (45.3) ----- ----- ----- Net free cash flow
$117.6 $1.6 $119.2 ====== ==== ====== Quarter Ended March 31, 2008
---------------------------- Pro forma (1) Adj Adj Pro forma
------------- --- ------------- Cash flows from operating
activities: Net earnings (4) $15.4 $8.3 $23.7 Adjustments to
reconcile net earnings to net cash provided by operating
activities: Non-cash adjustments 114.0 - 114.0 Working capital
adjustments (3) (100.8) 46.3 (54.5) ------ ---- ----- Net cash
provided by operating activities 28.6 54.6 83.2 Capital
expenditures (78.3) - (78.3) ----- ----- ----- Net free cash flow
$(49.7) $54.6 $4.9 ====== ===== ==== (1) Pro forma cash flows are
presented as if the LPS spin-off was completed on January 1, 2008
and represents FIS on a post-spin basis. (2) Adjustments to Net
Earnings reflect the elimination of the after-tax impact of
non-recurring M&A and related integration costs. (3)
Adjustments to working capital reflect elimination of settlement of
various acquisition related liabilities and for the 2009 period,
the elimination of current accruals related to the announced
acquisition of Metavante. (4) Adjustments to Net Earnings reflect
the elimination of the after-tax impact of non-recurring M&A
and related integration costs, costs associated with the LPS
spin-off, restructuring costs and the elimination of corporate
costs attributable to LPS. Exhibit E FIDELITY NATIONAL INFORMATION
SERVICES, INC. GAAP TO NON-GAAP RECONCILIATION - UNAUDITED (in
millions, except per share data) M&A Restruc- GAAP turing
Non-GAAP Three And Purchase Three Months Integra- Price Months
Ended tion Sub- Amorti- Ended March 31, Costs(1) total zation(4)
March 31, 2009 2009 (Unaudited) (Unaudited) --------- ------- -----
-------- --------- Processing and services revenue $797.8 $- $797.8
$- $797.8 Cost of revenues 594.3 - 594.3 (30.1) 564.2 ----- ----
----- ----- ----- Gross profit 203.5 - 203.5 30.1 233.6 ----- ----
----- ---- ----- Selling, general and administrative 99.0 (7.3)
91.7 - 91.7 Research and development costs 22.6 - 22.6 - 22.6 ----
---- ---- ---- ---- Operating income 81.9 7.3 89.2 30.1 119.3 ----
--- ---- ---- ----- Other income (expense): Interest income 0.8 -
0.8 - 0.8 Interest expense (32.0) - (32.0) - (32.0) Other income,
net 1.2 - 1.2 - 1.2 --- --- --- --- --- Total other income
(expense) (30.0) - (30.0) - (30.0) ----- ----- ----- ----- -----
Earnings from continuing operations before income taxes, 51.9 7.3
59.2 30.1 89.3 Provision (benefit) for income taxes 17.9 2.5 20.4
10.4 30.8 ---- ---- ---- ---- ---- Earnings from continuing
operations 34.0 4.8 38.8 19.7 58.5 Loss from discontinued
operations (1.3) - (1.3) - (1.3) ---- ---- ---- ---- ---- Net
earnings 32.7 4.8 37.5 19.7 57.2 Noncontrolling interest 0.3 - 0.3
- 0.3 --- --- --- --- --- Net earnings attributable to FIS $33.0
$4.8 $37.8 $19.7 $57.5 ===== ==== ===== ===== ===== Amounts
attributable to FIS common stockholders Net earnings from
continuing operations, net of tax $34.3 $4.8 $39.1 $19.7 $58.8
(Loss) earnings from discontinued operations, net of tax (1.3) -
(1.3) - (1.3) ---- ---- ---- ---- ---- Net earnings $33.0 $4.8
$37.8 $19.7 $57.5 ===== ==== ===== ===== ===== Net earnings per
share - diluted from continuing operations attributable to FIS
common stockholders* $0.18 $0.03 $0.20 $0.10 $0.31 ===== =====
===== ===== ===== Weighted average shares outstanding - diluted
191.6 191.6 191.6 191.6 191.6 ===== ===== ===== ===== =====
Supplemental Information: Depreciation and amortization from
continuing operations $92.0 $(30.1) $61.9 ===== ====== ===== Stock
compensation expense from continuing operations, excluding
acceleration charges $9.5 Stock acceleration charges - ---- Total
stock compensation expense from continuing operations $9.5 ==== *
Amounts may not sum due to rounding. See accompanying notes.
Exhibit E FIDELITY NATIONAL INFORMATION SERVICES, INC. GAAP TO
NON-GAAP RECONCILIATION - UNAUDITED (in millions, except per share
data) M&A Restruc- Corp- GAAP turing orate Non-GAAP Three And
Costs Purchase Three Months Integra- Non- LPS Price Months Ended
tion Disc Spin Sub- Amorti- Ended March 31, Costs(1) Ops(2)
Costs(3) total zation(4) March 31, 2008 2008 (Unaudited)
(Unaudited) --------- ------- ----- ------- ----- --------
--------- Processing and services revenue $830.3 $- $- $- $830.3 $-
$830.3 Cost of revenues 648.7 - - - 648.7 (36.5) 612.2 ----- ----
---- ---- ----- ----- ----- Gross profit 181.6 - - - 181.6 36.5
218.1 ----- ---- ---- ---- ----- ---- ----- Selling, general and
adminis- trative 111.1 (15.0) (9.0) (2.9) 84.2 - 84.2 Research and
development costs 19.3 - - - 19.3 - 19.3 ---- ---- ---- ---- ----
---- ---- Operating income 51.2 15.0 9.0 2.9 78.1 36.5 114.6 ----
---- --- --- ---- ---- ----- Other income (expense): Interest
income 2.8 - - - 2.8 - 2.8 Interest expense (38.8) - - - (38.8) -
(38.8) Other income, net (1.2) - - - (1.2) - (1.2) ---- ---- ----
---- ---- ---- ---- Total other income (expense)(37.2) - - - (37.2)
- (37.2) ----- ---- ---- ---- ----- ---- ----- Earnings before
income taxes 14.0 15.0 9.0 2.9 40.9 36.5 77.4 Provision (benefit)
for income taxes 3.3 5.5 2.8 1.1 12.7 12.9 25.6 --- --- --- ---
---- ---- ---- Earnings from continuing opera- tions 10.7 9.5 6.2
1.8 28.2 23.6 51.8 Earnings from discontinued opera- tions 59.6 - -
- 59.6 - 59.6 ---- ---- ---- ---- ---- ---- ---- Net earnings 70.3
9.5 6.2 1.8 87.8 23.6 111.4 Noncontrolling Interest 0.2 - - - 0.2 -
0.2 --- --- --- --- --- --- --- Net earnings Attributable to FIS
$70.5 $9.5 $6.2 $1.8 $88.0 $23.6 $111.6 ===== ==== ==== ==== =====
===== ====== Amounts attributable to FIS common stockholders Net
earnings from continuing operations, net of tax $10.9 $9.5 $6.2
$1.8 $28.4 $23.6 $52.0 (Loss) earnings from discontinued
operations, net of tax 59.6 - - - 59.6 - 59.6 ---- ---- ---- ----
---- ---- ---- Net earn- ings $70.5 $9.5 $6.2 $1.8 $88.0 $23.6
$111.6 ===== ==== ==== ==== ===== ===== ====== Net earnings per
share - diluted from continuing operations attributable to FIS
common stock- hold- ers* $0.06 $0.05 $0.03 $0.01 $0.14 $0.12 $0.26
===== ===== ===== ===== ===== ===== ===== Weighted average shares
outstanding - dilut- ed 196.5 196.5 196.5 196.5 196.5 196.5 196.5
===== ===== ===== ===== ===== ===== ===== Supplemental Information:
Depreciation and amortization from continuing operations $101.9
$(36.5) $65.4 ====== ====== ===== Stock compensation expense from
continuing operations, excluding acceleration charges $7.8 Stock
acceleration charges 14.2 ---- Total stock compensation expense
from continuing operations $22.0 ===== * Amounts may not sum due to
rounding. See accompanying notes. Notes to Unaudited - Supplemental
GAAP to Non-GAAP Reconciliation for the Three Month Periods ended
March 31, 2009 and 2008 The adjustments are as follows: (1) This
column represents charges for restructuring and integration costs
relating to merger and acquisition activities. For the period ended
March 31, 2009, the amounts represent incremental transaction costs
incurred by the Company related to the previously announced
acquisition of Metavante Technologies, Inc. (2) This column
represents corporate costs attributable to LPS as previously
reported in our investor package furnished on form 8-K on May 28,
2008. These amounts are not allocable to discontinued operations
under U.S. Generally Accepted Accounting Principles. (3) This
column represents incremental transaction costs incurred by the
Company directly related to the LPS spin-off. (4) This column
represents purchase price amortization expense on intangibles
assets acquired through various Company acquisitions. DATASOURCE:
Fidelity National Information Services, Inc. CONTACT: Mary
Waggoner, Senior Vice President, Investor Relations,
+1-904-854-3282, , or Marcia Danzeisen, Senior Vice President,
Market and Corporate Communications, +1-904-854-5083, both of
Fidelity National Information Services, Inc. Web Site:
http://www.fidelityinfoservices.com/
Copyright
Grafico Azioni Metavante Hlds (NYSE:MV)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Metavante Hlds (NYSE:MV)
Storico
Da Giu 2023 a Giu 2024