fidelity national info serv (FIS) Key Developments
Fidelity National Information Services, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year 2015
Apr 30 15
Fidelity National Information Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue increased 2% on a reported basis to $1.6 billion from $1.5 billion a year earlier and 5% on a constant currency basis. GAAP net earnings from continuing operations attributable to common stockholders was $114 million, or $0.40 per diluted share, compared to $157 million, or $0.54 per diluted share in the prior year quarter. Non-GAAP adjusted net earnings from continuing operations attributable to common stockholders were $186 million or $0.65 per share compared to $199.2 million or $0.68 per diluted share a year ago. Operating income was $215.1 million against $286.1 million a year ago. Non-GAAP operating income was $322.2 million against $350.0 million a year ago. Adjusted EBITDA was $425.3 million against $447.7 million a year ago. Net cash provided by operations was $231 million and adjusted cash flow from operations was $315 million compared to net cash provided by operations was $222.6 million and adjusted cash flow from operations was $248.1 million a year ago. Capital expenditures totaled $101.2 million compared to $89.9 million a year ago. Net earnings attributable to FIS common stockholders were $110.9 million or $0.39 per diluted share against $154.5 million or $0.53 per diluted share a year ago. Earnings from continuing operations before income taxes were $176.3 million against $244.5 million a year ago. Results for the quarter reflect the negative impacts from lower termination fees; increased investment in European capabilities; and a scope modification delay in a significant project, which adversely impacted the quarter. In addition, the quarter was negatively impacted by changes in foreign currency exchange rates.
Based on the factors, the company is now expecting second quarter adjusted earnings per share to be in the range of $0.67 to $0.73 per diluted share. As discussed, the first half of the year is challenging. The second half of 2015 will drive more earnings per share as anniversary difficult comparisons and see the impacts of cost actions taken.
For the year 2015, the company expects to report revenue growth of 1 to 3%, adjusted EPS from continuing operations of $3.27 to $3.37, an increase of 6 to 9% compared to 2014 and free cash flow is expected to approximate adjusted net earnings. The company expects free cash flow to approximate adjusted net earnings.
FIS Announces Quarterly Dividend Payable on June 30, 2015
Apr 29 15
FIS announced a regular quarterly dividend of $0.26 per common share. The dividend is payable on June 30, 2015, to shareholders of record as of the close of business on June 16, 2015.
Alaska USA Streamlines Payment Capabilities with FIS
Apr 22 15
Alaska USA Federal Credit Union to select FIS, as its partner for several strategic payment initiatives, including EMV adoption and better leveraging customer data to increase the effectiveness of its customer touch points through analytic reporting. Alaska USA selected FIS for its leadership in EMV migration, particularly its proven ability to lead large-scale EMV conversions. The new deal includes EMV card personalization, debit card processing, ATM driving, fraud management services, and NYCE Network access; all while extending the bank’s existing credit card processing relationship provided by Card Services for Credit Unions (CSCU). Alaska USA also extended its relationship using FIS’ ScoreCard Rewards loyalty program, giving it the ability to drive card usage and improve member service by offering travel and merchandise rewards.
FIS Revises Earnings Guidance for First Quarter and Full Year 2015
Apr 10 15
FIS revised earnings guidance for first quarter and full year 2015. The company previously estimated adjusted earnings per share in the range of $0.67 – $0.72 per diluted share for the first quarter 2015. The company now anticipates its first quarter adjusted earnings per share to be in the range of $0.64 – $0.66 per diluted share.
The company previously estimated revenue growth of 5% – 7% for the full year. The company now expects reported revenue growth of 1% – 3%. Adjusted for currency, its revenue growth expectations remain unchanged at 5% – 7%. The company estimated adjusted earnings per share in the range of $3.37 – $3.49 per diluted share for the full year. The company now anticipates adjusted earnings of $3.27 – $3.37 per diluted share for the full year.
Evans Bank Selects FIS as its Core Banking Provider
Apr 7 15
Evans Bank has selected FIS as its core banking provider. Faced with their proprietary and functionally limited core banking solution, bank leaders wanted a new solution that was robust enough to support their current product set and flexible enough to grow with them, giving them the ability to further enhance their alternative banking services for customers, while also streamlining back office operations and improving regulatory compliance measures. Based on the breadth and quality of solutions, they were confident FIS possessed the whole arsenal.