This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FIS Reports Strong Third Quarter Results; Reiterates Full-Year Outlook

FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today reported a 2.8% increase in revenue for the quarter ended September 30, 2012. GAAP net earnings from continuing operations attributable to common stockholders rose 3.1% and increased 6.4% per diluted share.

Third quarter revenue increased 5.0% on an organic basis, excluding the impact of acquisitions and foreign currency. FIS has posted organic growth approaching 5.0% or better in seven of the last eight quarters. On a non-GAAP basis, net earnings from continuing operations attributable to common stockholders increased 1.1% to $187.5 million, or $0.63 per diluted share in the third quarter of 2012, up 5.0% compared to the year-ago quarter.

“It was another very strong quarter for our company,” stated Frank Martire, chairman and chief executive officer of FIS. “We continue to execute our business strategy and are well positioned to deliver our full year financial targets.”

GAAP Results

Revenue increased 2.8% to $1.44 billion in the third quarter of 2012, compared to $1.40 billion in the third quarter of 2011. GAAP net earnings from continuing operations attributable to common stockholders totaled $147.8 million, or $0.50 per diluted share, in the third quarter of 2012, compared to $143.4 million, or $0.47 per diluted share, in the prior-year quarter.

For the nine months ended September 30, 2012, FIS reported revenue of $4.3 billion, a 3.4% increase compared to the year-ago period. GAAP net earnings from continuing operations attributable to common stockholders totaled $395.1 million, representing an 8.7% increase compared to the prior-year period, up 12.7% per diluted share.

Year to date, FIS has repurchased $251 million of common stock, including $100 million in the third quarter. “Our strong cash flow and disciplined capital management have enabled us to return $427 million to our shareholders through dividends and share repurchases through the first nine months of the year,” Martire noted.

1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs