FIS Reports Full Year And Fourth Quarter 2012 Results
FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today reported a 3.2% increase in GAAP revenue for the year ended December 31, 2012. GAAP net earnings from continuing operations attributable to common stockholders rose 11.9% to $540.4 million and increased 15.9% to $1.82 per diluted share in 2012.
Full year 2012 revenue increased 4.6% on an organic basis, excluding the impact of foreign currency and acquisitions. On a non-GAAP basis, adjusted net earnings from continuing operations attributable to common stockholders increased 9.1% to $743.6 million for the year, resulting in $2.50 per diluted share, up 12.6% compared to $2.22 per diluted share in 2011. Average diluted shares outstanding declined approximately 3% to 298 million in 2012 compared to average diluted shares of 307 million in 2011. Free cash flow increased approximately 9% to $872.8 million for the year, compared to $799.3 million in 2011.
“Our strong performance in 2012 reflects the strength of our operating model and success in executing our business strategy,” said Frank Martire, chairman and chief executive officer of FIS. “Consistent with our focus on value creation and disciplined capital allocation, we returned $686 million to shareholders through dividends and share repurchases.”
Looking ahead, Martire said, “FIS anticipates continued strong performance in 2013, with 4% to 6% revenue growth (3% to 5% organic) and an expected 11% to 15% increase in adjusted earnings per share.”
Fourth Quarter 2012 GAAP revenue from continuing operations increased 2.7% to $1.5 billion in the fourth quarter of 2012, and increased 3.1% on an organic basis compared to the fourth quarter of 2011. GAAP net earnings from continuing operations attributable to common stockholders grew 21.5% to $145.3 million and rose 22.5% to $0.49 per diluted share, compared to $119.6 million, or $0.40 per diluted share, respectively, in the prior year quarter.Select the service that is right for you!
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