FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today reported a 2013 revenue increase of 5 percent on a reported basis to $6.1 billion from $5.8 billion a year earlier. GAAP net earnings from continuing operations attributable to common stockholders was $491.2 million, or $1.67 per diluted share, compared to $540.4 million, or $1.82 per diluted share in 2012. GAAP net earnings in 2013 includes previously announced charges for amended acquisition-related earn-out and incentive plan provisions of $0.48 per share attributable to Capco’s performance and growth expectations, and debt refinancing costs of $0.14 per share.
Full year 2013 revenue increased 5 percent on an organic basis from the prior year, which excludes the impact of acquisitions and changes in foreign currency. Adjusted EBITDA increased 5 percent to $1.84 billion and adjusted EBITDA margin increased 10 basis points to 30.2 percent. Adjusted net earnings from continuing operations attributable to common stockholders increased to $831.3 million from $743.6 million in 2012. Adjusted net earnings per diluted share increased 13 percent to $2.83 from $2.50 in 2012.
“FIS delivered another year of record adjusted earnings driven by successful execution of our global growth strategy. These results mark our third consecutive year of 5 percent organic revenue growth and our sixth consecutive year of double-digit adjusted EPS growth,” said Frank Martire, chairman and CEO of FIS. “Strong cash flow allowed FIS to return $732 million in share repurchases and dividends to our shareholders in 2013 while increasing investment for future growth. The significant increase in the new share repurchase authorization and dividend reflect our confidence in FIS’ long-term growth strategy and deep client relationships.”
FIS’ scale, solution breadth and financial industry expertise enable clients to succeed in this era of rapid financial services evolution.“We enter 2014 focused on continuing to deliver significant value to our clients and shareholders,” continued Martire. “We expect 2014 revenue growth of 4.5 percent to 6.5 percent fueled by increased investment in global growth initiatives and adjusted earnings per share growth of 8 percent to 12 percent.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV