FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today announced first quarter GAAP revenue of $1.52 billion compared to $1.48 billion a year earlier. GAAP net earnings from continuing operations attributable to common stockholders increased to $155 million, or $0.53 per diluted share, compared to $148 million, or $0.50 per diluted share in the prior year quarter.
Non-GAAP adjusted net earnings from continuing operations attributable to common stockholders increased to $197 million from $182 million in the first quarter 2013 and adjusted net earnings per diluted share increased 10 percent to $0.68 from $0.62 in the first quarter 2013. First quarter 2014 non-GAAP adjusted net earnings from continuing operations excludes acquisition-related purchase amortization of $0.13 per share and includes $0.02 per share related to contract settlement revenue. Definitions of non-GAAP financial measures and reconciliations of non-GAAP measures to related GAAP measures are provided in subsequent sections of the press release narrative and supplemental schedules.
“We are pleased with our first quarter results and the execution of our growth strategy,” said Frank Martire, chairman and chief executive officer of FIS. “Our consistently strong performance reflects demand for FIS solutions which enable financial institutions to succeed while meeting increased efficiency, risk management and compliance requirements. We are confident in our 2014 outlook and long-term growth prospects.”
Segment InformationThe following is a discussion of first quarter results by segment:
- Financial Solutions:
- Payment Solutions:
- International Solutions:
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