Fidelity Nat'l Information 1Q Profit Drops 53 Pct

JACKSONVILLE, Fla. (AP) — Fidelity National Information Services Inc., which provides transaction processing, card issuer and outsourcing services for more than 14,000 financial institutions, said Tuesday its first-quarter profit tumbled 53 percent as revenue from its processing and services segment declined.

For the quarter ended March 31, net income declined to $33 million, or 17 cents per share, from $70.5 million, or 36 cents per share, in the year-ago period. But earnings from continuing operations tripled to 18 cents per share from 6 cents a year ago.

Adjusted earnings, which exclude one-time items, totaled 31 cents per share and matched average expectations of analysts polled by Thomson Reuters. ...