Previous Statements by FIS
» Fidelity National Information Services' CEO Discusses Q1 2012 Results - Earnings Call Transcript
» Fidelity National Information Services' CEO Discusses Q4 2011 Results - Earnings Call Transcript
» Fidelity National Information Services' CEO Discusses Q3 2011 Results - Earnings Call Transcript
Please refer to the Safe Harbor language on Slide 3 of the presentation. Today's discussion will contain forward-looking statements. These statements are subject to risks and uncertainties as described in the press release and other filings with the SEC. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.As a reminder, today's discussion will focus on results from continuing operations, reflecting the reclassification of our Healthcare business as a discontinued operation. Also included in discontinued operations are expenses related to our former BPO operation in Brazil. Today's remarks will also include references to non-GAAP financial measures in order to provide more meaningful comparisons between the periods presented, as outlined on Slide 4. Reconciliations between GAAP and non-GAAP results are provided in the attachment to the press release and the supplemental slide presentation. Now if you will turn your attention to Slide 6, I will turn the call over to Frank Martire. Frank? Frank R. Martire Thanks, Mary. Good afternoon, everyone, and thank you for joining us on today's call. I'll begin today's business review with a brief summary of our financial performance and business highlights for the second quarter. Gary will follow with the operations report, and Mike will provide additional insight into our financial results and our outlook for the remainder of the year. We are very pleased with our strong second quarter financial results. Organic revenue growth was 5.1%, driven by continued solid performance across all businesses. EBITDA increased 7.7%, and the EBITDA margin expanded 120 basis points to 30%. Earnings per share totaled $0.66, which represents a 22% increase compared to the second quarter of 2011. As you can see from the chart on the right, we have seen steady improvement in organic growth, driven by execution of our business plan and improved confidence within the banking industry compared to 2009.
I will now continue with Slide 7. In June, we announced a definitive agreement to divest our Healthcare business. The sale is consistent with our primary focus on serving financial institutions and operating in markets where we have meaningful scale. We expect to complete the sale by the end of the third quarter. We'll provide additional details regarding the transaction later on the call.We continue to maintain a strong focus on serving our clients and expanding relationships. I recently visited with several key clients and business leaders across the United States as well as Europe and Brazil. The feedback from these meetings provided me with even greater confidence that our time, efforts and resources are focused in the areas that are most important to our clients and that the overall business strategy is working. Finding new sources of growth, improving overall profitability and differentiating through institutions from the competition rank high on our clients' list of priorities, as do managing risk and regulatory compliance. Our proven ability to deliver industry-leading solutions and provide value to our clients through leverage and scale are among the many advantages that FIS brings to our clients. During the second quarter, I met with several clients to provide them with an update on our business and the improvements we are making in the area of information security and risk management. These conversations have been very productive. Gary will provide more detail later on the call. I am very pleased with our strong performance through the first half of 2012, and we are positioned to achieve our full-year objectives. As always, our management team and employees are focused on serving our clients, executing the strategy that we communicated at our Investor Day in February and driving value for our shareholders. Now I will turn it over to Gary for the business report. Gary?
Gary A. NorcrossThanks, Frank, and thanks to everyone for being with us today. My presentation begins on Slide 9. I'll cover some of the business highlights for the quarter and provide updates on information security and the status of the M&I migration plan. Read the rest of this transcript for free on seekingalpha.com