Fidelity National Information Services reported financial results for the quarter ended 30 June 2009.
Consolidated revenue of USD834.8 million declined 4.0% in U.S. dollars and 0.4% in constant currency compared to USD869.7 million in the second quarter of 2008. Non-GAAP adjusted net earnings increased 23.5% to USD0.42 per share in U.S. dollars, compared to USD0.34 in the prior year, and increased 26.5% in constant currency. The increase is due to improved operating performance across all major business lines and lower net interest expense. GAAP net earnings from continuing operations attributable to common stockholders totaled USD59.6 million, or USD0.31 per share, compared to USD0.07 per share in the prior period. Free cash flow (cash from operations less capital expenditures) was USD124.6 million compared with USD86.0 million in the prior year quarter.
“FIS reported another quarter of excellent growth in earnings, margin expansion and strong free cash flow. Our management team has done an excellent job navigating through the current difficult market conditions, and in further strengthening FIS’s position as a premier global organization,” says William P. Foley, II, executive chairman. “Importantly, despite the difficult market environment, we remain highly focused on expanding customer relationships, and we continue to pursue growth opportunities that leverage our existing operations and drive long-term value for our shareholders.”
“We are very pleased with our strong second quarter performance, which included a 250 basis point improvement in margin and once again, outstanding free cash flow. The strategic initiatives implemented over the last several quarters are producing tangible results, and we remain confident in our ability to continue to generate strong operating efficiencies and leverage,” says Lee A. Kennedy, president and chief executive officer. “Based on results to date and our outlook for the remainder of 2009, we are increasing our full year earnings outlook to USD1.71 to USD1.75 per share from our previous guidance of USD1.60 to USD1.66 per share.”
L.D.