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First Data Corp (FDC) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

First Data Corp

CIK: 883980 Ticker: FDC

Exhibit 99.1

 

 

First Data Reports Fourth Quarter 2013 Financial Results

 

·                  Fourth quarter consolidated revenue of $2.8 billion, up 1%; adjusted revenue of $1.8 billion, flat year-over-year

·                  Fourth quarter net loss attributable to First Data was $123 million; adjusted EBITDA of $669 million, up 2%

·                  Signed Brazilian merchant acquiring alliance agreement

·                  Launched Clover Station™; acquired Perka to add small business loyalty solution

·                  Completed extensions of all debt maturities that originated in September 2007

 

ATLANTA, Feb. 5, 2014 —

First Data Corporation today reported its financial results for the fourth quarter ended Dec. 31, 2013. Consolidated revenue for the fourth quarter was $2.8 billion, up $40 million, or 1%, compared to a year ago, primarily driven by a $47 million increase in reimbursable debit network fees, postage and other. Adjusted revenue, which excludes certain items including debit network fees, was flat, year-over-year at $1.8 billion.

 

For the fourth quarter, the net loss attributable to First Data was $123 million, compared to a loss of $179 million a year ago, driven by a $44 million favorable change in the provision for income taxes. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) was $669 million, up $13 million, or 2%, compared to $656 million in the fourth quarter of 2012, driven by a modest improvement in operating expenses.

 

Consolidated revenue for the full year 2013 was $10.8 billion, up 1%. Full-year adjusted revenue increased $14 million to $6.8 billion. The full-year net loss attributable to First Data was $869 million, $168 million higher than the loss reported a year ago.  Improved operating profit, other income and lower interest expense were offset by a $311 million change in the provision for income taxes. The change in income taxes is attributable to the establishment of valuation allowances against operating loss carry-forwards.  For 2013, adjusted EBITDA was $2.45 billion, up $14 million, or 1%, compared to $2.44 billion in 2012.

 

First Data generated $673 million in operating cash flow, after $1.8 billion in cash interest payments for the full year. For the quarter, First Data generated $341 million in operating cash flow, after $301 million in cash interest payments, and finished the quarter with $1.1 billion in unrestricted liquidity.

 

“During the fourth quarter, First Data launched Clover Station™, its next-generation point-of-sale business solution; acquired Perka, a customer loyalty application, both of which are aimed at small-to-midsized merchants; and established a preferred supplier relationship with Oberthur for EMV chip and PIN cards for the United States,” said First Data CEO Frank Bisignano. “In early January, we signed a merchant-alliance agreement in Brazil with Bancoob. These initiatives represent exciting future growth opportunities.”

 

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The following information was filed by First Data Corp (FDC) on Wednesday, February 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Borrowings
Borrowings (details 2)
Borrowings (details 3)
Borrowings (details 4)
Borrowings (details)
Borrowings (tables)
Business Combinations, Asset Acquisitions And Dispositions
Business Combinations, Asset Acquisitions And Dispositions (details 2)
Business Combinations, Asset Acquisitions And Dispositions (details)
Business Combinations, Asset Acquisitions And Dispositions (tables)
Commitments And Contingencies
Commitments And Contingencies (details 2)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Derivative Financial Instruments
Derivative Financial Instruments (details 2)
Derivative Financial Instruments (details 3)
Derivative Financial Instruments (details)
Derivative Financial Instruments (tables)
Employee Benefit Plans
Employee Benefit Plans (details 2)
Employee Benefit Plans (details 3)
Employee Benefit Plans (details 4)
Employee Benefit Plans (details)
Employee Benefit Plans (tables)
Fair Value Measurement
Fair Value Measurement (details 2)
Fair Value Measurement (details 3)
Fair Value Measurement (details 4)
Fair Value Measurement (details 5)
Fair Value Measurement (details 6)
Fair Value Measurement (details)
Fair Value Measurement (tables)
First Data Corporation Stockholder's Equity And Redeemable Noncontrolling Interest
First Data Corporation Stockholder's Equity And Redeemable Noncontrolling Interest (details)
First Data Corporation Stockholder's Equity And Redeemable Noncontrolling Interest (tables)
Income Taxes
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details 5)
Income Taxes (details 6)
Income Taxes (details)
Income Taxes (tables)
Investment In Affiliates
Investment In Affiliates (details)
Investment In Affiliates (tables)
Investment Securities
Investment Securities (details)
Investment Securities (tables)
Quarterly Financial Results (unaudited)
Quarterly Financial Results (unaudited) (details 2)
Quarterly Financial Results (unaudited) (details)
Quarterly Financial Results (unaudited) (tables)
Related Party Transactions
Related Party Transactions (details)
Restructuring
Restructuring (details 2)
Restructuring (details)
Restructuring (tables)
Schedule Ii-valuation And Qualifying Accounts
Schedule Ii-valuation And Qualifying Accounts (details)
Segment Information
Segment Information (details 2)
Segment Information (details 3)
Segment Information (details 4)
Segment Information (details 5)
Segment Information (details 6)
Segment Information (details)
Segment Information (tables)
Settlement Assets And Obligations
Settlement Assets And Obligations (details)
Settlement Assets And Obligations (tables)
Stock Compensation Plans
Stock Compensation Plans (details)
Stock Compensation Plans (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Supplemental Financial Information
Supplemental Financial Information (details 2)
Supplemental Financial Information (details)
Supplemental Financial Information (tables)
Supplemental Guarantor Condensed Consolidating Financial Statements
Supplemental Guarantor Condensed Consolidating Financial Statements (details 2)
Supplemental Guarantor Condensed Consolidating Financial Statements (details 3)
Supplemental Guarantor Condensed Consolidating Financial Statements (details 4)
Supplemental Guarantor Condensed Consolidating Financial Statements (details)
Supplemental Guarantor Condensed Consolidating Financial Statements (tables)
Ticker: FDC
CIK: 883980
Form Type: 10-K Annual Report
Accession Number: 0001104659-14-017714
Submitted to the SEC: Mon Mar 10 2014 10:09:27 AM EST
Accepted by the SEC: Mon Mar 10 2014
Period: Tuesday, December 31, 2013
Industry: Business Services

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