Exhibit 99.1
News Release
FIS Reports Fourth Quarter and Full Year 2013 Results
5% Revenue Growth to Record $6.1 Billion; 13% Adjusted EPS Growth for the Year
Full year 2013
•Revenue of $6.1 billion, up 5 percent on organic basis
•Adjusted EPS from continuing operations of $2.83, up 13 percent
•Free cash flow of $826 million
•$732 million in share repurchases and cash dividends returned to shareholders
Fourth quarter 2013
•Revenue of $1.6 billion; up 5 percent on organic basis
•International organic revenue growth accelerates to 13 percent
•Adjusted EPS from continuing operations of $0.76, up 12 percent
•Free cash flow of $334 million
JACKSONVILLE, Fla., February 4, 2014 - FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today reported a 2013 revenue increase of 5 percent on a reported basis to $6.1 billion from $5.8 billion a year earlier. GAAP net earnings from continuing operations attributable to common stockholders was $491.2 million, or $1.67 per diluted share, compared to $540.4 million, or $1.82 per diluted share in 2012. GAAP net earnings in 2013 includes previously announced charges for amended acquisition-related earn-out and incentive plan provisions of $0.48 per share attributable to Capco’s performance and growth expectations, and debt refinancing costs of $0.14 per share.
Full year 2013 revenue increased 5 percent on an organic basis from the prior year, which excludes the impact of acquisitions and changes in foreign currency. Adjusted EBITDA increased 5 percent to $1.84 billion and adjusted EBITDA margin increased 10 basis points to 30.2 percent. Adjusted net earnings from continuing operations attributable to common stockholders increased to $831.3 million from $743.6 million in 2012. Adjusted net earnings per diluted share increased 13 percent to $2.83 from $2.50 in 2012.
“FIS delivered another year of record adjusted earnings driven by successful execution of our global growth strategy. These results mark our third consecutive year of 5 percent organic revenue growth and our sixth consecutive year of double-digit adjusted EPS growth,” said Frank Martire, chairman and CEO of FIS. “Strong cash flow allowed FIS to return $732 million in share repurchases and dividends to our shareholders in 2013 while increasing investment for future growth. The significant increase in the new share repurchase authorization and dividend reflect our confidence in FIS’ long-term growth strategy and deep client relationships.”
FIS’ scale, solution breadth and financial industry expertise enable clients to succeed in this era of rapid financial services evolution.
“We enter 2014 focused on continuing to deliver significant value to our clients and shareholders,” continued Martire. “We expect 2014 revenue growth of 4.5 percent to 6.5 percent fueled by increased investment in global growth initiatives and adjusted earnings per share growth of 8 percent to 12 percent.”
Fourth Quarter 2013
Revenue increased to $1.6 billion from $1.5 billion in the fourth quarter 2012 or 5 percent on a reported and organic basis. GAAP net earnings from continuing operations attributable to common stockholders were $76.4 million, or $0.26 per diluted share, compared to $145.3 million, or $0.49 per diluted share in the prior year quarter. Fourth quarter 2013 GAAP net earnings include the previously announced charge for amended acquisition-related earn-out and incentive plan provisions related to Capco of $0.35 per share, acquisition-related purchase amortization of $0.13 per share and international restructuring charges of $0.02 per share.
The following information was filed by Fidelity National Information Services, Inc. (FIS) on Tuesday, February 4, 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.