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Fidelity National Information Services, Inc. (FIS) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Fidelity National Information Services,

CIK: 1136893 Ticker: FIS
fislogoq22018a19fa06.jpg    
Exhibit 99.1
News Release
FIS Reports First Quarter 2019 Results

GAAP revenue decreased 0.5 percent; organic revenue increased 5.1 percent
Diluted EPS of $0.45; Adjusted EPS increased 9.3 percent to $1.64
Company raises full-year organic revenue growth guidance

JACKSONVILLE Fla., April 30, 2019 -
FIS™ (NYSE:FIS), a global leader in financial services technology, today reported first quarter 2019 results. The comparability of the Company’s first quarter results is impacted by the dissolution of the Brazilian JV and divestitures in 2018.

On a GAAP basis, revenue decreased 0.5 percent to $2,057 million from $2,066 million in the prior year quarter. Operating income increased to $315 million from $294 million in the prior year quarter, while operating income margin expanded 110 basis points to 15.3 percent. Net earnings attributable to common stockholders was $148 million for the quarter, or $0.45 per diluted share, compared to $0.54 per diluted share in the prior year quarter, a decrease of 16.7 percent.

On an adjusted basis, organic revenue increased 5.1 percent. Adjusted EBITDA increased to $729 million from $705 million in the prior year quarter, while adjusted EBITDA margin expanded 130 basis points to 35.4 percent. Adjusted net earnings attributable to common stockholders was $535 million, or $1.64 per diluted share, compared to $1.50 per diluted share in the prior year quarter, an increase of 9.3 percent.

“We are pleased to announce a very strong start to the year driven by robust, ongoing demand for our solutions,” said Gary Norcross, FIS chairman, president and chief executive officer. “Our top-line growth is continuing to accelerate as we deliver long-term value to our clients and shareholders. We are very excited about the pending combination with Worldpay and are focused on closing the transaction in the third quarter of 2019.”

Segment Information

Integrated Financial Solutions (IFS):

On a GAAP basis, revenue increased 6.4 percent to $1,129 million from $1,061 million in the prior year quarter. Organic revenue increased 7.3 percent. Adjusted EBITDA increased to $499 million from $451 million in the prior year quarter, and adjusted EBITDA margin was 44.1 percent, representing expansion of 160 basis points.


Global Financial Solutions (GFS):

On a GAAP basis, revenue decreased 6.9 percent to $863 million from $927 million in the prior year quarter. Organic revenue increased 2.4 percent. Adjusted EBITDA increased to $309 million from $305 million in the prior year quarter, and adjusted EBITDA margin was 35.8 percent, representing expansion of 290 basis points.

Corporate / Other:

On a GAAP basis, revenue decreased 17.3 percent to $65 million compared to $78 million in the prior year quarter. Organic revenue increased 4.1 percent. Adjusted EBITDA loss was $79 million and is inclusive of $92 million of corporate expenses.

Balance Sheet and Cash Flows

As of March 31, 2019, cash and cash equivalents totaled $576 million and debt outstanding totaled $9,215 million with an effective weighted average interest rate of 3.3 percent. Net cash provided by operating activities was $294 million and free cash flow was $249 million for the quarter.


The following information was filed by Fidelity National Information Services, Inc. (FIS) on Tuesday, April 30, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Fidelity National Information Services, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Equity
Condensed Consolidated Statement Of Equity (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings
Condensed Consolidated Statements Of Earnings
Basis Of Presentation
Basis Of Presentation - (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies - (Narrative) (Details)
Condensed Consolidated Financial Statement Details
Condensed Consolidated Financial Statement Details (Tables)
Condensed Consolidated Financial Statement Details - (Goodwill) (Details)
Condensed Consolidated Financial Statement Details - (Narrative) (Details)
Condensed Consolidated Financial Statement Details - (Summary Of Net Assets) (Details)
Debt
Debt (Tables)
Debt - (Narrative) (Details)
Debt - (Principal Maturities Of Long-Term Debt) (Details)
Debt - (Schedule Of Long-Term Debt) (Details)
Deferred Contract Costs
Deferred Contract Costs (Details)
Deferred Contract Costs (Tables)
Deferred Contract Costs - (Narratives) (Details)
Financial Instruments
Financial Instruments - (Narratives) (Details)
Net Earnings Per Share
Net Earnings Per Share (Tables)
Net Earnings Per Share - (Narrative) (Details)
Net Earnings Per Share - (Summary Of Earnings Per Share) (Details)
Operating Leases
Operating Leases (Tables)
Operating Leases - (Balance Sheet Classification) (Details)
Operating Leases - (Maturities Of Operating Leases) (Details)
Operating Leases - (Narratives) (Details)
Operating Leases - (Operating Lease Minimum Future Lease Payments) (Details)
Pending Acquisition Of Worldpay
Pending Acquisition Of Worldpay - (Narrative) (Details)
Related Party Transactions
Related Party Transactions - (Narrative) (Details)
Revenue
Revenue (Tables)
Revenue - (Narrative) (Details)
Revenue - Disaggregate Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - (Narrative) (Details)
Segment Information - (Summarized Financial Information And Narrative) (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Fidelity National Information Services, Inc. provided additional information to their SEC Filing as exhibits

Ticker: FIS
CIK: 1136893
Form Type: 10-Q Quarterly Report
Accession Number: 0001136893-19-000024
Submitted to the SEC: Tue Apr 30 2019 12:16:53 PM EST
Accepted by the SEC: Tue Apr 30 2019
Period: Sunday, March 31, 2019
Industry: Business Services

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