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8-K - FORM 8-K - Fidelity National Information Services, Inc.g23985e8vk.htm
EX-99.1 - EX-99.1 - Fidelity National Information Services, Inc.g23985exv99w1.htm
EX-99.4 - EX-99.4 - Fidelity National Information Services, Inc.g23985exv99w4.htm
EX-99.3 - EX-99.3 - Fidelity National Information Services, Inc.g23985exv99w3.htm
Exhibit 99.2
(FIS LOGO)
News Release
FIS Reaffirms Second Quarter Outlook
JACKSONVILLE, Fla., July 6, 2010 — Fidelity National Information Services, Inc. (“FIS”) (NYSE: FIS), one of the world’s largest providers of banking and payments technology, today reaffirmed its outlook for the second quarter of 2010 for low single digit growth in adjusted revenues compared to $1.26 billion pro forma revenues in the second quarter of 2009, and adjusted EBITDA margin expansion of approximately 100 basis points compared to the pro forma EBITDA margin of 28.5% in the prior year period. In addition, the company announced that it expects to report second quarter adjusted earnings per share of $0.45 to $0.47.
FIS will announce second quarter financial results after the close of regular market trading on Tuesday, July 20, 2010. The company will also sponsor a live webcast of its quarterly earnings conference call with the investment community beginning at 5:00 p.m. EDT on the same day. To access the webcast, go to the Investor Relations section of FIS’ homepage, www.fisglobal.com. A replay will be available after the conclusion of the live webcast.
Use of Non-GAAP Financial Information
Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, the company has provided non-GAAP financial measures, which it believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. These non-GAAP measures include adjusted revenue, adjusted earnings before interest, taxes and depreciation and amortization (EBITDA), adjusted net earnings, and adjusted free cash flow. Adjusted revenue excludes the impact of deferred revenue purchase accounting. Adjusted EBITDA excludes the impact of merger and acquisition and integration expenses, accelerated stock compensation charges associated with merger and acquisition activity, costs associated with the proposed recapitalization plan, asset impairment charges and certain other costs. Adjusted net earnings exclude the after-tax impact of merger and acquisition and integration expenses, accelerated stock compensation charges associated with merger and acquisition activity, costs associated with the proposed recapitalization plan, acquisition related amortization and certain other costs. Adjusted free cash flow is GAAP operating cash flow less capital expenditures and acquisition related cash items. Non-GAAP adjustments are recorded in the Corporate and Other segment and do not impact operating segment results. Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. Further, FIS’ non-GAAP measures may be calculated differently from similarly titled measures of other companies. Reconciliations of these non-GAAP measures to related GAAP measures are provided in the attached schedules and in the Investor Relations section of the FIS Web site, www.fisglobal.com.

 


 

Forward-Looking Statements
This news release contains statements related to FIS’ future plans and expectations and, as such, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about 2010 adjusted earnings per share and margin expansion, as well as other statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. The risks and uncertainties that forward-looking statements are subject to, include, without limitation: changes in general economic, business and political conditions, including changes in the financial markets; the effect of governmental regulations; the effects of our substantial leverage, which may limit the funds available to make acquisitions and invest in our business; the risk of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries or due to financial failures suffered by firms in those industries; failures to adapt our services to changes in technology or in the marketplace; the failure to achieve some or all of the benefits that we expect from the acquisition of Metavante, including the possibility that our acquisition of Metavante may not be accretive to our earnings due to undisclosed liabilities, management or integration issues, loss of customers, the inability to achieve targeted cost savings, or other factors; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; competitive pressures on product pricing and services; and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission (“SEC”) that are available on the SEC’s Web site located at www.sec.gov. All forward-looking statements included in this document are based on information available at the time of the document. FIS 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.
About FIS
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10; as ranked by Bankersalmanac.com in November 2009. FIS is a member of Standard and Poor’s (S&P) 500® Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol.
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For More Information:
     
Marcia Danzeisen, 904-854-5083
  Mary Waggoner, 904-854-3282
Senior Vice President
  Senior Vice President
FIS Global Marketing and Communications
  FIS Investor Relations
marcia.danzeisen@fisglobal.com
  mary.waggoner@fisglobal.com