Profits increased almost 41% for Metavante Technologies Inc. in the second quarter as revenue rose in both of its divisions and the company trimmed expenses by almost 3%.

The Brown Deer-based provider of technology for the financial services industry posted net income of $51.9 million, or 43 cents per share, compared with $36.9 million, or 31 cents, in the same period last year.

The company had revenue of $440.3 million, up from $424.8 million in last year's second quarter. The Metavante Financial Solutions Group, which sells automated recordkeeping and other back-office technology to banks, had an 8% increase in revenue. The Payment Solutions Group, which sells online bill payment and other services, had a 1% rise in revenue.

Expenses were pared to $331 million from $340.3 million in 2008's second quarter.

Frank R. Martire, chairman and chief executive, said the results "again demonstrated the strength of our business model and our ability to execute in what continues to be a very challenging environment for both us and our clients."

After the announcement Thursday, shares of Metavante closed up $1.26, or 4.7%, at $28.01.

Metavante announced in April that it would be acquired by Fidelity Information Services Inc., of Jacksonville, Fla. The deal is expected to close in the fourth quarter.

Metavante Technologies Inc.

2nd quarter %

6/30 2009 2008 change

Sales $440.3 $424.8 +3.6

Net income 51.9 36.9 +40.5

EPS (diluted) 0.43 0.31 +38.7

6 months

Sales $867.1 $849.4 +2.0

Net income 92.1 71.9 +28.2

EPS (diluted) 0.76 0.60 +26.7

Figures in millions except for earnings per share. Percentages are based on unrounded sales and income figures.

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