(Source: The Florida Times-Union)
By David Bauerlein, The Florida Times-Union, Jacksonville
Jul. 29--Fidelity National Information Services on Tuesday boosted its earnings outlook for 2009 as the Jacksonville-based company improved earnings for the second quarter.
The company posted net earnings of 42 cents per share, compared with 34 cents per share in the previous year.
For 2009, the company said it expects full-year earnings for 2009 will be $1.71 to $1.75 per share. Previously, the company's outlook was $1.60 to $1.66 per share.
The company, also known as FIS, provides technology services to 14,000 financial institutions in 90 countries.
"Our management team has done an excellent job navigating through the current difficult market conditions, and in further strengthening FIS's position as a premier global organization," said Executive Chairman Bill Foley. "Importantly, despite the difficult market environment, we remain highly focused on expanding customer relationships, and we continue to pursue growth opportunities that leverage our existing operations and drive long-term value for our shareholders."
The company said it expects to complete the acquisition of Metavante Technologies of Milwaukee in the fourth quarter, provided regulators and shareholders approve the deal.
For the second quarter ending June 30, FIS reported $834.8 million in revenue, a decline of 4 percent from the prior year. Excluding foreign exchange losses stemming from the stronger U.S. dollar, revenue dipped by 0.4 percent.
FIS stock began Tuesday at $21.51 per share and ended at $21.40.
david.bauerlein@jacksonville.com, (904) 359-4581
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