Bank technology stocks ended the week mixed, despite a general market upturn propelled by news of a recovering dollar and rallying bond market.
While many systems companies that focus on banking fell last week, hardware companies and payment systems firms rose.
One of the biggest gainers was San Rafael, Calif.-based Fair Isaac & Co., a developer of credit scoring systems for banks and other consumer lenders.
Fair Isaac's stock closed Friday at $33.50 a share Friday, up a $4.50 for the week, after heavy trading in the firm's shares Thursday.
Fair Isaac officials were not available to comment on the their stock's rise at press time.
One firm in the payment systems category, National Data Corp., reported higher earnings for the fiscal year ended May 31, 1994. Profit for the year hit $11.16 million, up 31% from 1993, before an extraordinary charge of $1.5 million to settle a shareholder lawsuit.
Earnings per share, for common stock outstanding and dilutive stock options increased 26% to 86 cents before the extraordinary item, compared with 68 cents last year.
For the fourth quarter, National Data's net income totaled $3.83 milion. That was an increase of 20% over the year-earlier period.
Fiscal 1994 revenues remained flat at $204 million when compared to 1993, mainly due the National Data's discontinuation of its communications services business, company officials said.
They added that gross margins increased from 40% in 1993 to 43% this year. Cash flow from operations increased by 17% this year.
"These results reflect the talent of our people in transitioning to a new set of opportunities in the health care and integrated payment systems markets," said Robert A. Yellowlees, chairman and chief executive officer of National Data. "During this year, we saw continued solid growth in our health care and retail direct business, he pointed out.
"For example, in May we processed health care claims at an annualized rate approaching 500 million claims," Mr. Yellowlees noted. "Our government and corporate business is showing renewed growth, particularly with financial electronic data interchange," he added.
National Data's stock closed at $16 a share Friday, down 75 cents for the week.
Check printer and transaction processor Deluxe Corp. announced last week that it has completed its previously announced acquisition of The Software Partnership Ltd. of Runcorn, England.
The Software Partnership is a major developer of so-called "open systems" for large financial institutions, and Deluxe officials said 1994 revenues are expected to be approximately $12.6 million.
Deluxe's common stock closed at $26.25 a share Friday, up $0.125 for the week.
Bank Technology Stocks Last Week Change Last from 52 week week's prev. Hi Low PE close week
OUTSOURCERSAlltel(*) 29 1/2 24 17.74 25 1/4 1/4Bisys 21 1/8 17 25.0 21 1/8 3/8EDS(*)(*) 38 27 1/2 22.58 35 -First Data 48 40 5/8 26.54 42 3/4 -Fiserv 23 3/4 18 23.19 18 3/4 1Total System 28 1/4 19 1/8 31.44 21 1 3/8
SOFTWAREBroadway & Seymour 15 3/4 9 1/2 - 12 1/2 -Fair Isaac 33 1/2 21 26.45 33 1/2 4 1/2Hogan 10 7/8 5 7/8 17.15 6 5/8 1/8Jack Henry 11 3/4 6 1/2 18.14 9 5/8
HARDWAREBanctec 24 3/4 18 3/4 14.66 21 1/8 7/8Diebold 45 1/4 33 7/8 25.43 43 3/4 1/4Verifone 19 1/2 14 1/2 18.61 17 1/4 1 3/8 Change Last from 52 week week's prev. Hi Low PE close week
TRUST SYSTEMSNational Computer 13 1/2 10 1/4 - 11 1/4 1/4SEI Corp. 28 1/2 17 21.73 18 1/2
CHECK PRINTERSDeluxe Corp. 38 25 3/4 16.85 26 1/4 1/8John H. Harland 24 3/4 21 1/8 13.1 22 1/2 3/8
BRANCH AUTOMATIONCFI Proservices 15 1/2 9 7/8 23.21 15 -Interling 9 4 3/4 9.32 5 3/8 1/4
PAYMENT SYSTEMSComdata 8 1/2 6 1/2 - 7 1/2 3/8Equifax 30 3/8 21 7/8 30.72 28 3/4 3/4First Financial 60 1/8 51 1/8 24.72 54 3/4 1/2National Data 23 16 1/4 19.64 16 3/4SPS Transaction 64 3/4 48 23.91 57 1/4 1/4TRW 77 1/2 61 18.24 64 1/2 1/2
(*)Alltel unit Systematics Information Services, Inc. contributed 29% of 1993 operating revenues
(*)(*)EDS 1993 revenues from financial services firms was $1.2 billion, or 14% of total 1993 revenues
Source: Reuters
