Certegy Reports Strong FirstQuarter
ST. PETERSBURG, Fla. - (04/22/05) -- Payments processor Certegy Inc. saidfirst quarter earnings surged 28% to $23.2 million, or 34 cents ashare, compared to last year's first quarter, based on new customersignings and advances in its card services operations. The companyreported a 10% rise in first quarter revenues to $262.5 million,including an 11% increase, to $154 million, for its card servicesunit. That included a 20% increase in international card servicesrevenue, due to new customers and favorable currency rates. Checkservices also grew its revenue for the quarter by 8% to $108.5million. Separately, Certegy said it is in discussions to sell itsmerchant acquiring business and expects to reach a definitiveagreement in the second quarter.