Check Services Drives CertegyHigher

Register now

ALPHARETTA, Ga. - (07/26/04) -- Certegy Inc. said net incomeadvanced 9% in its second quarter to $24.9 million, to 39 cents ashare, fueled by a 27% rise in revenues from its check servicesdivision. The company reported a 15% increase in revenues to $284million. Revenues from check service rose to $111 million, based onhigher retail sales, new customer signings, and the acquisition ofGame Financial Corp., which close din the first quarter. Revenuesfor the company's core card services increased 8% to $173 million.As a result, revenues for the first six months advanced 12% to $548million, and net income surged 30% to $45.6 million, or 71 cents ashare, compared to the first half last year.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER