JACKSONVILLE, Fla. – Fidelity National Information Services reported a 51% plunge in second quarter earnings yesterday, to $71.9 million, or 37 cents a share, amid the company’s continuing restructuring.
Margins were negatively impacted by revenue mix, declines in certain mortgage origination services and higher corporate expense, the company said.
Consolidated revenue increased 19% to $1.3 billion, including approximately $137.2 million in revenue from eFunds, which FIS acquired in September 2007.
During the first half of 2008, Fidelity National completed the sale of two non-strategic businesses, FIS Credit Services and Certegy Gaming Services, and last month completed the spin off of Lender Processing Services, the largest mortgage servicer in the country.
For the first six months of the year, Fidelity National reported a 31% decline in net income, to $142.4 million, or 74 cents a share. Revenues for the first half rose 20% to $2.6 billion from the same period last year.
Fidelity National Information is a product of last year’s spin off from Fidelity National Title.
