JACKSONVILLE, Fla. – Fidelity National Information Services, fresh off its latest acquisition, said yesterday that lower interest on its debt countered lower revenues and helped fuel a 55% surge in third quarter net income, to $67.6 million.
The provider of back-office services for credit unions for banks and credit unions, reported a 4% decline in third quarter revenues, to $850.7 million, with declines through all major operations. But interest expense on the company’s debt declined to $33.2 million for the third quarter, from $47.7 million for the same period last year.
For the first three quarters of the year, FIS reported a 14% decline in net income to $159.8 million, and a 4% decline in revenues to $2.48 billion, from the first nine months last year.
FIS, which spun off its Loan Processing Services to a separately traded company earlier this year, recently completed the acquisition on Metavante Technologies.
