Fidelity National Information Services Reports Fourth Quarter Gains

JACKSONVILLE, Fla. – Fidelity National Information Services, the provider of back-office services to credit unions that has undergone numerous restructurings over the last few years reported yesterday that fourth quarter earnings rose 15% to $75.1 million, or 39 cents a share, compared to the same period last year. However, fourth quarter results include last February’s consolidation with transaction processor Certegy, and the recent decoupling of the company from Fidelity National Title, the nation’s largest title insurer. The combination with Certegy helped push fourth quarter revenues up 56% to $1.1 billion. For the full year, FIS reported a 50% rise in revenues to $4.1 billion, and a 32% surge in net income to $259.1 million, or $1.37 a share. Because of the dilution caused by the Certegy merger that’s down from the $1.54 a share earned for 2005. FIS is a conglomeration of seven credit union and bank outsourcers.