Fiserv Reports Slight Rise InEarnings
BROOKFIELD, Wis. - (07/26/06) -- Fiserv Inc. reported Tuesday thatsecond quarter earnings rose 3% to $117.7 million, or 66 cents ashare. The nation's largest outsourcer of credit union servicesreported that revenues rose 10% to $1.1 billion in the three-monthperiod, fueled by the addition of 111 new clients to the company'selectronic funds transfer network and the addition of several majorclients to its BillMatrix group. The second quarter also includedthe completion of one acquisition, of Insurance Wholesalers, and anagreement to acquire The Jerome Group, a full-service directmarketing firm and digital printer provider. For the first sixmonths of the year, Fiserv reported an 11% increase in revenues to$2.2 billion, but an 8% decline in net income to $233.9 million, or$1.30 a share, due to an 8% decline in first quarterearnings.