Fiserv Reports StrongFinancials
BROOKFIELD, Wis. - (10/21/05) -- Credit union outsourcer Fiservreported Thursday that third quarter earnings rose 22% to $112.9million, or 58 cents a share. Third quarter revenues increased 8%to $1 billion, fueled by a 10% rise in the company's coreprocessing and services operations. For the first three quarters ofthe year Fiserv reported a 30% surge in earnings to $365.9 million,or $1.74, and a 66% rise in revenues to $2.4 billion, compared tothe first nine months last year. Third quarter highlights includednew contracts with Toyota Credit Canada, Putnam Investments, HSBCAustralia, and Arab National Bank of Riyadh, Saudi Arabia; and thecompleted acquisitions of insurance recovery management firm J.W.Hutton and insurance software provider VerticalPoint. In addition,Fiserv agreed in the third quarter to acquire bill payment serviceprovider BillMatrix. Also, Fiserv repurchased 4.4 million of itscommon shares in the third quarter.