MILWAUKEE – Back officer service provider Metavante Technologies reported net income for its fourth quarter of $40.4 million, creating a fiscal year profit of $147.3 million for 2008, its first year as an independent company.
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The company, which was spun off in the beginning of last year by Marshall & Ilsley Bank, reported a fourth quarter loss of $92.8 million in 2007 in connection with charges related to the spin-off.
Revenues grew by 6% for the fourth quarter to $433.4 million, and by 7% for the full year to $1.7 billion.
Metavante is the parent of the NYCE electronic payment network and the Endpoint Exchange image and check-clearing network
