JACKSONVILLE, Fla. – Fidelity National Information Services, which provides back-office services to hundreds of credit unions, said yesterday its third quarter profits plummeted.
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Net income fell to $43.6 million, or 23 cents per share, from $245.3 million, or $1.25 per share, in the year-ago period.
Earnings from continuing operations slid to $45.6 million, or 24 cents per share, from $133.4 million, or 68 cents per share, a year-ago earlier. The 2007 quarter was boosted by a gain of 58 cents per share from the sale of stock in Covansys.
Revenue from continuing operations rose 25% to $893.8 million. Much of the gain came from the inclusion of eFunds, which Fidelity National bought in September 2007.
