Spin-Off Pays Off for Fidelity National

JACKSONVILLE, Fla. – Fidelity National Information Services, spun-ff last fall from Fidelity National Title, reported yesterday that net income surged 51% for its first quarter to $59.5 million, or 30 cents a share, on strong revenue growth. Revenues for the provider of data processing and other back-office services to credit unions, climbed by 13% to $1.124 billion, for the first quarter. The company was created a year ago with the merger of Fidelity National Information, a conglomeration of six back-office service providers, with Certegy Inc., then the spin-off.

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