Financial technology vendor Fidelity National Information Services Inc.'s sales rose 8.8% from a year earlier to $1.4 billion in the fourth quarter, the company said Tuesday.
FIS, which sells account management, payments processing and risk management software to banks, reported net income of $112.3 million for the quarter ending Dec. 31, compared with a net loss of $52.8 million.
Like its competitors Fiserv Inc. and Jack Henry & Associates Inc., FIS has made several acquisitions in recent years to increase its sales opportunities. On Monday, the company said it acquired Gifts Software Inc., a provider of cash management software, for an undisclosed amount.
"We continue to invest for growth and we are well positioned to participate in the ongoing market recovery," Frank Martire, the president and chief executive of FIS, said in a conference call Tuesday morning.
