FIS sees revenue decrease
13 February 2019 Jacksonville
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Results from FIS’s full year report found that, on a generally accepted accounting principles (GAAP) basis, revenue decreased 2.8 percent to $8.4 billion from $8.6 billion in the prior year.
Operating income increased to $1.45 billion from $1.43 billion in the prior year, while operating income margin expanded 80 basis points to 17.3 percent, the results revealed.
FIS noted that net earnings attributable to common stockholders were $846 million for the year, or $2.55 per diluted share, compared to $3.75 per diluted share in the prior year, a decrease of 32.0 percent.
According to FIS, the prior period reflected a largely favourable adjustment due to tax reform.
For Q4 2018, On a GAAP basis, revenue was flat at $2,167 million from $2,166 million in the prior year quarter.
Operating income increased to $469 million from $431 million in the prior year quarter, while operating income margin expanded 180 basis points to 21.7 percent.
Meanwhile, net earnings attributable to common stockholders was $299 million for the quarter, or $0.91 per diluted share, compared to $2.77 per diluted share in the prior year quarter, a decrease of 67.1 percent.
The prior period reflected a largely favourable adjustment due to tax reform, FIS noted.
Of the results, Gary Norcross, FIS chairman, president and chief executive officer, said: “We are very pleased with delivering full-year 2018 results exceeding both profitability and earnings expectations and meeting full-year revenue expectations.”
“Our strong sales results in 2018 create positive momentum for 2019, and our ability to execute on our strategy is accelerating organic growth and creating sustainable value for our shareholders.”
Operating income increased to $1.45 billion from $1.43 billion in the prior year, while operating income margin expanded 80 basis points to 17.3 percent, the results revealed.
FIS noted that net earnings attributable to common stockholders were $846 million for the year, or $2.55 per diluted share, compared to $3.75 per diluted share in the prior year, a decrease of 32.0 percent.
According to FIS, the prior period reflected a largely favourable adjustment due to tax reform.
For Q4 2018, On a GAAP basis, revenue was flat at $2,167 million from $2,166 million in the prior year quarter.
Operating income increased to $469 million from $431 million in the prior year quarter, while operating income margin expanded 180 basis points to 21.7 percent.
Meanwhile, net earnings attributable to common stockholders was $299 million for the quarter, or $0.91 per diluted share, compared to $2.77 per diluted share in the prior year quarter, a decrease of 67.1 percent.
The prior period reflected a largely favourable adjustment due to tax reform, FIS noted.
Of the results, Gary Norcross, FIS chairman, president and chief executive officer, said: “We are very pleased with delivering full-year 2018 results exceeding both profitability and earnings expectations and meeting full-year revenue expectations.”
“Our strong sales results in 2018 create positive momentum for 2019, and our ability to execute on our strategy is accelerating organic growth and creating sustainable value for our shareholders.”
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